Federated Hermes Inc. Sells 49,703 Shares of Trane Technologies plc (NYSE:TT)

Federated Hermes Inc. lowered its stake in shares of Trane Technologies plc (NYSE:TT) by 5.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 809,935 shares of the company’s stock after selling 49,703 shares during the period. Trane Technologies accounts for about 0.7% of Federated Hermes Inc.’s investment portfolio, making the stock its 26th largest position. Federated Hermes Inc. owned about 0.36% of Trane Technologies worth $299,155,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Global Wealth Strategies & Associates bought a new stake in Trane Technologies in the 4th quarter valued at $26,000. Sound Income Strategies LLC grew its position in shares of Trane Technologies by 1,314.3% during the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after purchasing an additional 92 shares in the last quarter. Flagship Wealth Advisors LLC bought a new stake in shares of Trane Technologies in the fourth quarter worth about $37,000. Golden State Wealth Management LLC purchased a new stake in shares of Trane Technologies in the fourth quarter worth about $39,000. Finally, Legacy Investment Solutions LLC bought a new position in Trane Technologies during the third quarter valued at approximately $44,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Christopher J. Kuehn sold 770 shares of Trane Technologies stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $358.39, for a total value of $275,960.30. Following the completion of the sale, the chief financial officer now directly owns 62,221 shares in the company, valued at $22,299,384.19. The trade was a 1.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO David S. Regnery sold 2,754 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total transaction of $984,114.36. Following the transaction, the chief executive officer now owns 132,969 shares in the company, valued at approximately $47,515,142.46. The trade was a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,234 shares of company stock worth $2,588,102 in the last three months. Corporate insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

TT has been the topic of a number of research reports. Melius downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective on the stock. in a research note on Tuesday, January 28th. UBS Group reduced their price target on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Melius Research reaffirmed a “hold” rating and set a $398.00 price target on shares of Trane Technologies in a research note on Tuesday, January 28th. JPMorgan Chase & Co. lifted their price objective on shares of Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Finally, Citigroup decreased their target price on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Trane Technologies presently has a consensus rating of “Hold” and an average target price of $413.69.

Trane Technologies Trading Down 3.9 %

Shares of NYSE TT opened at $318.18 on Friday. Trane Technologies plc has a fifty-two week low of $286.32 and a fifty-two week high of $422.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. The company has a market cap of $71.36 billion, a price-to-earnings ratio of 28.28, a PEG ratio of 2.50 and a beta of 1.08. The business’s 50 day moving average price is $351.63 and its 200-day moving average price is $378.95.

Trane Technologies (NYSE:TT) last released its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, topping analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. On average, sell-side analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be given a $0.94 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.76 annualized dividend and a yield of 1.18%. Trane Technologies’s dividend payout ratio (DPR) is 33.42%.

About Trane Technologies

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.