Kornitzer Capital Management Inc. KS Sells 800 Shares of Trane Technologies plc (NYSE:TT)

Kornitzer Capital Management Inc. KS lessened its stake in Trane Technologies plc (NYSE:TT) by 20.4% in the fourth quarter, HoldingsChannel reports. The firm owned 3,125 shares of the company’s stock after selling 800 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Trane Technologies were worth $1,154,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in TT. Global Wealth Strategies & Associates bought a new stake in Trane Technologies in the 4th quarter worth approximately $26,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Trane Technologies during the 3rd quarter worth $27,000. DT Investment Partners LLC purchased a new position in shares of Trane Technologies during the 3rd quarter worth $36,000. Sound Income Strategies LLC boosted its stake 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 acquiring an additional 92 shares during the last quarter. Finally, Pittenger & Anderson Inc. purchased a new position in shares of Trane Technologies during the 3rd quarter worth $39,000. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Up 2.0 %

TT opened at $370.04 on Thursday. The firm has a 50-day simple moving average of $376.38 and a two-hundred day simple moving average of $379.24. Trane Technologies plc has a 52 week low of $270.50 and a 52 week high of $422.00. The company has a market capitalization of $83.00 billion, a PE ratio of 32.89, a price-to-earnings-growth ratio of 2.48 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 (NYSE:TT) last released its quarterly earnings data on Thursday, January 30th. The company reported $2.61 EPS for the quarter, beating the consensus estimate of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. Analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.02%. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies’s dividend payout ratio is currently 29.87%.

Insider Activity

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

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. HSBC cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price target on the stock. in a research note on Thursday, October 31st. Royal Bank of Canada lifted their price target on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research note on Friday, January 3rd. JPMorgan Chase & Co. lifted their target price on shares of Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Hsbc Global Res cut shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, UBS Group lowered their target price on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $415.25.

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.