Crestone Asset Management LLC Decreases Holdings in Trane Technologies plc (NYSE:TT)

Crestone Asset Management LLC trimmed its holdings in Trane Technologies plc (NYSE:TT) by 34.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,078 shares of the company’s stock after selling 563 shares during the quarter. Crestone Asset Management LLC’s holdings in Trane Technologies were worth $263,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its position in shares of Trane Technologies by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,229,434 shares of the company’s stock worth $299,859,000 after purchasing an additional 21,096 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in Trane Technologies by 24.5% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,705 shares of the company’s stock valued at $416,000 after purchasing an additional 335 shares in the last quarter. Apollon Wealth Management LLC grew its holdings in Trane Technologies by 47.2% during the 4th quarter. Apollon Wealth Management LLC now owns 5,498 shares of the company’s stock worth $1,341,000 after acquiring an additional 1,763 shares in the last quarter. Machina Capital S.A.S. bought a new stake in shares of Trane Technologies in the 4th quarter valued at approximately $829,000. Finally, Maryland State Retirement & Pension System lifted its holdings in Trane Technologies by 1.9% in the fourth quarter. Maryland State Retirement & Pension System now owns 17,720 shares of the company’s stock worth $4,322,000 after acquiring an additional 332 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TT. Stephens boosted their target price on Trane Technologies from $310.00 to $320.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 1st. TD Cowen increased their target price on shares of Trane Technologies from $325.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. The Goldman Sachs Group raised their price objective on shares of Trane Technologies from $287.00 to $326.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. JPMorgan Chase & Co. lifted their target price on shares of Trane Technologies from $247.00 to $300.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Finally, Mizuho increased their price target on shares of Trane Technologies from $280.00 to $325.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $300.54.

Trane Technologies Stock Up 0.5 %

Shares of Trane Technologies stock traded up $1.64 during trading on Wednesday, reaching $327.53. The stock had a trading volume of 647,371 shares, compared to its average volume of 1,022,589. The stock has a fifty day moving average price of $297.50 and a two-hundred day moving average price of $260.63. The company has a current ratio of 1.13, a quick ratio of 0.74 and a debt-to-equity ratio of 0.58. Trane Technologies plc has a 52 week low of $162.04 and a 52 week high of $329.14. The company has a market capitalization of $74.14 billion, a price-to-earnings ratio of 35.00, a P/E/G ratio of 2.54 and a beta of 1.01.

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

Trane Technologies Announces Dividend

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

Insider Buying and Selling

In other news, SVP Keith A. Sultana sold 1,983 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $272.26, for a total transaction of $539,891.58. Following the transaction, the senior vice president now owns 42,575 shares of the company’s stock, valued at approximately $11,591,469.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Keith A. Sultana sold 1,983 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $272.26, for a total value of $539,891.58. Following the completion of the sale, the senior vice president now directly owns 42,575 shares of the company’s stock, valued at $11,591,469.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Christopher J. Kuehn sold 3,762 shares of the stock in a transaction on Wednesday, March 6th. The shares were 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 directly owns 61,691 shares of the company’s stock, 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 valued at $8,024,534 over the last ninety days. 0.39% of the stock is owned by company insiders.

About Trane Technologies

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.