Impax Asset Management Group plc Sells 71,482 Shares of Trane Technologies plc (NYSE:TT)

Impax Asset Management Group plc cut its holdings in Trane Technologies plc (NYSE:TT) by 14.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 427,315 shares of the company’s stock after selling 71,482 shares during the quarter. Impax Asset Management Group plc’s holdings in Trane Technologies were worth $157,829,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. IFP Advisors Inc raised its stake in Trane Technologies by 3.2% in the fourth quarter. IFP Advisors Inc now owns 2,783 shares of the company’s stock worth $1,028,000 after buying an additional 85 shares in the last quarter. Birchcreek Wealth Management LLC boosted its position in Trane Technologies by 11.6% during the 4th quarter. Birchcreek Wealth Management LLC now owns 1,719 shares of the company’s stock valued at $635,000 after acquiring an additional 178 shares in the last quarter. World Equity Group Inc. grew its holdings in shares of Trane Technologies by 116.2% during the 4th quarter. World Equity Group Inc. now owns 1,280 shares of the company’s stock worth $473,000 after acquiring an additional 688 shares during the period. MONECO Advisors LLC raised its holdings in Trane Technologies by 18.9% in the fourth quarter. MONECO Advisors LLC now owns 975 shares of the company’s stock worth $360,000 after purchasing an additional 155 shares in the last quarter. Finally, Howard Capital Management Inc. bought a new position in shares of Trane Technologies in the 4th quarter worth about $527,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Performance

Shares of NYSE:TT opened at $354.56 on Monday. The stock has a market capitalization of $79.52 billion, a P/E ratio of 31.52, 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. 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 fifty day simple moving average of $374.82 and a two-hundred day simple moving average of $380.23.

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

Trane Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.06%. The ex-dividend date is Friday, March 7th. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s dividend payout ratio is 29.87%.

Insider Buying and Selling

In related news, CEO David S. Regnery sold 2,754 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total transaction of $984,114.36. Following the completion of the sale, the chief executive officer now directly owns 132,969 shares in the company, valued at $47,515,142.46. This represents a 2.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Christopher J. Kuehn sold 770 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $358.39, for a total transaction of $275,960.30. Following the sale, the chief financial officer now directly owns 62,221 shares of the company’s stock, valued at approximately $22,299,384.19. The trade was a 1.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,563 shares of company stock valued at $4,388,966 in the last 90 days. Company insiders own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on TT shares. UBS Group reduced their price objective 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. Melius cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective for the company. in a report on Tuesday, January 28th. Citigroup lowered their target price on Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Barclays lifted their price target on shares of Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Finally, Royal Bank of Canada boosted their price objective on Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a research note on Friday, January 3rd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Trane Technologies currently has a consensus rating of “Hold” and a consensus price target of $415.25.

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.