BLB&B Advisors LLC Sells 88 Shares of Trane Technologies plc (NYSE:TT)

BLB&B Advisors LLC decreased its holdings in Trane Technologies plc (NYSE:TT) by 2.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 4,094 shares of the company’s stock after selling 88 shares during the period. BLB&B Advisors LLC’s holdings in Trane Technologies were worth $1,512,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TT. Global Wealth Strategies & Associates bought a new stake in Trane Technologies in the fourth quarter valued at about $26,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Trane Technologies in the 3rd quarter valued at approximately $27,000. DT Investment Partners LLC acquired a new position in shares of Trane Technologies in the 3rd quarter worth approximately $36,000. Sound Income Strategies LLC lifted its position in shares of Trane Technologies by 1,314.3% during the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock worth $37,000 after buying an additional 92 shares during the period. Finally, Pittenger & Anderson Inc. acquired a new stake in Trane Technologies in the 3rd quarter valued at $39,000. 82.97% of the stock is owned by institutional investors.

Trane Technologies Stock Performance

Shares of NYSE:TT opened at $356.07 on Friday. 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 plc has a 1-year low of $265.37 and a 1-year high of $422.00. The stock has a market capitalization of $80.12 billion, a P/E ratio of 31.65, a P/E/G ratio of 2.18 and a beta of 1.05. The business has a 50-day moving average price of $384.85 and a two-hundred day moving average price of $376.96.

Trane Technologies (NYSE:TT) last posted its quarterly 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 net margin of 12.94% and a return on equity of 35.37%. Equities analysts predict that Trane Technologies plc will post 12.79 earnings per share for the current year.

Trane Technologies Increases Dividend

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

Analysts Set New Price Targets

A number of research analysts have issued reports on TT shares. Melius Research reissued a “hold” rating and set a $398.00 price objective on shares of Trane Technologies in a report on Tuesday, January 28th. JPMorgan Chase & Co. lifted their price target on shares of Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Citigroup decreased their price objective on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Barclays lifted their target price on shares of Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Finally, Wells Fargo & Company dropped their price target on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a report on Friday, January 31st. 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 stock. Based on data from MarketBeat.com, Trane Technologies currently has an average rating of “Hold” and a consensus price target of $415.25.

Insider Activity at Trane Technologies

In other news, 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 value of $1,800,864.00. Following the completion of the sale, the senior vice president now directly owns 12,893 shares of the company’s stock, valued at $5,363,488. This represents a 25.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Christopher J. Kuehn sold 876 shares of Trane Technologies stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total transaction of $313,099.92. Following the transaction, the chief financial officer now directly owns 63,841 shares in the company, valued at $22,818,050.22. The trade was a 1.35 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,157 shares of company stock worth $3,168,885. 0.38% of the stock is owned by 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.