Progressive Investment Management Corp Sells 135 Shares of Trane Technologies plc (NYSE:TT)

Progressive Investment Management Corp decreased its position in shares of Trane Technologies plc (NYSE:TT) by 1.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,051 shares of the company’s stock after selling 135 shares during the quarter. Trane Technologies comprises 1.3% of Progressive Investment Management Corp’s holdings, making the stock its 23rd largest holding. Progressive Investment Management Corp’s holdings in Trane Technologies were worth $5,190,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Global Wealth Strategies & Associates acquired a new position in Trane Technologies during the 4th quarter valued at about $26,000. Sound Income Strategies LLC grew its holdings in Trane Technologies by 1,314.3% during the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock worth $37,000 after buying an additional 92 shares in the last quarter. Flagship Wealth Advisors LLC purchased a new stake in Trane Technologies in the 4th quarter valued at $37,000. Golden State Wealth Management LLC purchased a new position in Trane Technologies during the 4th quarter worth $39,000. Finally, Legacy Investment Solutions LLC bought a new stake in shares of Trane Technologies in the 3rd quarter worth $44,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Stock Down 4.3 %

TT opened at $331.69 on Friday. The firm has a market capitalization of $74.40 billion, a P/E ratio of 29.48, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a one year low of $286.32 and a one year high of $422.00. The company has a fifty day moving average price of $357.83 and a 200-day moving average price of $379.73. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88.

Trane Technologies (NYSE:TT) last announced its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share 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 research 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. Shareholders of record on Friday, March 7th will be given a dividend of $0.94 per share. The ex-dividend date is Friday, March 7th. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 annualized dividend and a yield of 1.13%. Trane Technologies’s payout ratio is presently 33.42%.

Insiders Place Their Bets

In related news, CEO David S. Regnery sold 2,318 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $358.17, for a total value of $830,238.06. Following the completion of the sale, the chief executive officer now owns 126,831 shares in the company, valued at $45,427,059.27. The trade was a 1.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Christopher J. Kuehn sold 770 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $358.39, for a total transaction of $275,960.30. Following the transaction, the chief financial officer now owns 62,221 shares in the company, valued at $22,299,384.19. The trade was a 1.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,234 shares of company stock valued at $2,588,102 in the last quarter. Corporate insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

TT has been the topic of several analyst reports. Citigroup cut their price target on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Melius downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price on the stock. in a research note on Tuesday, January 28th. Royal Bank of Canada increased their price target on Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a research report on Friday, January 3rd. UBS Group reduced their price objective on Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Finally, Barclays lowered their target price on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $413.69.

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.