Cambria Investment Management L.P. Sells 1,509 Shares of Trane Technologies plc $TT

Cambria Investment Management L.P. trimmed its holdings in shares of Trane Technologies plc (NYSE:TT) by 31.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,332 shares of the company’s stock after selling 1,509 shares during the quarter. Cambria Investment Management L.P.’s holdings in Trane Technologies were worth $1,406,000 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 TT. Brighton Jones LLC raised its stake in shares of Trane Technologies by 60.0% in the 4th quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock valued at $2,288,000 after acquiring an additional 2,323 shares in the last quarter. Sivia Capital Partners LLC boosted its position in Trane Technologies by 22.4% during the second quarter. Sivia Capital Partners LLC now owns 1,665 shares of the company’s stock worth $728,000 after purchasing an additional 305 shares during the period. Schnieders Capital Management LLC. bought a new stake in Trane Technologies during the second quarter worth approximately $227,000. Rockefeller Capital Management L.P. grew its holdings in Trane Technologies by 7.4% during the second quarter. Rockefeller Capital Management L.P. now owns 27,909 shares of the company’s stock valued at $12,208,000 after purchasing an additional 1,934 shares during the last quarter. Finally, Empowered Funds LLC raised its position in shares of Trane Technologies by 69.5% in the second quarter. Empowered Funds LLC now owns 15,002 shares of the company’s stock valued at $6,562,000 after purchasing an additional 6,150 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

TT has been the subject of a number of analyst reports. Oppenheimer boosted their price objective on shares of Trane Technologies from $460.00 to $468.00 and gave the stock an “outperform” rating in a research note on Friday, January 30th. Barclays raised their target price on shares of Trane Technologies from $505.00 to $507.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. Royal Bank Of Canada boosted their target price on shares of Trane Technologies from $469.00 to $470.00 and gave the stock a “sector perform” rating in a research report on Friday, January 30th. UBS Group decreased their price target on shares of Trane Technologies from $544.00 to $520.00 and set a “buy” rating for the company in a report on Monday, January 5th. Finally, KeyCorp raised Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 price target on the stock in a research report on Monday, December 15th. One 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 given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $484.67.

Trane Technologies Stock Down 0.9%

Shares of TT stock opened at $422.99 on Friday. Trane Technologies plc has a one year low of $298.15 and a one year high of $479.37. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.92. The stock has a fifty day moving average price of $429.67 and a 200 day moving average price of $417.28. The stock has a market cap of $93.62 billion, a P/E ratio of 32.59, a price-to-earnings-growth ratio of 2.25 and a beta of 1.19.

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

Trane Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 6th will be paid a $1.05 dividend. The ex-dividend date of this dividend is Friday, March 6th. This is an increase from Trane Technologies’s previous quarterly dividend of $0.94. This represents a $4.20 dividend on an annualized basis and a yield of 1.0%. Trane Technologies’s payout ratio is presently 32.36%.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, CAO Elizabeth A. Elwell sold 635 shares of Trane Technologies stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $422.70, for a total transaction of $268,414.50. Following the sale, the chief accounting officer directly owned 7,100 shares of the company’s stock, valued at approximately $3,001,170. The trade was a 8.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Christopher J. Kuehn sold 2,389 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The shares were 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 owned 60,486 shares in the company, valued at approximately $27,986,872.20. This represents a 3.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 49,378 shares of company stock worth $21,228,464. 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.