Securian Asset Management Inc. Cuts Holdings in Trane Technologies plc (NYSE:TT)

Securian Asset Management Inc. lowered its stake in shares of Trane Technologies plc (NYSE:TT) by 3.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 12,070 shares of the company’s stock after selling 392 shares during the period. Securian Asset Management Inc.’s holdings in Trane Technologies were worth $4,458,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Global Wealth Strategies & Associates purchased a new stake in Trane Technologies in the fourth quarter worth approximately $26,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Trane Technologies during the third quarter worth approximately $27,000. Sound Income Strategies LLC lifted its holdings in shares of Trane Technologies by 1,314.3% in the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock worth $37,000 after acquiring an additional 92 shares during the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of Trane Technologies in the 4th quarter valued at $39,000. Finally, Legacy Investment Solutions LLC bought a new position in shares of Trane Technologies during the 3rd quarter valued at $44,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on TT shares. UBS Group lowered their price target on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Melius cut Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price for the company. in a report on Tuesday, January 28th. Northcoast Research started coverage on Trane Technologies in a research note on Friday, November 22nd. They issued a “buy” rating and a $500.00 price target on the stock. Melius Research reiterated a “hold” rating and issued a $398.00 price objective on shares of Trane Technologies in a research report on Tuesday, January 28th. Finally, Citigroup cut their target price 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. One research 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $413.69.

Insider Activity

In other Trane Technologies news, SVP Evan M. Turtz sold 318 shares of Trane Technologies stock in a transaction on Monday, February 10th. The stock was sold at an average price of $358.12, for a total transaction of $113,882.16. Following the completion of the transaction, the senior vice president now owns 20,513 shares in the company, valued at approximately $7,346,115.56. The trade was a 1.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Mairead Magner sold 198 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total value of $70,806.78. Following the completion of the sale, the senior vice president now directly owns 13,401 shares in the company, valued at approximately $4,792,331.61. This represents a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,234 shares of company stock worth $2,588,102. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Trading Up 1.7 %

Shares of TT opened at $339.72 on Thursday. Trane Technologies plc has a 1-year low of $285.62 and a 1-year high of $422.00. The firm has a market capitalization of $76.20 billion, a price-to-earnings ratio of 30.20, a PEG ratio of 2.50 and a beta of 1.08. The firm’s 50-day moving average price is $366.02 and its 200-day moving average price is $380.11. 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 posted its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, topping analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. Sell-side analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a dividend of $0.94 per share. The ex-dividend date is Friday, March 7th. This represents a $3.76 annualized dividend and a yield of 1.11%. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s dividend payout ratio (DPR) is currently 33.42%.

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.