Trane Technologies plc $TT Shares Sold by Hilltop Holdings Inc.

Hilltop Holdings Inc. cut its stake in Trane Technologies plc (NYSE:TT) by 65.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 686 shares of the company’s stock after selling 1,318 shares during the period. Hilltop Holdings Inc.’s holdings in Trane Technologies were worth $286,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in TT. Modern Wealth Management LLC grew its holdings in Trane Technologies by 1.5% in the 1st quarter. Modern Wealth Management LLC now owns 3,242 shares of the company’s stock valued at $1,388,000 after buying an additional 49 shares in the last quarter. Keebeck Wealth Management purchased a new position in shares of Trane Technologies during the 1st quarter worth $288,000. Greenline Wealth Management LLC boosted its position in shares of Trane Technologies by 5.7% during the 1st quarter. Greenline Wealth Management LLC now owns 522 shares of the company’s stock valued at $217,000 after acquiring an additional 28 shares during the last quarter. Gibbs Wealth Management acquired a new position in shares of Trane Technologies during the 1st quarter valued at about $622,000. Finally, Sei Investments Co. grew its holdings in shares of Trane Technologies by 261.5% in the first quarter. Sei Investments Co. now owns 357,337 shares of the company’s stock valued at $148,915,000 after purchasing an additional 258,478 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insiders Place Their Bets

In other Trane Technologies news, insider Donald E. Simmons sold 4,593 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total value of $2,296,500.00. Following the sale, the insider owned 3,819 shares of the company’s stock, valued at $1,909,500. The trade was a 54.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.43% of the company’s stock.

Trane Technologies Trading Down 2.6%

NYSE TT opened at $470.66 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77. The stock has a market capitalization of $104.04 billion, a P/E ratio of 36.40, a PEG ratio of 2.22 and a beta of 1.19. The firm’s 50-day moving average is $471.04 and its two-hundred day moving average is $451.67. Trane Technologies plc has a 12 month low of $348.06 and a 12 month high of $505.87.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.10. The business had revenue of $4.97 billion during the quarter, compared to analysts’ expectations of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period last year, the business earned $2.45 earnings per share. On average, sell-side analysts anticipate that Trane Technologies plc will post 14.89 earnings per share for the current year.

Trane Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be issued a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, September 4th. Trane Technologies’s dividend payout ratio (DPR) is 32.48%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Citigroup lifted their target price on shares of Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a report on Friday, July 17th. KeyCorp lifted their price target on shares of Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Royal Bank Of Canada upped their price objective on Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. Finally, Barclays increased their price objective on Trane Technologies from $507.00 to $585.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $516.67.

About Trane Technologies

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.