Trane Technologies plc (NYSE:TT) Shares Sold by Summit Trail Advisors LLC

Summit Trail Advisors LLC reduced its holdings in Trane Technologies plc (NYSE:TT) by 2.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 3,850 shares of the company’s stock after selling 108 shares during the quarter. Summit Trail Advisors LLC’s holdings in Trane Technologies were worth $939,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in TT. International Assets Investment Management LLC increased its stake in Trane Technologies by 24,670.7% during the fourth quarter. International Assets Investment Management LLC now owns 1,034,423 shares of the company’s stock worth $252,296,000 after acquiring an additional 1,030,247 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Trane Technologies by 5.4% during the third quarter. JPMorgan Chase & Co. now owns 17,085,662 shares of the company’s stock worth $3,466,852,000 after acquiring an additional 880,583 shares during the last quarter. FMR LLC increased its stake in Trane Technologies by 12.4% during the third quarter. FMR LLC now owns 5,743,154 shares of the company’s stock worth $1,165,343,000 after acquiring an additional 632,598 shares during the last quarter. Wellington Management Group LLP increased its stake in Trane Technologies by 36.4% during the third quarter. Wellington Management Group LLP now owns 1,639,058 shares of the company’s stock worth $332,581,000 after acquiring an additional 436,997 shares during the last quarter. Finally, Alphinity Investment Management Pty Ltd increased its stake in Trane Technologies by 31.4% during the third quarter. Alphinity Investment Management Pty Ltd now owns 1,812,549 shares of the company’s stock worth $367,784,000 after acquiring an additional 433,388 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 3,762 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $286.48, for a total value of $1,077,737.76. Following the completion of the sale, the chief financial officer now owns 61,691 shares of the company’s stock, valued at $17,673,237.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Christopher J. Kuehn sold 2,767 shares of Trane Technologies stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $268.31, for a total value of $742,413.77. Following the transaction, the chief financial officer now directly owns 54,788 shares in the company, valued at $14,700,168.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Christopher J. Kuehn sold 3,762 shares of Trane Technologies stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $286.48, for a total value of $1,077,737.76. Following the completion of the transaction, the chief financial officer now owns 61,691 shares in the company, valued at $17,673,237.68. The disclosure for this sale can be found here. Insiders have sold a total of 28,237 shares of company stock worth $8,024,534 in the last three months. 0.39% of the stock is owned by company insiders.

Trane Technologies Stock Performance

NYSE:TT traded up $6.54 during trading hours on Monday, reaching $325.83. 706,994 shares of the stock were exchanged, compared to its average volume of 1,029,506. The stock has a market capitalization of $73.75 billion, a P/E ratio of 34.59, a P/E/G ratio of 2.54 and a beta of 1.01. Trane Technologies plc has a 52 week low of $162.04 and a 52 week high of $327.09. The company has a quick ratio of 0.74, a current ratio of 1.13 and a debt-to-equity ratio of 0.58. The firm has a 50 day simple moving average of $295.83 and a 200-day simple moving average of $258.71.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.30. The business had revenue of $4.22 billion for the quarter, compared to the consensus estimate of $3.99 billion. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. The business’s revenue was up 15.0% on a year-over-year basis. During the same quarter last year, the business posted $1.41 EPS. As a group, sell-side analysts forecast that Trane Technologies plc will post 10.48 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Thursday, June 6th. Trane Technologies’s dividend payout ratio is currently 35.90%.

Analyst Ratings Changes

TT has been the subject of a number of recent research reports. Robert W. Baird increased their target price on Trane Technologies from $315.00 to $344.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Barclays increased their price target on Trane Technologies from $286.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. TD Cowen increased their price target on Trane Technologies from $325.00 to $360.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Wells Fargo & Company increased their price target on Trane Technologies from $281.00 to $295.00 and gave the company an “underweight” rating in a report on Thursday. Finally, JPMorgan Chase & Co. increased their price target on Trane Technologies from $247.00 to $300.00 and gave the company a “neutral” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $300.54.

Trane Technologies 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.