Trane Technologies plc (NYSE:TT) Shares Sold by Lafayette Investments Inc.

Lafayette Investments Inc. reduced its position in shares of Trane Technologies plc (NYSE:TT) by 6.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,722 shares of the company’s stock after selling 125 shares during the period. Lafayette Investments Inc.’s holdings in Trane Technologies were worth $420,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. BKM Wealth Management LLC acquired a new stake in Trane Technologies in the fourth quarter valued at $25,000. Venturi Wealth Management LLC raised its holdings in Trane Technologies by 139.7% in the third quarter. Venturi Wealth Management LLC now owns 151 shares of the company’s stock valued at $31,000 after acquiring an additional 88 shares in the last quarter. Live Oak Investment Partners acquired a new stake in Trane Technologies in the fourth quarter valued at $30,000. Avior Wealth Management LLC raised its holdings in Trane Technologies by 58.0% in the third quarter. Avior Wealth Management LLC now owns 177 shares of the company’s stock valued at $36,000 after acquiring an additional 65 shares in the last quarter. Finally, Rosenberg Matthew Hamilton raised its holdings in Trane Technologies by 27.2% in the fourth quarter. Rosenberg Matthew Hamilton now owns 192 shares of the company’s stock valued at $47,000 after acquiring an additional 41 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Price Performance

TT traded up $2.48 on Friday, reaching $292.04. The company had a trading volume of 222,646 shares, compared to its average volume of 986,892. The company has a fifty day moving average of $289.41 and a 200-day moving average of $250.29. The company has a market capitalization of $66.31 billion, a P/E ratio of 32.92, a PEG ratio of 2.47 and a beta of 1.05. The company has a current ratio of 1.13, a quick ratio of 0.78 and a debt-to-equity ratio of 0.57. Trane Technologies plc has a one year low of $162.04 and a one year high of $306.98.

Trane Technologies (NYSE:TT) last announced its earnings results on Thursday, February 1st. The company reported $2.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.13 by $0.04. The firm had revenue of $4.42 billion during the quarter, compared to analyst estimates of $4.43 billion. Trane Technologies had a net margin of 11.45% and a return on equity of 32.01%. Trane Technologies’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.82 EPS. As a group, equities research analysts anticipate that Trane Technologies plc will post 10.2 earnings per share for the current year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a $0.84 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $3.36 dividend on an annualized basis and a yield of 1.15%. Trane Technologies’s dividend payout ratio is presently 38.23%.

Insider Activity at Trane Technologies

In related news, SVP Keith A. Sultana sold 1,637 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $267.74, for a total value of $438,290.38. Following the completion of the transaction, the senior vice president now owns 42,374 shares in the company, valued at approximately $11,345,214.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Trane Technologies news, CFO Christopher J. Kuehn sold 3,762 shares of the company’s stock in a transaction dated 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 approximately $17,673,237.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Keith A. Sultana sold 1,637 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $267.74, for a total transaction of $438,290.38. Following the completion of the sale, the senior vice president now directly owns 42,374 shares of the company’s stock, valued at $11,345,214.76. The disclosure for this sale can be found here. Insiders sold 29,874 shares of company stock worth $8,462,825 in the last 90 days. Corporate insiders own 0.39% of the company’s stock.

Analyst Upgrades and Downgrades

TT has been the topic of several recent analyst reports. The Goldman Sachs Group upped their price target on shares of Trane Technologies from $253.00 to $287.00 and gave the company a “neutral” rating in a report on Monday, February 5th. Citigroup boosted their target price on shares of Trane Technologies from $309.00 to $355.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Barclays boosted their target price on shares of Trane Technologies from $286.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Stephens boosted their target price on shares of Trane Technologies from $235.00 to $280.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 6th. Finally, Royal Bank of Canada boosted their target price on shares of Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a research note on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Trane Technologies has an average rating of “Hold” and an average price target of $251.83.

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.