Trust Investment Advisors Sells 329 Shares of Trane Technologies plc (NYSE:TT)

Trust Investment Advisors decreased its position in Trane Technologies plc (NYSE:TT) by 6.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,687 shares of the company’s stock after selling 329 shares during the quarter. Trane Technologies accounts for 1.1% of Trust Investment Advisors’ portfolio, making the stock its 24th biggest holding. Trust Investment Advisors’ holdings in Trane Technologies were worth $1,731,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of TT. Meiji Yasuda Asset Management Co Ltd. raised its stake in Trane Technologies by 12.7% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,632 shares of the company’s stock valued at $1,711,000 after purchasing an additional 521 shares in the last quarter. TD Asset Management Inc. increased its holdings in shares of Trane Technologies by 6.0% in the 4th quarter. TD Asset Management Inc. now owns 1,079,456 shares of the company’s stock worth $398,697,000 after buying an additional 60,986 shares during the last quarter. Modern Wealth Management LLC raised its position in shares of Trane Technologies by 59.9% during the 4th quarter. Modern Wealth Management LLC now owns 3,060 shares of the company’s stock valued at $1,103,000 after buying an additional 1,146 shares in the last quarter. Congress Wealth Management LLC DE bought a new position in shares of Trane Technologies in the 4th quarter valued at about $736,000. Finally, Vanguard Group Inc. grew its position in Trane Technologies by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 19,235,570 shares of the company’s stock worth $7,104,658,000 after acquiring an additional 152,353 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Trading Up 1.8 %

TT opened at $363.90 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The stock’s fifty day moving average is $360.50 and its two-hundred day moving average is $380.25. The company has a market capitalization of $81.62 billion, a P/E ratio of 32.35, a PEG ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a 52 week low of $286.32 and a 52 week high of $422.00.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Thursday, January 30th. The company reported $2.61 EPS for the quarter, beating 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%. Analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s dividend payout ratio is presently 33.42%.

Insider Activity at Trane Technologies

In other news, CEO David S. Regnery sold 2,754 shares of Trane Technologies stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total value of $984,114.36. Following the transaction, the chief executive officer now directly owns 132,969 shares in the company, valued at approximately $47,515,142.46. This trade represents a 2.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Christopher J. Kuehn sold 876 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total value of $313,099.92. Following the sale, the chief financial officer now owns 63,841 shares of the company’s stock, valued at $22,818,050.22. This trade represents a 1.35 % 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 valued at $2,588,102 over the last ninety days. 0.38% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company lowered their price objective 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. Barclays dropped their price objective on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. UBS Group lowered their target price on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a report on Friday, January 31st. Citigroup cut their price target on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Finally, Melius downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective for the company. in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Trane Technologies has a consensus rating of “Hold” and a consensus 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.