Great Lakes Advisors LLC Has $4.26 Million Stock Position in Trane Technologies plc (NYSE:TT)

Great Lakes Advisors LLC cut its position in Trane Technologies plc (NYSE:TT) by 12.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,523 shares of the company’s stock after selling 1,604 shares during the quarter. Great Lakes Advisors LLC’s holdings in Trane Technologies were worth $4,256,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Hopwood Financial Services Inc. acquired a new stake in Trane Technologies in the fourth quarter worth $76,000. Knuff & Co LLC purchased a new stake in shares of Trane Technologies in the fourth quarter worth approximately $62,000. EverSource Wealth Advisors LLC increased its position in shares of Trane Technologies by 39.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,619 shares of the company’s stock valued at $598,000 after acquiring an additional 459 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in shares of Trane Technologies by 9.0% during the fourth quarter. Sequoia Financial Advisors LLC now owns 5,477 shares of the company’s stock valued at $2,023,000 after acquiring an additional 454 shares during the last quarter. Finally, Natural Investments LLC purchased a new stake in shares of Trane Technologies during the fourth quarter valued at approximately $1,169,000. 82.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on TT. Royal Bank of Canada raised their price target on Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a report on Friday, January 3rd. Wells Fargo & Company lowered their price target on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a research report on Friday, January 31st. Melius Research reiterated a “hold” rating and issued a $398.00 price objective on shares of Trane Technologies in a report on Tuesday, January 28th. Barclays decreased their price objective on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. Finally, Northcoast Research assumed coverage on Trane Technologies in a research note on Friday, November 22nd. They issued a “buy” rating and a $500.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $413.69.

Trane Technologies Price Performance

Shares of TT opened at $348.48 on Friday. The company has a market cap of $78.16 billion, a price-to-earnings ratio of 30.98, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a twelve month low of $286.32 and a twelve month high of $422.00. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The company has a 50 day moving average of $364.65 and a two-hundred day moving average of $379.80.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Thursday, January 30th. The company reported $2.61 EPS for the quarter, topping the consensus estimate of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. As a group, analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s dividend payout ratio (DPR) is 33.42%.

Insider Buying and Selling

In other Trane Technologies news, CFO Christopher J. Kuehn sold 876 shares of Trane Technologies stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.42, for a total value of $313,099.92. Following the completion of the transaction, the chief financial officer now owns 63,841 shares of the company’s stock, valued at approximately $22,818,050.22. The trade was a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David S. Regnery sold 2,754 shares of the business’s 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 sale, the chief executive officer now directly owns 132,969 shares of the company’s stock, valued at $47,515,142.46. This represents a 2.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,234 shares of company stock valued at $2,588,102 over the last 90 days. Insiders own 0.38% of the company’s stock.

Trane Technologies Company Profile

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.