L & S Advisors Inc Sells 15,516 Shares of Trane Technologies plc $TT

L & S Advisors Inc lessened its stake in Trane Technologies plc (NYSE:TT) by 80.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,855 shares of the company’s stock after selling 15,516 shares during the period. L & S Advisors Inc’s holdings in Trane Technologies were worth $1,627,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Financial Consulate Inc. purchased a new stake in Trane Technologies during the third quarter valued at $25,000. Icon Advisers Inc. Co. bought a new stake in shares of Trane Technologies during the 2nd quarter valued at about $26,000. Hantz Financial Services Inc. increased its position in shares of Trane Technologies by 1,016.7% during the 2nd quarter. Hantz Financial Services Inc. now owns 67 shares of the company’s stock valued at $29,000 after purchasing an additional 61 shares during the last quarter. United Community Bank lifted its stake in shares of Trane Technologies by 134.4% in the 3rd quarter. United Community Bank now owns 75 shares of the company’s stock worth $32,000 after purchasing an additional 43 shares during the period. Finally, Halbert Hargrove Global Advisors LLC boosted its holdings in shares of Trane Technologies by 34.2% in the third quarter. Halbert Hargrove Global Advisors LLC now owns 102 shares of the company’s stock worth $43,000 after buying an additional 26 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the stock. Melius Research raised shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 target price for the company in a report on Wednesday, January 7th. UBS Group reduced their price objective on Trane Technologies from $544.00 to $520.00 and set a “buy” rating for the company in a research note on Monday, January 5th. Morgan Stanley decreased their target price on Trane Technologies from $550.00 to $535.00 and set an “overweight” rating on the stock in a report on Tuesday, January 13th. Royal Bank Of Canada lifted their target price on Trane Technologies from $469.00 to $470.00 and gave the company a “sector perform” rating in a research report on Friday, January 30th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $484.67.

Trane Technologies Price Performance

NYSE:TT opened at $459.04 on Thursday. The business’s 50-day simple moving average is $407.88 and its two-hundred day simple moving average is $415.03. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $479.37. The stock has a market cap of $101.60 billion, a PE ratio of 35.37, a P/E/G ratio of 2.48 and a beta of 1.21. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.46.

Trane Technologies (NYSE:TT) last released its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.05. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The firm had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $5.09 billion. During the same quarter last year, the business posted $2.61 earnings per share. The firm’s revenue was up 5.6% on a year-over-year basis. As a group, analysts forecast that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be issued a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. This is a boost from Trane Technologies’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Friday, March 6th. Trane Technologies’s payout ratio is presently 28.97%.

Insider Activity at Trane Technologies

In other Trane Technologies news, CAO Elizabeth A. Elwell sold 137 shares of the stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $462.48, for a total transaction of $63,359.76. Following the completion of the transaction, the chief accounting officer owned 7,100 shares of the company’s stock, valued at $3,283,608. This represents a 1.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Christopher J. Kuehn sold 2,389 shares of Trane Technologies stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $462.70, for a total value of $1,105,390.30. Following the completion of the sale, the chief financial officer directly owned 60,486 shares in the company, valued at $27,986,872.20. This trade represents a 3.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 8,936 shares of company stock worth $4,133,991 in the last three months. Insiders own 0.14% of the company’s stock.

Trane Technologies Company Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.