Yousif Capital Management LLC Decreases Stock Holdings in Trane Technologies plc $TT

Yousif Capital Management LLC trimmed its position in shares of Trane Technologies plc (NYSE:TT) by 8.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 24,516 shares of the company’s stock after selling 2,358 shares during the quarter. Yousif Capital Management LLC’s holdings in Trane Technologies were worth $9,496,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Financial Consulate Inc. purchased a new stake in shares of Trane Technologies during the third quarter valued at about $25,000. United Community Bank increased its holdings in shares of Trane Technologies by 134.4% during the third quarter. United Community Bank now owns 75 shares of the company’s stock valued at $32,000 after acquiring an additional 43 shares in the last quarter. JPL Wealth Management LLC acquired a new position in shares of Trane Technologies during the third quarter valued at about $32,000. Halbert Hargrove Global Advisors LLC increased its holdings in shares of Trane Technologies by 34.2% during the third quarter. Halbert Hargrove Global Advisors LLC now owns 102 shares of the company’s stock valued at $43,000 after acquiring an additional 26 shares in the last quarter. Finally, KERR FINANCIAL PLANNING Corp acquired a new position in shares of Trane Technologies during the third quarter valued at about $42,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on TT. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a report on Wednesday, January 21st. Wells Fargo & Company upped their price objective on shares of Trane Technologies from $375.00 to $400.00 and gave the company an “underweight” rating in a report on Friday, January 30th. Morgan Stanley cut their price objective on shares of Trane Technologies from $550.00 to $535.00 and set an “overweight” rating on the stock in a report on Tuesday, January 13th. UBS Group cut their price objective on shares of Trane Technologies from $544.00 to $520.00 and set a “buy” rating on the stock in a report on Monday, January 5th. Finally, Barclays upped their price objective on shares of Trane Technologies from $505.00 to $507.00 and gave the company an “overweight” rating in a report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Trane Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $484.67.

Insider Buying and Selling at Trane Technologies

In related news, CEO David S. Regnery sold 36,045 shares of the stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $422.69, for a total value of $15,235,861.05. Following the transaction, the chief executive officer owned 96,948 shares in the company, valued at approximately $40,978,950.12. This represents a 27.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Christopher J. Kuehn sold 2,389 shares of the stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $462.70, for a total transaction of $1,105,390.30. Following the completion of the transaction, the chief financial officer owned 60,486 shares in the company, valued at approximately $27,986,872.20. This trade represents a 3.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 49,378 shares of company stock worth $21,228,464 in the last 90 days. Corporate insiders own 0.14% of the company’s stock.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $449.76 on Thursday. Trane Technologies plc has a twelve month low of $310.80 and a twelve month high of $479.37. The company’s 50 day moving average is $439.37 and its 200 day moving average is $418.83. The company has a current ratio of 1.25, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The company has a market cap of $99.55 billion, a PE ratio of 34.65, a price-to-earnings-growth ratio of 2.25 and a beta of 1.21.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.05. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The company had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $5.09 billion. During the same quarter in the prior year, the company earned $2.61 EPS. Trane Technologies’s quarterly revenue was up 5.6% on a year-over-year basis. On average, sell-side analysts forecast that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be issued a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, June 5th. Trane Technologies’s dividend payout ratio is 32.36%.

Trane Technologies Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.