Trane Technologies plc (NYSE:TT) Shares Sold by Tilt Investment Management Holdings PBC

Tilt Investment Management Holdings PBC lowered its stake in shares of Trane Technologies plc (NYSE:TT) by 23.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 921 shares of the company’s stock after selling 286 shares during the quarter. Tilt Investment Management Holdings PBC’s holdings in Trane Technologies were worth $225,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of TT. Norges Bank acquired a new stake in Trane Technologies during the 4th quarter worth approximately $526,026,000. Moneta Group Investment Advisors LLC increased its position in Trane Technologies by 109,668.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,963,758 shares of the company’s stock worth $330,088,000 after purchasing an additional 1,961,969 shares in the last quarter. First Trust Advisors LP increased its position in Trane Technologies by 2,606.5% during the 1st quarter. First Trust Advisors LP now owns 1,081,171 shares of the company’s stock worth $165,095,000 after purchasing an additional 1,041,224 shares in the last quarter. International Assets Investment Management LLC increased its position in Trane Technologies by 24,670.7% during the 4th quarter. International Assets Investment Management LLC now owns 1,034,423 shares of the company’s stock worth $252,296,000 after purchasing an additional 1,030,247 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in Trane Technologies by 5.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,085,662 shares of the company’s stock worth $3,466,852,000 after purchasing an additional 880,583 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Buying and Selling

In related news, CEO David S. Regnery sold 6,990 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $286.19, for a total transaction of $2,000,468.10. Following the transaction, the chief executive officer now directly owns 113,874 shares in the company, valued at $32,589,600.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Keith A. Sultana sold 1,637 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $267.74, for a total transaction of $438,290.38. Following the transaction, the senior vice president now directly owns 42,374 shares in the company, valued at $11,345,214.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David S. Regnery sold 6,990 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $286.19, for a total value of $2,000,468.10. Following the transaction, the chief executive officer now owns 113,874 shares in the company, valued at $32,589,600.06. The disclosure for this sale can be found here. Insiders have sold 29,874 shares of company stock worth $8,462,825 over the last ninety days. 0.39% of the stock is owned by insiders.

Trane Technologies Stock Performance

Trane Technologies stock opened at $289.39 on Friday. The stock has a market cap of $65.71 billion, a P/E ratio of 32.92, a price-to-earnings-growth 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. The stock has a 50 day moving average of $289.41 and a 200-day moving average of $250.29. Trane Technologies plc has a 52 week low of $162.04 and a 52 week high of $306.98.

Trane Technologies (NYSE:TT) last released its earnings results on Thursday, February 1st. The company reported $2.17 EPS for the quarter, beating the consensus estimate of $2.13 by $0.04. The company had revenue of $4.42 billion during the quarter, compared to analysts’ expectations of $4.43 billion. Trane Technologies had a return on equity of 32.01% and a net margin of 11.45%. The business’s revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.82 EPS. On average, analysts expect that Trane Technologies plc will post 10.2 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Thursday, June 6th. Trane Technologies’s dividend payout ratio (DPR) is currently 38.23%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Barclays increased their target price on shares of Trane Technologies from $286.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Royal Bank of Canada increased their target price on shares of Trane Technologies from $231.00 to $246.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. Stephens increased their price objective on shares of Trane Technologies from $235.00 to $280.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. Citigroup increased their price objective on shares of Trane Technologies from $309.00 to $355.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Finally, The Goldman Sachs Group increased their price objective on shares of Trane Technologies from $253.00 to $287.00 and gave the company a “neutral” rating in a research report on Monday, February 5th. One investment 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $251.83.

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.