Great Lakes Advisors LLC Reduces Holdings in Trane Technologies plc (NYSE:TT)

Great Lakes Advisors LLC decreased its position in Trane Technologies plc (NYSE:TT) by 12.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,523 shares of the company’s stock after selling 1,604 shares during the period. Great Lakes Advisors LLC’s holdings in Trane Technologies were worth $4,256,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Global Wealth Strategies & Associates acquired a new stake in shares of Trane Technologies in the 4th quarter valued at $26,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Trane Technologies in the 3rd quarter valued at $27,000. Sound Income Strategies LLC raised its holdings 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 valued at $37,000 after purchasing an additional 92 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of Trane Technologies in the 4th quarter valued at $39,000. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of Trane Technologies in the 3rd quarter valued at $44,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on TT shares. Northcoast Research started coverage on shares of Trane Technologies in a research note on Friday, November 22nd. They set a “buy” rating and a $500.00 price target on the stock. Melius Research reiterated a “hold” rating and set a $398.00 price target on shares of Trane Technologies in a research note on Tuesday, January 28th. Barclays cut their price target on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. UBS Group cut their price target on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $413.69.

Trane Technologies Stock Performance

Shares of TT opened at $348.48 on Friday. The firm has a 50-day moving average price of $364.65 and a 200 day moving average price of $379.80. The firm has a market capitalization of $78.16 billion, a PE ratio of 30.98, a P/E/G ratio of 2.50 and a beta of 1.08. 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 plc has a 52-week low of $286.32 and a 52-week high of $422.00.

Trane Technologies (NYSE:TT) last announced its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. On average, sell-side analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.08%. 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 dividend payout ratio (DPR) is presently 33.42%.

Insiders Place Their Bets

In other news, SVP Mairead Magner sold 198 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total value of $70,806.78. Following the transaction, the senior vice president now directly owns 13,401 shares of the company’s stock, valued at approximately $4,792,331.61. This represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO David S. Regnery sold 2,754 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total value of $984,114.36. Following the sale, the chief executive officer now directly owns 132,969 shares of the company’s stock, valued at $47,515,142.46. This trade represents a 2.03 % 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 worth $2,588,102 over the last ninety days. 0.38% of the stock is currently owned by company insiders.

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.