Hardy Reed LLC Has $3.63 Million Stake in Trane Technologies plc $TT

Hardy Reed LLC lowered its stake in Trane Technologies plc (NYSE:TT) by 19.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,604 shares of the company’s stock after selling 2,075 shares during the quarter. Hardy Reed LLC’s holdings in Trane Technologies were worth $3,631,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of TT. Ethic Inc. increased its stake in shares of Trane Technologies by 6.6% in the second quarter. Ethic Inc. now owns 26,836 shares of the company’s stock worth $11,601,000 after purchasing an additional 1,672 shares in the last quarter. Nordea Investment Management AB grew its stake in Trane Technologies by 2.4% in the 3rd quarter. Nordea Investment Management AB now owns 2,513,508 shares of the company’s stock valued at $1,051,049,000 after buying an additional 57,774 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Trane Technologies during the 3rd quarter valued at $6,571,000. Boston Common Asset Management LLC purchased a new stake in shares of Trane Technologies during the third quarter worth $9,546,000. Finally, Compass Wealth Management LLC boosted its holdings in shares of Trane Technologies by 3,785.4% in the third quarter. Compass Wealth Management LLC now owns 27,198 shares of the company’s stock worth $11,476,000 after acquiring an additional 26,498 shares during the period. 82.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TT. Oppenheimer increased their price objective on Trane Technologies from $460.00 to $468.00 and gave the stock an “outperform” rating in a report on Friday, January 30th. Royal Bank Of Canada raised their price objective on shares of Trane Technologies from $469.00 to $470.00 and gave the company a “sector perform” rating in a research report on Friday, January 30th. Morgan Stanley decreased their target price on shares of Trane Technologies from $550.00 to $535.00 and set an “overweight” rating on the stock in a report on Tuesday, January 13th. Barclays raised their price target on shares of Trane Technologies from $505.00 to $507.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Trane Technologies from $434.00 to $460.00 and gave the company a “neutral” rating in a research report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $484.67.

Trane Technologies Trading Up 1.0%

Shares of TT stock opened at $465.04 on Friday. The business has a 50-day moving average price of $403.90 and a two-hundred day moving average price of $414.44. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $479.37. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. The firm has a market cap of $102.93 billion, a P/E ratio of 35.83, a price-to-earnings-growth ratio of 2.45 and a beta of 1.21.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.81 by $0.05. The company had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $5.09 billion. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.Trane Technologies’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period last year, the firm posted $2.61 EPS. Equities analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be paid a $1.05 dividend. This is a boost from Trane Technologies’s previous quarterly dividend of $0.94. This represents a $4.20 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, March 6th. Trane Technologies’s payout ratio is presently 32.36%.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 822 shares of Trane Technologies stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $462.57, for a total value of $380,232.54. Following the transaction, the insider directly owned 3,819 shares of the company’s stock, valued at $1,766,554.83. The trade was a 17.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David S. Regnery sold 5,588 shares of the stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $462.60, for a total value of $2,585,008.80. Following the sale, the chief executive officer directly owned 96,948 shares of the company’s stock, valued at approximately $44,848,144.80. This trade represents a 5.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 8,936 shares of company stock valued at $4,133,991. Corporate insiders own 0.14% of the company’s stock.

About Trane Technologies

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.