Trane Technologies plc $TT Shares Sold by Anchor Capital Advisors LLC

Anchor Capital Advisors LLC lowered its position in shares of Trane Technologies plc (NYSE:TT) by 2.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 60,884 shares of the company’s stock after selling 1,589 shares during the period. Anchor Capital Advisors LLC’s holdings in Trane Technologies were worth $23,696,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CIBC Asset Management Inc boosted its holdings in Trane Technologies by 64.7% in the 4th quarter. CIBC Asset Management Inc now owns 54,376 shares of the company’s stock valued at $21,163,000 after purchasing an additional 21,366 shares in the last quarter. Marble Wealth LLC purchased a new stake in Trane Technologies in the 4th quarter valued at approximately $228,000. Mccarter Private Wealth Services LLC boosted its holdings in Trane Technologies by 5.0% in the 4th quarter. Mccarter Private Wealth Services LLC now owns 4,228 shares of the company’s stock valued at $1,646,000 after purchasing an additional 200 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Trane Technologies by 4.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,698,166 shares of the company’s stock valued at $660,926,000 after purchasing an additional 72,135 shares in the last quarter. Finally, Kesler Norman & Wride LLC boosted its holdings in Trane Technologies by 108.0% in the 4th quarter. Kesler Norman & Wride LLC now owns 2,718 shares of the company’s stock valued at $1,058,000 after purchasing an additional 1,411 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Trading Up 2.4%

Shares of TT opened at $459.21 on Wednesday. The stock has a fifty day moving average of $455.94 and a two-hundred day moving average of $430.21. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10. The company has a market capitalization of $101.51 billion, a PE ratio of 35.52, a price-to-earnings-growth ratio of 2.07 and a beta of 1.20. Trane Technologies plc has a fifty-two week low of $348.06 and a fifty-two week high of $503.47.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Friday, May 1st. The company reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.10. The business had revenue of $4.97 billion during the quarter, compared to the consensus estimate of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.45 EPS. As a group, analysts forecast that Trane Technologies plc will post 14.88 EPS for the current year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be given a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, June 5th. Trane Technologies’s dividend payout ratio is 32.48%.

Insider Buying and Selling at Trane Technologies

In related news, CAO Elizabeth A. Elwell sold 635 shares of the company’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $422.70, for a total transaction of $268,414.50. Following the completion of the sale, the chief accounting officer directly owned 7,100 shares of the company’s stock, valued at approximately $3,001,170. This represents a 8.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David S. Regnery sold 36,045 shares of the company’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $422.69, for a total transaction of $15,235,861.05. Following the completion of the transaction, the chief executive officer directly owned 96,948 shares of the company’s stock, valued at approximately $40,978,950.12. The trade was a 27.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 53,654 shares of company stock valued at $23,269,523 in the last quarter. Company insiders own 0.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TT. Evercore began coverage on Trane Technologies in a report on Monday, April 13th. They issued an “outperform” rating and a $535.00 price objective on the stock. Barclays lifted their price objective on Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” rating in a report on Friday, May 1st. JPMorgan Chase & Co. lifted their price objective on Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a research note on Monday, April 20th. Finally, KeyCorp boosted their price target on Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $506.56.

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.