Trane Technologies plc (NYSE:TT) Shares Sold by Rhumbline Advisers

Rhumbline Advisers trimmed its holdings in shares of Trane Technologies plc (NYSE:TT) by 4.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 436,552 shares of the company’s stock after selling 18,139 shares during the quarter. Rhumbline Advisers’ holdings in Trane Technologies were worth $161,240,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. MidAtlantic Capital Management Inc. purchased a new position in Trane Technologies during the 3rd quarter valued at about $27,000. Global Wealth Strategies & Associates purchased a new position in Trane Technologies during the 4th quarter valued at about $26,000. DT Investment Partners LLC purchased a new position in Trane Technologies during the 3rd quarter valued at about $36,000. Sound Income Strategies LLC boosted its holdings in Trane Technologies by 1,314.3% during the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after acquiring an additional 92 shares during the period. Finally, Pittenger & Anderson Inc. purchased a new position in Trane Technologies during the 3rd quarter valued at about $39,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TT. Northcoast Research began coverage on Trane Technologies in a report on Friday, November 22nd. They set a “buy” rating and a $500.00 target price for the company. Melius Research reiterated a “hold” rating and issued a $398.00 price objective on shares of Trane Technologies in a research note on Tuesday, January 28th. UBS Group decreased their price objective on Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Robert W. Baird decreased their price objective on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Finally, HSBC cut 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. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $415.25.

Trane Technologies Price Performance

TT stock opened at $363.58 on Friday. The stock has a market cap of $81.81 billion, a price-to-earnings ratio of 32.32, a PEG ratio of 2.44 and a beta of 1.05. Trane Technologies plc has a fifty-two week low of $270.50 and a fifty-two week high of $422.00. The business has a 50 day moving average price of $379.41 and a 200 day moving average price of $377.91. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT) last released its quarterly earnings results 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%. Equities research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The company also recently declared 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. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date is Friday, March 7th. This represents a $3.76 annualized dividend and a yield of 1.03%. Trane Technologies’s payout ratio is 29.87%.

Insiders Place Their Bets

In other news, CEO David S. Regnery sold 2,754 shares of the business’s stock in a transaction that occurred 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 owns 132,969 shares of the company’s stock, valued at approximately $47,515,142.46. The trade was a 2.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Christopher J. Kuehn sold 770 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were 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. The trade was a 1.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,563 shares of company stock valued at $4,388,966 over the last quarter. Company insiders own 0.38% of the company’s stock.

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.