Sterling Capital Management LLC cut its stake in shares of Trane Technologies plc (NYSE:TT – Free Report) by 55.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,575 shares of the company’s stock after selling 6,830 shares during the period. Sterling Capital Management LLC’s holdings in Trane Technologies were worth $2,323,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. Tucker Asset Management LLC bought a new stake in shares of Trane Technologies during the 4th quarter worth approximately $25,000. Hilton Head Capital Partners LLC acquired a new position in Trane Technologies during the fourth quarter worth $32,000. JPL Wealth Management LLC bought a new stake in Trane Technologies during the third quarter worth $32,000. Kemnay Advisory Services Inc. acquired a new stake in Trane Technologies in the fourth quarter valued at $34,000. Finally, Creative Financial Designs Inc. ADV lifted its stake in Trane Technologies by 119.5% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 90 shares of the company’s stock valued at $35,000 after acquiring an additional 49 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several research analysts have recently weighed in on the stock. KeyCorp boosted their price objective on shares of Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a research note on Monday, April 20th. Evercore initiated coverage on Trane Technologies in a report on Monday, April 13th. They set an “outperform” rating and a $535.00 price target for the company. Royal Bank Of Canada boosted their price target on Trane Technologies from $440.00 to $501.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. Finally, BNP Paribas Exane started coverage on Trane Technologies in a research report on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Trane Technologies has an average rating of “Moderate Buy” and an average target price of $509.12.
Insider Buying and Selling
In related news, insider Donald E. Simmons sold 4,593 shares of the stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the sale, the insider owned 3,819 shares of the company’s stock, valued at $1,909,500. This represents a 54.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher J. Kuehn sold 8,619 shares of the firm’s stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total value of $3,878,550.00. Following the transaction, the chief financial officer owned 60,576 shares in the company, valued at approximately $27,259,200. This trade represents a 12.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.43% of the company’s stock.
Trane Technologies Stock Up 0.0%
TT stock opened at $478.08 on Monday. Trane Technologies plc has a fifty-two week low of $348.06 and a fifty-two week high of $505.87. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77. The stock has a market capitalization of $105.68 billion, a price-to-earnings ratio of 36.97, a PEG ratio of 2.20 and a beta of 1.20. The business’s fifty day moving average price is $469.89 and its two-hundred day moving average price is $438.28.
Trane Technologies (NYSE:TT – Get Free Report) last announced its earnings results on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.10. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The company had revenue of $4.97 billion during the quarter, compared to analysts’ expectations of $4.81 billion. During the same quarter in the previous year, the business posted $2.45 earnings per share. Trane Technologies’s quarterly revenue was up 6.0% on a year-over-year basis. On average, equities analysts anticipate that Trane Technologies plc will post 14.88 earnings per share for the current year.
Trane Technologies Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 4th will be issued a $1.05 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. Trane Technologies’s payout ratio is currently 32.48%.
Trane Technologies Company 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.
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