Pinion Investment Advisors LLC Lowers Stock Position in Trane Technologies plc (NYSE:TT)

Pinion Investment Advisors LLC reduced its position in shares of Trane Technologies plc (NYSE:TT) by 2.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,215 shares of the company’s stock after selling 63 shares during the quarter. Pinion Investment Advisors LLC’s holdings in Trane Technologies were worth $818,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. increased its position in Trane Technologies by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,248,083 shares of the company’s stock valued at $460,980,000 after acquiring an additional 21,678 shares during the last quarter. State of Michigan Retirement System lifted its stake in shares of Trane Technologies by 5.0% during the 4th quarter. State of Michigan Retirement System now owns 64,513 shares of the company’s stock valued at $23,828,000 after buying an additional 3,100 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in Trane Technologies by 0.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 57,374 shares of the company’s stock worth $21,191,000 after buying an additional 466 shares during the period. Meridian Wealth Management LLC purchased a new stake in Trane Technologies in the 4th quarter worth $236,000. Finally, Fidelis Capital Partners LLC raised its holdings in Trane Technologies by 4.1% during the fourth quarter. Fidelis Capital Partners LLC now owns 1,067 shares of the company’s stock valued at $385,000 after acquiring an additional 42 shares during the period. 82.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Northcoast Research initiated coverage on Trane Technologies in a research note on Friday, November 22nd. They set a “buy” rating and a $500.00 target price on the stock. Citigroup decreased their price objective on Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Melius lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price for the company. in a report on Tuesday, January 28th. Melius Research reaffirmed a “hold” rating and set a $398.00 price target on shares of Trane Technologies in a research note on Tuesday, January 28th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Trane Technologies has an average rating of “Hold” and a consensus target price of $415.25.

Trane Technologies Stock Performance

Shares of TT stock opened at $345.30 on Tuesday. The company’s 50 day moving average is $370.62 and its 200 day moving average is $380.68. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The firm has a market cap of $77.45 billion, a price-to-earnings ratio of 30.69, a PEG ratio of 2.50 and a beta of 1.05. Trane Technologies plc has a 52-week low of $279.00 and a 52-week high of $422.00.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, topping analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. On average, sell-side analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s payout ratio is 29.87%.

Insider Buying and Selling at Trane Technologies

In other news, CEO David S. Regnery sold 2,754 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total transaction of $984,114.36. Following the transaction, the chief executive officer now owns 132,969 shares in the company, valued at $47,515,142.46. This represents a 2.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Mairead Magner sold 4,329 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the sale, the senior vice president now directly owns 12,893 shares in the company, valued at approximately $5,363,488. This represents a 25.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,563 shares of company stock worth $4,388,966 over the last three months. Corporate insiders own 0.38% of the company’s stock.

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.