Trane Technologies plc (NYSE:TT) Stock Holdings Reduced by Weatherly Asset Management L. P.

Weatherly Asset Management L. P. lowered its position in Trane Technologies plc (NYSE:TT) by 3.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,749 shares of the company’s stock after selling 473 shares during the quarter. Weatherly Asset Management L. P.’s holdings in Trane Technologies were worth $3,110,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its position in shares of Trane Technologies by 5.4% in the third quarter. JPMorgan Chase & Co. now owns 17,085,662 shares of the company’s stock worth $3,466,852,000 after buying an additional 880,583 shares during the last quarter. FMR LLC lifted its position in shares of Trane Technologies by 12.4% in the third quarter. FMR LLC now owns 5,743,154 shares of the company’s stock worth $1,165,343,000 after buying an additional 632,598 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Trane Technologies by 2.6% in the third quarter. Ameriprise Financial Inc. now owns 4,050,779 shares of the company’s stock worth $821,952,000 after buying an additional 103,823 shares during the last quarter. Morgan Stanley lifted its position in shares of Trane Technologies by 0.6% during the 3rd quarter. Morgan Stanley now owns 2,797,382 shares of the company’s stock worth $567,617,000 after purchasing an additional 17,758 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of Trane Technologies by 4.3% during the 3rd quarter. Northern Trust Corp now owns 2,522,449 shares of the company’s stock worth $511,830,000 after purchasing an additional 104,653 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity

In related news, CEO David S. Regnery sold 6,990 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $286.19, for a total transaction of $2,000,468.10. Following the sale, the chief executive officer now directly owns 113,874 shares in the company, valued at approximately $32,589,600.06. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Paul A. Camuti sold 508 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $273.34, for a total transaction of $138,856.72. Following the sale, the executive vice president now directly owns 89,447 shares in the company, valued at approximately $24,449,442.98. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO David S. Regnery sold 6,990 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $286.19, for a total value of $2,000,468.10. Following the sale, the chief executive officer now owns 113,874 shares in the company, valued at $32,589,600.06. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,874 shares of company stock worth $8,462,825. Company insiders own 0.39% of the company’s stock.

Trane Technologies Price Performance

Shares of TT stock traded up $3.82 during trading hours on Tuesday, hitting $294.97. The company had a trading volume of 1,031,784 shares, compared to its average volume of 995,411. Trane Technologies plc has a 12 month low of $162.04 and a 12 month high of $306.98. The firm has a market capitalization of $66.98 billion, a price-to-earnings ratio of 33.34, a PEG ratio of 2.43 and a beta of 1.05. The firm’s fifty day moving average is $290.05 and its 200 day moving average is $252.29. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.78 and a current ratio of 1.13.

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

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a $0.84 dividend. The ex-dividend date is Thursday, June 6th. This represents a $3.36 annualized dividend and a dividend yield of 1.14%. Trane Technologies’s dividend payout ratio is currently 38.23%.

Analyst Ratings Changes

Several research firms recently weighed in on TT. The Goldman Sachs Group boosted their price objective on Trane Technologies from $253.00 to $287.00 and gave the stock a “neutral” rating in a research report on Monday, February 5th. Citigroup boosted their price objective on Trane Technologies from $309.00 to $355.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Barclays boosted their price objective on Trane Technologies from $286.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Stephens boosted their price objective 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. Finally, Royal Bank of Canada boosted their price target on Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a research note on Friday, February 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Trane Technologies has an average rating of “Hold” and an average price target of $251.83.

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.