Financial Insights Inc. Sells 1,587 Shares of Trane Technologies plc (NYSE:TT)

Financial Insights Inc. decreased its holdings in shares of Trane Technologies plc (NYSE:TT) by 61.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 983 shares of the company’s stock after selling 1,587 shares during the period. Financial Insights Inc.’s holdings in Trane Technologies were worth $363,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Stonegate Investment Group LLC grew its position in Trane Technologies by 11.9% in the fourth quarter. Stonegate Investment Group LLC now owns 15,378 shares of the company’s stock valued at $5,680,000 after acquiring an additional 1,633 shares during the period. U.S. Capital Wealth Advisors LLC boosted its stake in shares of Trane Technologies by 1,490.3% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 19,417 shares of the company’s stock valued at $7,172,000 after purchasing an additional 18,196 shares in the last quarter. Longboard Asset Management LP bought a new stake in shares of Trane Technologies in the 4th quarter worth about $257,000. Consolidated Planning Corp increased its position in shares of Trane Technologies by 8.3% during the 4th quarter. Consolidated Planning Corp now owns 14,252 shares of the company’s stock worth $5,264,000 after purchasing an additional 1,091 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in Trane Technologies by 4.9% during the 4th quarter. Van ECK Associates Corp now owns 52,058 shares of the company’s stock valued at $19,228,000 after purchasing an additional 2,438 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Barclays decreased their price objective on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. Wells Fargo & Company increased their price target on Trane Technologies from $330.00 to $370.00 and gave the stock an “underweight” rating in a research report on Thursday, May 1st. Citigroup lifted their price objective on Trane Technologies from $415.00 to $445.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Robert W. Baird boosted their price objective on Trane Technologies from $360.00 to $396.00 and gave the stock a “neutral” rating in a research note on Thursday, May 1st. Finally, JPMorgan Chase & Co. raised their target price on Trane Technologies from $334.00 to $400.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $427.47.

Insider Buying and Selling

In related news, insider Donald E. Simmons sold 3,571 shares of the business’s stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the completion of the transaction, the insider now owns 3,593 shares in the company, valued at approximately $1,365,340. The trade was a 49.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.38% of the stock is owned by insiders.

Trane Technologies Stock Performance

Shares of NYSE:TT opened at $423.71 on Tuesday. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $433.60. The stock has a market capitalization of $94.50 billion, a P/E ratio of 37.66, a P/E/G ratio of 2.50 and a beta of 1.14. The business has a 50-day moving average price of $367.75 and a two-hundred day moving average price of $374.96.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.25. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. The business had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same period in the prior year, the business posted $1.94 earnings per share. Trane Technologies’s revenue was up 11.2% compared to the same quarter last year. Equities analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be given a $0.94 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.76 annualized dividend and a dividend yield of 0.89%. Trane Technologies’s dividend payout ratio is currently 31.28%.

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.