Nottingham Advisors Inc. Reduces Stake in Trane Technologies plc (NYSE:TT)

Nottingham Advisors Inc. lessened its stake in shares of Trane Technologies plc (NYSE:TT) by 12.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 663 shares of the company’s stock after selling 98 shares during the quarter. Nottingham Advisors Inc.’s holdings in Trane Technologies were worth $245,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of TT. Vanguard Group Inc. grew its stake in Trane Technologies by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 19,235,570 shares of the company’s stock valued at $7,104,658,000 after acquiring an additional 152,353 shares in the last quarter. State Street Corp boosted its holdings in Trane Technologies by 0.8% in the 3rd quarter. State Street Corp now owns 9,769,161 shares of the company’s stock valued at $3,797,565,000 after purchasing an additional 77,830 shares during the period. Geode Capital Management LLC boosted its holdings in Trane Technologies by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 4,775,263 shares of the company’s stock valued at $1,760,549,000 after purchasing an additional 136,349 shares during the period. Norges Bank purchased a new position in shares of Trane Technologies during the 4th quarter valued at $1,117,816,000. Finally, Raymond James Financial Inc. bought a new position in shares of Trane Technologies in the fourth quarter worth $611,322,000. 82.97% of the stock is currently owned by institutional investors.

Insider Activity at Trane Technologies

In related news, CEO David S. Regnery sold 2,754 shares of Trane Technologies stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total value of $984,114.36. Following the sale, the chief executive officer now owns 132,969 shares in the company, valued at $47,515,142.46. The trade was a 2.03 % decrease in their ownership of the stock. The transaction 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 company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $358.39, for a total transaction of $275,960.30. Following the completion of the transaction, the chief financial officer now owns 62,221 shares of the company’s stock, valued at $22,299,384.19. This trade represents a 1.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,234 shares of company stock worth $2,588,102 in the last 90 days. Company insiders own 0.38% of the company’s stock.

Trane Technologies Stock Performance

Shares of TT stock opened at $348.45 on Thursday. The company has a market capitalization of $78.15 billion, a P/E ratio of 30.97, a PEG ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a fifty-two week low of $286.32 and a fifty-two week high of $422.00. 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 stock has a 50 day moving average price of $354.67 and a two-hundred day moving average price of $379.61.

Trane Technologies (NYSE:TT) last posted its quarterly 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%. Analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 7th were paid a $0.94 dividend. The ex-dividend date was Friday, March 7th. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 annualized dividend and a dividend yield of 1.08%. Trane Technologies’s dividend payout ratio (DPR) is presently 33.42%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TT. Melius Research restated a “hold” rating and set a $398.00 target price on shares of Trane Technologies in a research report on Tuesday, January 28th. Citigroup cut their price objective on Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a report on Monday, January 13th. Royal Bank of Canada lifted their target price on shares of Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a research report on Friday, January 3rd. Melius lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price target on the stock. in a report on Tuesday, January 28th. Finally, Wells Fargo & Company dropped their price objective on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $413.69.

Trane Technologies 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.