Weatherly Asset Management L. P. Cuts Stock Holdings in Trane Technologies plc (NYSE:TT)

Weatherly Asset Management L. P. trimmed its stake in shares of Trane Technologies plc (NYSE:TT) by 3.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 12,749 shares of the company’s stock after selling 473 shares during the period. Weatherly Asset Management L. P.’s holdings in Trane Technologies were worth $3,110,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TT. Keel Point LLC grew its position in shares of Trane Technologies by 3.0% in the 4th quarter. Keel Point LLC now owns 1,326 shares of the company’s stock worth $323,000 after buying an additional 39 shares during the last quarter. Rosenberg Matthew Hamilton grew its position in shares of Trane Technologies by 27.2% in the 4th quarter. Rosenberg Matthew Hamilton now owns 192 shares of the company’s stock worth $47,000 after buying an additional 41 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in shares of Trane Technologies by 2.3% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,847 shares of the company’s stock worth $450,000 after buying an additional 42 shares during the last quarter. Cedrus LLC grew its position in shares of Trane Technologies by 2.6% in the 4th quarter. Cedrus LLC now owns 1,669 shares of the company’s stock worth $407,000 after buying an additional 43 shares during the last quarter. Finally, Certuity LLC grew its position in shares of Trane Technologies by 3.1% in the 3rd quarter. Certuity LLC now owns 1,549 shares of the company’s stock worth $314,000 after buying an additional 46 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Price Performance

Shares of NYSE:TT traded up $3.82 during trading on Tuesday, reaching $294.97. 1,031,784 shares of the company’s stock traded hands, compared to its average volume of 995,411. Trane Technologies plc has a fifty-two week low of $162.04 and a fifty-two week high of $306.98. The company has a quick ratio of 0.78, a current ratio of 1.13 and a debt-to-equity ratio of 0.57. The firm has a market cap of $66.98 billion, a PE ratio of 33.34, a P/E/G ratio of 2.43 and a beta of 1.05. The company has a 50-day simple moving average of $290.05 and a 200-day simple moving average of $252.29.

Trane Technologies (NYSE:TT) last posted its earnings results on Thursday, February 1st. The company reported $2.17 EPS for the quarter, beating analysts’ consensus estimates of $2.13 by $0.04. Trane Technologies had a return on equity of 32.01% and a net margin of 11.45%. The firm had revenue of $4.42 billion for the quarter, compared to analysts’ expectations of $4.43 billion. During the same period last year, the firm earned $1.82 EPS. The company’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, analysts predict that Trane Technologies plc will post 10.2 earnings per share for the current year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date is Thursday, June 6th. Trane Technologies’s dividend payout ratio is presently 38.23%.

Insider Activity at Trane Technologies

In related news, SVP Keith A. Sultana sold 1,637 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $267.74, for a total value of $438,290.38. Following the transaction, the senior vice president now directly owns 42,374 shares of the company’s stock, valued at approximately $11,345,214.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Trane Technologies news, SVP Keith A. Sultana sold 1,637 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $267.74, for a total value of $438,290.38. Following the transaction, the senior vice president now directly owns 42,374 shares of the company’s stock, valued at approximately $11,345,214.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Keith A. Sultana sold 1,983 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $272.26, for a total transaction of $539,891.58. Following the completion of the transaction, the senior vice president now directly owns 42,575 shares in the company, valued at $11,591,469.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,874 shares of company stock valued at $8,462,825. 0.39% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on TT shares. Citigroup lifted their price objective on shares of Trane Technologies from $309.00 to $355.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Stephens boosted their price objective on shares of Trane Technologies from $235.00 to $280.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. Royal Bank of Canada raised their target price on Trane Technologies from $231.00 to $246.00 and gave the stock a “sector perform” rating in a research note on Friday, February 2nd. The Goldman Sachs Group raised their target price on Trane Technologies from $253.00 to $287.00 and gave the stock a “neutral” rating in a research note on Monday, February 5th. Finally, Barclays raised their target price on Trane Technologies from $286.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $251.83.

Trane Technologies Company 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.