Silvant Capital Management LLC Sells 1,274 Shares of Trane Technologies plc $TT

Silvant Capital Management LLC decreased its holdings in shares of Trane Technologies plc (NYSE:TT) by 6.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,405 shares of the company’s stock after selling 1,274 shares during the quarter. Silvant Capital Management LLC’s holdings in Trane Technologies were worth $7,344,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. King Luther Capital Management Corp increased its position in Trane Technologies by 1.3% during the 2nd quarter. King Luther Capital Management Corp now owns 1,942 shares of the company’s stock worth $849,000 after purchasing an additional 24 shares in the last quarter. Old Port Advisors boosted its position in Trane Technologies by 3.2% in the third quarter. Old Port Advisors now owns 778 shares of the company’s stock valued at $328,000 after buying an additional 24 shares in the last quarter. OneAscent Wealth Management LLC grew its stake in shares of Trane Technologies by 1.5% during the third quarter. OneAscent Wealth Management LLC now owns 1,627 shares of the company’s stock worth $686,000 after buying an additional 24 shares during the last quarter. Bridgewater Advisors Inc. increased its holdings in shares of Trane Technologies by 3.7% during the third quarter. Bridgewater Advisors Inc. now owns 670 shares of the company’s stock worth $285,000 after buying an additional 24 shares in the last quarter. Finally, West Family Investments Inc. lifted its stake in shares of Trane Technologies by 2.3% in the 3rd quarter. West Family Investments Inc. now owns 1,072 shares of the company’s stock valued at $452,000 after acquiring an additional 24 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TT has been the subject of a number of recent research reports. Wells Fargo & Company upped their target price on Trane Technologies from $375.00 to $400.00 and gave the stock an “underweight” rating in a report on Friday, January 30th. KeyCorp raised shares of Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 price target for the company in a research note on Monday, December 15th. Citigroup boosted their price objective on shares of Trane Technologies from $513.00 to $525.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Morgan Stanley lowered their target price on Trane Technologies from $550.00 to $535.00 and set an “overweight” rating for the company in a research report on Tuesday, January 13th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $484.67.

Trane Technologies Stock Performance

Shares of TT opened at $433.46 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The firm’s fifty day simple moving average is $424.27 and its two-hundred day simple moving average is $417.09. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $479.37. The stock has a market capitalization of $95.94 billion, a P/E ratio of 33.39, a price-to-earnings-growth ratio of 2.25 and a beta of 1.19.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.81 by $0.05. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The company had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $5.09 billion. During the same period in the previous year, the business earned $2.61 EPS. The firm’s revenue was up 5.6% compared to the same quarter last year. As a group, analysts predict that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be paid a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 1.0%. This is a boost from Trane Technologies’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Friday, March 6th. Trane Technologies’s payout ratio is presently 32.36%.

Insiders Place Their Bets

In related news, CFO Christopher J. Kuehn sold 2,389 shares of the business’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $462.70, for a total transaction of $1,105,390.30. Following the transaction, the chief financial officer owned 60,486 shares in the company, valued at $27,986,872.20. The trade was a 3.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David S. Regnery sold 36,045 shares of the firm’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $422.69, for a total transaction of $15,235,861.05. Following the completion of the sale, the chief executive officer owned 96,948 shares of the company’s stock, valued at $40,978,950.12. The trade was a 27.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 49,378 shares of company stock valued at $21,228,464 over the last 90 days. 0.14% of the stock is currently owned by corporate insiders.

Trane Technologies Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.