Concurrent Investment Advisors LLC Decreases Holdings in Trane Technologies plc (NYSE:TT)

Concurrent Investment Advisors LLC reduced its stake in Trane Technologies plc (NYSE:TT) by 4.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,691 shares of the company’s stock after selling 423 shares during the period. Concurrent Investment Advisors LLC’s holdings in Trane Technologies were worth $3,210,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Swedbank AB raised its stake in shares of Trane Technologies by 2.8% during the third quarter. Swedbank AB now owns 743,794 shares of the company’s stock valued at $289,135,000 after purchasing an additional 20,400 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Trane Technologies by 26.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 67,925 shares of the company’s stock valued at $26,404,000 after purchasing an additional 14,273 shares in the last quarter. Foundations Investment Advisors LLC grew its holdings in Trane Technologies by 93.6% during the 3rd quarter. Foundations Investment Advisors LLC now owns 1,462 shares of the company’s stock valued at $568,000 after purchasing an additional 707 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in Trane Technologies by 5.2% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,023 shares of the company’s stock worth $1,953,000 after buying an additional 250 shares during the period. Finally, Eastern Bank acquired a new position in Trane Technologies in the 3rd quarter worth $250,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Stock Down 1.0 %

Shares of NYSE:TT opened at $366.74 on Friday. The company’s fifty day moving average is $375.72 and its two-hundred day moving average is $379.16. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. Trane Technologies plc has a 1-year low of $274.77 and a 1-year high of $422.00. The stock has a market capitalization of $82.26 billion, a price-to-earnings ratio of 32.60, a price-to-earnings-growth ratio of 2.48 and a beta of 1.05.

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

Trane Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be issued a $0.94 dividend. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.76 annualized dividend and a dividend yield of 1.03%. Trane Technologies’s dividend payout ratio (DPR) is 29.87%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. 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. HSBC lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective for the company. in a research note on Thursday, October 31st. Robert W. Baird cut their target price on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. 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. Finally, UBS Group cut their price target on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a report 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $415.25.

Insider Activity at Trane Technologies

In related news, SVP Mairead Magner sold 198 shares of Trane Technologies stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total value of $70,806.78. Following the sale, the senior vice president now directly owns 13,401 shares in the company, valued at $4,792,331.61. This trade represents a 1.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Christopher J. Kuehn sold 770 shares of the company’s stock in a transaction dated 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 approximately $22,299,384.19. This trade represents a 1.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,563 shares of company stock worth $4,388,966 in the last 90 days. 0.38% of the stock is currently owned by company insiders.

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.