Clifford Swan Investment Counsel LLC Cuts Position in Trane Technologies plc (NYSE:TT)

Clifford Swan Investment Counsel LLC trimmed its position in Trane Technologies plc (NYSE:TT) by 3.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 11,358 shares of the company’s stock after selling 430 shares during the quarter. Clifford Swan Investment Counsel LLC’s holdings in Trane Technologies were worth $4,195,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Smartleaf Asset Management LLC raised its holdings in shares of Trane Technologies by 61.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,637 shares of the company’s stock worth $607,000 after purchasing an additional 625 shares during the period. Cape Investment Advisory Inc. purchased a new position in Trane Technologies in the fourth quarter valued at about $106,000. Jacobi Capital Management LLC raised its position in Trane Technologies by 9.7% in the fourth quarter. Jacobi Capital Management LLC now owns 3,055 shares of the company’s stock valued at $1,129,000 after purchasing an additional 271 shares during the period. Bank OZK raised its position in Trane Technologies by 7.5% in the fourth quarter. Bank OZK now owns 6,888 shares of the company’s stock valued at $2,544,000 after purchasing an additional 478 shares during the period. Finally, SVB Wealth LLC purchased a new position in Trane Technologies in the fourth quarter valued at about $1,362,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on TT. Royal Bank of Canada raised their price objective on Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a research report on Friday, January 3rd. Northcoast Research began coverage on Trane Technologies in a research report on Friday, November 22nd. They issued a “buy” rating and a $500.00 price objective on the stock. JPMorgan Chase & Co. lifted their price target on shares of Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Barclays lifted their price target on shares of Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Finally, Melius downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price target on the stock. in a research note on Tuesday, January 28th. One 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, the stock currently has a consensus rating of “Hold” and an average target price of $415.25.

Trane Technologies Price Performance

Shares of NYSE TT opened at $354.22 on Friday. Trane Technologies plc has a twelve month low of $279.00 and a twelve month high of $422.00. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $79.45 billion, a price-to-earnings ratio of 31.49, a price-to-earnings-growth ratio of 2.50 and a beta of 1.05. The business has a 50 day simple moving average of $371.26 and a 200-day simple moving average of $380.45.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, beating 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%. As a group, equities research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.06%. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date is Friday, March 7th. Trane Technologies’s payout ratio is 29.87%.

Insider Activity

In other news, CFO Christopher J. Kuehn sold 876 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.42, for a total transaction of $313,099.92. Following the completion of the transaction, the chief financial officer now owns 63,841 shares of the company’s stock, valued at approximately $22,818,050.22. The trade was a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Mairead Magner sold 4,329 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the transaction, the senior vice president now owns 12,893 shares of the company’s stock, valued at $5,363,488. This represents a 25.14 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,563 shares of company stock worth $4,388,966. 0.38% of the stock is currently owned by insiders.

Trane Technologies Company 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.