Trane Technologies plc (NYSE:TT) Shares Sold by Spinnaker Trust

Spinnaker Trust lessened its holdings in shares of Trane Technologies plc (NYSE:TT) by 1.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,361 shares of the company’s stock after selling 39 shares during the quarter. Spinnaker Trust’s holdings in Trane Technologies were worth $872,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Global Wealth Strategies & Associates acquired a new position in shares of Trane Technologies in the 4th quarter worth approximately $26,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Trane Technologies in the 3rd quarter worth approximately $27,000. DT Investment Partners LLC acquired a new position in shares of Trane Technologies in the 3rd quarter worth approximately $36,000. Sound Income Strategies LLC grew its position in shares of Trane Technologies by 1,314.3% in 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 in the last quarter. Finally, Pittenger & Anderson Inc. acquired a new position in shares of Trane Technologies in the 3rd quarter worth approximately $39,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Buying and Selling

In related news, CEO David S. Regnery sold 2,754 shares of Trane Technologies stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total value of $984,114.36. Following the transaction, the chief executive officer now directly owns 132,969 shares in the company, valued at $47,515,142.46. The trade was a 2.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Mairead Magner sold 198 shares of Trane Technologies stock in a transaction on 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 transaction, the senior vice president now 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 disclosure for this sale can be found here. Insiders have sold 11,563 shares of company stock worth $4,388,966 in the last three months. 0.38% of the stock is currently owned by insiders.

Trane Technologies Stock Up 0.6 %

Shares of TT stock opened at $363.58 on Friday. Trane Technologies plc has a 1 year low of $270.50 and a 1 year high of $422.00. The stock has a market cap of $81.81 billion, a PE ratio of 32.32, a price-to-earnings-growth ratio of 2.44 and a beta of 1.05. The business’s fifty day moving average is $379.41 and its 200-day moving average is $377.91. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21.

Trane Technologies (NYSE:TT) last issued its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) 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%. Equities analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.03%. 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 payout ratio is presently 29.87%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Royal Bank of Canada lifted their target price 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. JPMorgan Chase & Co. raised their price target on Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. HSBC downgraded 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. UBS Group cut their price target on Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Finally, Melius Research reissued a “hold” rating and issued a $398.00 price target on shares of Trane Technologies in a report on Tuesday, January 28th. One 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 MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $415.25.

Trane Technologies Company 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.