Graham Capital Management L.P. Sells 23,254 Shares of Trane Technologies plc (NYSE:TT)

Graham Capital Management L.P. decreased its stake in shares of Trane Technologies plc (NYSE:TT) by 65.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,135 shares of the company’s stock after selling 23,254 shares during the quarter. Graham Capital Management L.P.’s holdings in Trane Technologies were worth $4,482,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. 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 position in Trane Technologies during the fourth quarter valued at approximately $37,000. Golden State Wealth Management LLC purchased a new position in Trane Technologies during the 4th quarter valued at approximately $39,000. BankPlus Trust Department bought a new stake in Trane Technologies in the 4th quarter worth approximately $45,000. Finally, Centricity Wealth Management LLC bought a new position in shares of Trane Technologies during the 4th quarter valued at approximately $55,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO David S. Regnery sold 2,318 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $358.17, for a total value of $830,238.06. Following the completion of the transaction, the chief executive officer now owns 126,831 shares of the company’s stock, valued at $45,427,059.27. The trade was a 1.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Christopher J. Kuehn sold 770 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $358.39, for a total value of $275,960.30. Following the sale, the chief financial officer now directly owns 62,221 shares in the company, valued at $22,299,384.19. This trade represents a 1.22 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,977 shares of company stock worth $2,577,061. Company insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

TT has been the topic of a number of recent research reports. UBS Group decreased 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 note on Friday, January 31st. Barclays lowered their price target on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a report on Monday, March 10th. Melius cut 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. Wells Fargo & Company raised their price objective on Trane Technologies from $330.00 to $370.00 and gave the company an “underweight” rating in a research note on Thursday, May 1st. Finally, Robert W. Baird boosted their target price on Trane Technologies from $360.00 to $396.00 and gave the company a “neutral” rating in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Trane Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $421.07.

Trane Technologies Trading Down 0.3 %

NYSE TT opened at $404.32 on Friday. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $422.00. The company’s 50-day moving average price is $350.05 and its 200-day moving average price is $372.45. The stock has a market cap of $90.17 billion, a PE ratio of 35.94, a PEG ratio of 2.50 and a beta of 1.14. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT) last issued its earnings results on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.25. The business had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.46 billion. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period last year, the company posted $1.94 earnings per share. Equities research analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend is Friday, June 6th. Trane Technologies’s payout ratio is 31.28%.

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.