Carnegie Capital Asset Management LLC Has $1.25 Million Position in Trane Technologies plc (NYSE:TT)

Carnegie Capital Asset Management LLC lessened its stake in shares of Trane Technologies plc (NYSE:TT) by 3.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,110 shares of the company’s stock after selling 184 shares during the period. Carnegie Capital Asset Management LLC’s holdings in Trane Technologies were worth $1,246,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TT. Acadian Asset Management LLC acquired a new position in Trane Technologies during the first quarter valued at approximately $178,000. Blair William & Co. IL boosted its position in shares of Trane Technologies by 3.0% in the first quarter. Blair William & Co. IL now owns 16,727 shares of the company’s stock valued at $2,554,000 after acquiring an additional 495 shares during the period. Sequoia Financial Advisors LLC bought a new stake in shares of Trane Technologies in the first quarter valued at approximately $219,000. Vanguard Group Inc. boosted its position in shares of Trane Technologies by 0.4% in the first quarter. Vanguard Group Inc. now owns 18,133,851 shares of the company’s stock valued at $2,769,040,000 after acquiring an additional 77,924 shares during the period. Finally, Mackenzie Financial Corp boosted its position in shares of Trane Technologies by 3.8% in the first quarter. Mackenzie Financial Corp now owns 956,177 shares of the company’s stock valued at $146,008,000 after acquiring an additional 34,591 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insiders Place Their Bets

In other Trane Technologies news, SVP Keith A. Sultana sold 1,637 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $267.74, for a total value of $438,290.38. Following the completion of the transaction, the senior vice president now owns 42,374 shares of the company’s stock, valued at approximately $11,345,214.76. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, SVP Keith A. Sultana sold 1,637 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $267.74, for a total value of $438,290.38. Following the completion of the sale, the senior vice president now owns 42,374 shares of the company’s stock, valued at $11,345,214.76. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Christopher J. Kuehn sold 3,762 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $286.48, for a total value of $1,077,737.76. Following the transaction, the chief financial officer now owns 61,691 shares of the company’s stock, valued at $17,673,237.68. The disclosure for this sale can be found here. Insiders sold a total of 29,874 shares of company stock valued at $8,462,825 in the last 90 days. Corporate insiders own 0.39% of the company’s stock.

Trane Technologies Stock Down 1.0 %

NYSE:TT opened at $293.88 on Tuesday. The company has a quick ratio of 0.78, a current ratio of 1.13 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $66.73 billion, a price-to-earnings ratio of 33.43, a price-to-earnings-growth ratio of 2.51 and a beta of 1.05. Trane Technologies plc has a twelve month low of $162.04 and a twelve month high of $306.98. The stock’s 50 day moving average price is $288.12 and its two-hundred day moving average price is $249.06.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Thursday, February 1st. The company reported $2.17 EPS for the quarter, beating analysts’ consensus estimates of $2.13 by $0.04. The firm had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.43 billion. Trane Technologies had a return on equity of 32.01% and a net margin of 11.45%. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.82 EPS. Equities research analysts expect that Trane Technologies plc will post 10.2 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a $0.84 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $3.36 dividend on an annualized basis and a yield of 1.14%. Trane Technologies’s payout ratio is presently 38.23%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada increased their price objective on Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a research report on Friday, February 2nd. Citigroup raised their target price on Trane Technologies from $309.00 to $355.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Wells Fargo & Company raised their target price on Trane Technologies from $200.00 to $246.00 and gave the stock an “underweight” rating in a research report on Tuesday, December 19th. The Goldman Sachs Group raised their target price on Trane Technologies from $253.00 to $287.00 and gave the stock a “neutral” rating in a research report on Monday, February 5th. Finally, Stephens raised their target price on Trane Technologies from $235.00 to $280.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $251.83.

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.