Trane Technologies plc (NYSE:TT) Shares Sold by Spinnaker Trust

Spinnaker Trust lessened its holdings in shares of Trane Technologies plc (NYSE:TT) by 1.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,361 shares of the company’s stock after selling 39 shares during the period. Spinnaker Trust’s holdings in Trane Technologies were worth $872,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TT. Global Wealth Strategies & Associates acquired a new position in Trane Technologies during the fourth quarter worth $26,000. MidAtlantic Capital Management Inc. acquired a new stake in Trane Technologies in the third quarter valued at $27,000. DT Investment Partners LLC acquired a new stake in Trane Technologies in the third quarter valued at $36,000. Sound Income Strategies LLC grew its holdings in Trane Technologies by 1,314.3% in 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 during the last quarter. Finally, Pittenger & Anderson Inc. acquired a new stake in Trane Technologies in the third quarter valued at $39,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity

In other news, SVP Evan M. Turtz sold 318 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $358.12, for a total value of $113,882.16. Following the completion of the sale, the senior vice president now owns 20,513 shares in the company, valued at approximately $7,346,115.56. This trade represents a 1.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Mairead Magner sold 198 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total value of $70,806.78. Following the completion of the sale, the senior vice president now owns 13,401 shares of the company’s stock, valued at approximately $4,792,331.61. This trade represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,563 shares of company stock worth $4,388,966. 0.38% of the stock is currently owned by corporate insiders.

Trane Technologies Stock Performance

Trane Technologies stock opened at $363.58 on Friday. The stock’s 50-day moving average is $379.41 and its 200-day moving average is $377.91. The company has a market cap of $81.81 billion, a price-to-earnings ratio of 32.32, a price-to-earnings-growth ratio of 2.44 and a beta of 1.05. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. Trane Technologies plc has a 12 month low of $270.50 and a 12 month high of $422.00.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Thursday, January 30th. The company reported $2.61 EPS 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%. Equities analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.03%. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date is Friday, March 7th. Trane Technologies’s dividend payout ratio (DPR) is 29.87%.

Analysts Set New Price Targets

Several analysts have weighed in on TT shares. Wells Fargo & Company lowered their target price on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. Citigroup reduced their price objective on Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Royal Bank of Canada upped their price objective on Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. upped their price objective on Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Finally, UBS Group reduced their price objective on Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. One research 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. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $415.25.

Trane Technologies 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.