Trane Technologies plc (NYSE:TT) Stake Lowered by Blue Chip Partners LLC

Blue Chip Partners LLC decreased its stake in Trane Technologies plc (NYSE:TT) by 9.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 593 shares of the company’s stock after selling 59 shares during the period. Blue Chip Partners LLC’s holdings in Trane Technologies were worth $219,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TT. Tidal Investments LLC lifted its stake in Trane Technologies by 22.2% in the third quarter. Tidal Investments LLC now owns 15,827 shares of the company’s stock valued at $6,152,000 after buying an additional 2,874 shares during the last quarter. Synovus Financial Corp lifted its position in Trane Technologies by 16.8% in the 3rd quarter. Synovus Financial Corp now owns 8,828 shares of the company’s stock valued at $3,431,000 after purchasing an additional 1,271 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in Trane Technologies during the 4th quarter valued at about $468,000. HB Wealth Management LLC grew its position in Trane Technologies by 14.3% in the 4th quarter. HB Wealth Management LLC now owns 5,689 shares of the company’s stock worth $2,101,000 after purchasing an additional 711 shares during the last quarter. Finally, GDS Wealth Management increased its stake in shares of Trane Technologies by 4.3% in the third quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock valued at $20,123,000 after purchasing an additional 2,124 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Stock Performance

Shares of NYSE TT opened at $363.58 on Monday. The stock’s fifty day simple moving average is $378.44 and its 200 day simple moving average is $378.78. The stock has a market capitalization of $81.81 billion, a price-to-earnings ratio of 32.32, a PEG ratio of 2.44 and a beta of 1.05. 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 plc has a 52-week low of $270.50 and a 52-week high of $422.00.

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, 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%. As a group, sell-side analysts forecast 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. Stockholders of record on Friday, March 7th will be issued a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.03%. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s payout ratio is currently 29.87%.

Insider Activity at Trane Technologies

In related news, 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 transaction of $313,099.92. Following the transaction, the chief financial officer now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 shares were sold at an average price of $416.00, for a total value of $1,800,864.00. Following the completion of the transaction, the senior vice president now owns 12,893 shares in the company, 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 90 days, insiders sold 11,563 shares of company stock worth $4,388,966. 0.38% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TT. Royal Bank of Canada boosted their price objective on Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research report on Friday, January 3rd. Hsbc Global Res cut Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. HSBC lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price target on the stock. in a report on Thursday, October 31st. Barclays increased their target price on shares of Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a research report 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 report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Trane Technologies has a consensus rating of “Hold” and an average target price of $415.25.

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.