Vinva Investment Management Ltd Decreases Stake in Trane Technologies plc (NYSE:TT)

Vinva Investment Management Ltd lessened its stake in shares of Trane Technologies plc (NYSE:TT) by 34.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 11,368 shares of the company’s stock after selling 5,888 shares during the quarter. Vinva Investment Management Ltd’s holdings in Trane Technologies were worth $4,216,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Global Wealth Strategies & Associates purchased a new position in shares of Trane Technologies during the fourth quarter worth about $26,000. Sound Income Strategies LLC grew its holdings in shares of Trane Technologies by 1,314.3% during the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock worth $37,000 after purchasing an additional 92 shares in the last quarter. Flagship Wealth Advisors LLC purchased a new position in shares of Trane Technologies during the fourth quarter worth about $37,000. Golden State Wealth Management LLC purchased a new position in shares of Trane Technologies during the fourth quarter worth about $39,000. Finally, Legacy Investment Solutions LLC purchased a new position in shares of Trane Technologies during the third quarter worth about $44,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

TT has been the subject of a number of recent research reports. Melius downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price for the company. in a research report on Tuesday, January 28th. Royal Bank of Canada boosted their target price on Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research report on Friday, January 3rd. UBS Group dropped their target price on Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Barclays dropped their target price on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. Finally, Wells Fargo & Company dropped their target price on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $413.69.

Trane Technologies Price Performance

TT opened at $350.28 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. Trane Technologies plc has a 52-week low of $286.32 and a 52-week high of $422.00. The stock has a market capitalization of $78.56 billion, a PE ratio of 31.14, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. The stock’s 50 day moving average price is $362.58 and its 200-day moving average price is $379.83.

Trane Technologies (NYSE:TT) last posted its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, beating the consensus estimate 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, equities research analysts predict that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.07%. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies’s dividend payout ratio is presently 33.42%.

Insider Buying and Selling

In other news, CEO David S. Regnery sold 2,754 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total value of $984,114.36. Following the sale, the chief executive officer now directly owns 132,969 shares of the company’s stock, valued at approximately $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 accessible through this link. Also, CFO Christopher J. Kuehn sold 876 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total value of $313,099.92. Following the completion of the sale, the chief financial officer now directly owns 63,841 shares in the company, valued at approximately $22,818,050.22. This represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,234 shares of company stock valued at $2,588,102 over the last ninety days. Company insiders own 0.38% of the company’s stock.

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.