Cottage Street Advisors LLC Sells 107 Shares of Trane Technologies plc (NYSE:TT)

Cottage Street Advisors LLC decreased its stake in shares of Trane Technologies plc (NYSE:TT) by 15.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 603 shares of the company’s stock after selling 107 shares during the quarter. Cottage Street Advisors LLC’s holdings in Trane Technologies were worth $223,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Global Wealth Strategies & Associates bought a new position in Trane Technologies during the fourth quarter valued at approximately $26,000. Sound Income Strategies LLC raised its holdings in Trane Technologies by 1,314.3% during the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after buying an additional 92 shares during the period. Flagship Wealth Advisors LLC bought a new position in Trane Technologies during the fourth quarter valued at $37,000. Golden State Wealth Management LLC bought a new stake in shares of Trane Technologies in the 4th quarter worth about $39,000. Finally, Legacy Investment Solutions LLC purchased a new position in shares of Trane Technologies during the 3rd quarter worth about $44,000. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Stock Performance

TT stock opened at $363.90 on Wednesday. Trane Technologies plc has a one year low of $286.32 and a one year high of $422.00. The firm has a market cap of $81.62 billion, a price-to-earnings ratio of 32.35, a PEG ratio of 2.50 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. The firm has a 50-day simple moving average of $360.50 and a two-hundred day simple moving average of $380.25.

Trane Technologies (NYSE:TT) last posted its earnings results on Thursday, January 30th. The company reported $2.61 EPS for the quarter, beating analysts’ consensus estimates 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, equities analysts forecast that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.03%. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date is Friday, March 7th. Trane Technologies’s payout ratio is 33.42%.

Insider Activity at Trane Technologies

In other news, CEO David S. Regnery sold 2,754 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total transaction of $984,114.36. Following the transaction, the chief executive officer now owns 132,969 shares in the company, valued at $47,515,142.46. This represents a 2.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Christopher J. Kuehn sold 876 shares of Trane Technologies stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total transaction of $313,099.92. Following the completion of the sale, the chief financial officer now owns 63,841 shares of the company’s stock, valued at $22,818,050.22. This trade represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,234 shares of company stock valued at $2,588,102 in the last ninety days. Corporate insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on TT shares. Citigroup reduced their price objective on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Melius Research restated a “hold” rating and set a $398.00 price objective on shares of Trane Technologies in a report on Tuesday, January 28th. JPMorgan Chase & Co. lifted their target price on Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Wells Fargo & Company cut their price target on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. Finally, Royal Bank of Canada lifted their price objective on shares of Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Trane Technologies has an average rating of “Hold” and a consensus target price of $413.69.

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.