Harvest Fund Management Co. Ltd Cuts Stake in Trane Technologies plc (NYSE:TT)

Harvest Fund Management Co. Ltd reduced its stake in shares of Trane Technologies plc (NYSE:TT) by 7.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,879 shares of the company’s stock after selling 315 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Trane Technologies were worth $1,433,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Cobblestone Capital Advisors LLC NY grew its holdings in Trane Technologies by 1.8% during the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 1,490 shares of the company’s stock valued at $579,000 after buying an additional 27 shares in the last quarter. Wescott Financial Advisory Group LLC grew its holdings in Trane Technologies by 1.7% during the 3rd quarter. Wescott Financial Advisory Group LLC now owns 1,723 shares of the company’s stock valued at $670,000 after buying an additional 28 shares in the last quarter. Secured Retirement Advisors LLC grew its holdings in Trane Technologies by 0.6% during the 4th quarter. Secured Retirement Advisors LLC now owns 4,628 shares of the company’s stock valued at $1,709,000 after buying an additional 28 shares in the last quarter. First Citizens Financial Corp grew its holdings in Trane Technologies by 4.6% during the 4th quarter. First Citizens Financial Corp now owns 656 shares of the company’s stock valued at $242,000 after buying an additional 29 shares in the last quarter. Finally, Catalina Capital Group LLC grew its holdings in Trane Technologies by 3.2% during the 4th quarter. Catalina Capital Group LLC now owns 924 shares of the company’s stock valued at $341,000 after buying an additional 29 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Stock Up 1.8 %

Shares of TT opened at $350.28 on Thursday. The company has a market cap of $78.56 billion, a PE ratio of 31.14, a P/E/G ratio of 2.50 and a beta of 1.08. The business has a fifty day moving average of $362.58 and a 200 day moving average of $379.83. Trane Technologies plc has a 52-week low of $286.32 and a 52-week high of $422.00. 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 earnings results on Thursday, January 30th. The company reported $2.61 earnings per share 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%. On average, sell-side analysts expect that Trane Technologies plc will post 12.83 EPS for the current 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 1.07%. 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 dividend payout ratio (DPR) is 33.42%.

Analyst Ratings Changes

TT has been the subject of a number of recent research reports. Wells Fargo & Company cut their target price on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a report on Friday, January 31st. Melius Research reissued a “hold” rating and issued a $398.00 target price on shares of Trane Technologies in a report on Tuesday, January 28th. Northcoast Research initiated coverage on shares of Trane Technologies in a report on Friday, November 22nd. They issued a “buy” rating and a $500.00 target price for the company. UBS Group cut their target price on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a report on Friday, January 31st. Finally, Royal Bank of Canada raised their target price on shares of Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a report on Friday, January 3rd. 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. Based on data from MarketBeat.com, Trane Technologies has a consensus rating of “Hold” and a consensus price target of $413.69.

Insider Transactions at Trane Technologies

In related news, SVP Mairead Magner sold 198 shares of Trane Technologies stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total value of $70,806.78. Following the completion of the sale, the senior vice president now directly owns 13,401 shares in the company, valued at $4,792,331.61. The trade was a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Evan M. Turtz sold 318 shares of Trane Technologies stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $358.12, for a total value of $113,882.16. Following the completion of the sale, the senior vice president now owns 20,513 shares of the company’s stock, valued at $7,346,115.56. The trade was a 1.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,234 shares of company stock worth $2,588,102. 0.38% of the stock is currently 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.