Carnegie Investment Counsel Has $1.33 Million Stock Holdings in Trane Technologies plc (NYSE:TT)

Carnegie Investment Counsel lessened its stake in shares of Trane Technologies plc (NYSE:TT) by 19.1% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 4,035 shares of the company’s stock after selling 953 shares during the quarter. Carnegie Investment Counsel’s holdings in Trane Technologies were worth $1,327,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Trane Technologies by 0.9% during the first quarter. Vanguard Group Inc. now owns 18,887,514 shares of the company’s stock worth $5,670,032,000 after acquiring an additional 174,251 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Trane Technologies by 0.5% during the first quarter. JPMorgan Chase & Co. now owns 17,393,733 shares of the company’s stock worth $5,221,599,000 after purchasing an additional 80,536 shares during the period. Norges Bank acquired a new stake in shares of Trane Technologies in the fourth quarter valued at approximately $655,804,000. Capital World Investors boosted its stake in shares of Trane Technologies by 0.6% in the fourth quarter. Capital World Investors now owns 2,176,595 shares of the company’s stock valued at $530,870,000 after buying an additional 11,930 shares during the period. Finally, Franklin Resources Inc. grew its position in Trane Technologies by 17.3% during the fourth quarter. Franklin Resources Inc. now owns 1,655,459 shares of the company’s stock worth $403,766,000 after buying an additional 243,996 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Raymond D. Pittard sold 1,805 shares of Trane Technologies stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total transaction of $593,213.25. Following the transaction, the executive vice president now owns 83,517 shares in the company, valued at $27,447,862.05. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Christopher J. Kuehn sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $318.67, for a total value of $1,274,680.00. Following the sale, the chief financial officer now directly owns 61,293 shares in the company, valued at $19,532,240.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Raymond D. Pittard sold 1,805 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total transaction of $593,213.25. Following the sale, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at approximately $27,447,862.05. The disclosure for this sale can be found here. Insiders have sold a total of 44,243 shares of company stock worth $14,216,550 in the last ninety days. Company insiders own 0.38% of the company’s stock.

Trane Technologies Price Performance

Shares of NYSE TT traded up $2.20 during midday trading on Wednesday, reaching $349.87. 146,387 shares of the company were exchanged, compared to its average volume of 1,120,538. The stock’s 50-day moving average price is $334.27 and its 200-day moving average price is $313.12. The stock has a market cap of $79.19 billion, a P/E ratio of 37.14, a PEG ratio of 2.50 and a beta of 1.01. The company has a quick ratio of 0.74, a current ratio of 1.17 and a debt-to-equity ratio of 0.62. Trane Technologies plc has a one year low of $184.02 and a one year high of $353.44.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, topping analysts’ consensus estimates of $3.08 by $0.22. The business had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.13 billion. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. Trane Technologies’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.68 EPS. On average, sell-side analysts anticipate that Trane Technologies plc will post 10.83 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be issued a $0.84 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $3.36 dividend on an annualized basis and a yield of 0.96%. Trane Technologies’s dividend payout ratio (DPR) is presently 35.90%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TT. Barclays lifted their price objective on Trane Technologies from $385.00 to $394.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. The Goldman Sachs Group boosted their price target on Trane Technologies from $287.00 to $326.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Robert W. Baird increased their price objective on shares of Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. UBS Group boosted their target price on shares of Trane Technologies from $330.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, June 3rd. Finally, Stephens reiterated an “equal weight” rating and set a $350.00 price target on shares of Trane Technologies in a research report on Monday, August 5th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Trane Technologies currently has a consensus rating of “Hold” and an average target price of $323.29.

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.