Venturi Wealth Management LLC Cuts Stake in Trane Technologies plc (NYSE:TT)

Venturi Wealth Management LLC lessened its holdings in Trane Technologies plc (NYSE:TT) by 37.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 234 shares of the company’s stock after selling 142 shares during the quarter. Venturi Wealth Management LLC’s holdings in Trane Technologies were worth $86,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in TT. CIBC Asset Management Inc raised its holdings in Trane Technologies by 4.3% during the 4th quarter. CIBC Asset Management Inc now owns 34,358 shares of the company’s stock valued at $12,690,000 after buying an additional 1,416 shares during the last quarter. Sanctuary Advisors LLC increased its position in shares of Trane Technologies by 1.3% in the fourth quarter. Sanctuary Advisors LLC now owns 31,385 shares of the company’s stock valued at $11,497,000 after acquiring an additional 404 shares during the period. Catalyst Capital Advisors LLC bought a new position in shares of Trane Technologies during the fourth quarter valued at about $134,000. Strategic Advisors LLC boosted its holdings in shares of Trane Technologies by 701.5% during the fourth quarter. Strategic Advisors LLC now owns 5,899 shares of the company’s stock worth $2,179,000 after purchasing an additional 5,163 shares during the period. Finally, Sierra Ocean LLC bought a new stake in shares of Trane Technologies in the fourth quarter worth about $63,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Trane Technologies Stock Performance

TT stock opened at $354.56 on Monday. The stock has a market capitalization of $79.52 billion, a PE ratio of 31.52, a price-to-earnings-growth ratio of 2.50 and a beta of 1.05. The stock’s 50 day simple moving average is $374.82 and its 200 day simple moving average is $380.23. Trane Technologies plc has a 12-month low of $279.00 and a 12-month high of $422.00. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Thursday, January 30th. The company reported $2.61 EPS for the quarter, topping the consensus estimate of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. As a group, research analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be paid a dividend of $0.94 per share. The ex-dividend date is Friday, March 7th. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 dividend on an annualized basis and a yield of 1.06%. Trane Technologies’s payout ratio is currently 29.87%.

Wall Street Analysts Forecast Growth

TT has been the topic of a number of recent analyst reports. Citigroup cut their price objective on Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Hsbc Global Res downgraded shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Robert W. Baird cut their target price on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Royal Bank of Canada increased their price target on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research note on Friday, January 3rd. Finally, Wells Fargo & Company lowered their target price on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Trane Technologies has an average rating of “Hold” and a consensus price target of $415.25.

Insider Activity

In other news, SVP Mairead Magner sold 198 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total transaction of $70,806.78. Following the completion of the sale, the senior vice president now owns 13,401 shares of the company’s stock, valued at $4,792,331.61. The trade was a 1.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Christopher J. Kuehn sold 770 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $358.39, for a total value of $275,960.30. Following the completion of the transaction, the chief financial officer now directly owns 62,221 shares in the company, valued at approximately $22,299,384.19. This represents a 1.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,563 shares of company stock valued at $4,388,966 in the last ninety days. 0.38% of the stock is currently owned by company insiders.

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.