Federated Hermes Inc. Decreases Stock Holdings in Trane Technologies plc (NYSE:TT)

Federated Hermes Inc. lessened its stake in Trane Technologies plc (NYSE:TT) by 5.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 809,935 shares of the company’s stock after selling 49,703 shares during the quarter. Trane Technologies accounts for 0.7% of Federated Hermes Inc.’s investment portfolio, making the stock its 26th biggest holding. Federated Hermes Inc.’s holdings in Trane Technologies were worth $299,155,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. IHT Wealth Management LLC increased its position in shares of Trane Technologies by 55.3% during the third quarter. IHT Wealth Management LLC now owns 1,249 shares of the company’s stock worth $485,000 after purchasing an additional 445 shares in the last quarter. Quantinno Capital Management LP increased its position in Trane Technologies by 40.6% during the 3rd quarter. Quantinno Capital Management LP now owns 10,991 shares of the company’s stock valued at $4,273,000 after buying an additional 3,174 shares in the last quarter. Wellington Management Group LLP raised its stake in Trane Technologies by 4.3% in the third quarter. Wellington Management Group LLP now owns 728,428 shares of the company’s stock valued at $283,162,000 after buying an additional 30,038 shares during the last quarter. Voya Financial Advisors Inc. purchased a new stake in Trane Technologies in the third quarter valued at about $289,000. Finally, Kovitz Investment Group Partners LLC acquired a new stake in Trane Technologies in the third quarter worth about $1,438,000. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Price Performance

Shares of NYSE TT opened at $318.18 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. The stock has a market capitalization of $71.36 billion, a price-to-earnings ratio of 28.28, a PEG ratio of 2.50 and a beta of 1.08. The firm’s 50 day simple moving average is $351.63 and its 200-day simple moving average is $378.95. Trane Technologies plc has a 12 month low of $286.32 and a 12 month high of $422.00.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Thursday, January 30th. The company reported $2.61 EPS for the quarter, beating the consensus estimate of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. Analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be issued a $0.94 dividend. The ex-dividend date is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a yield of 1.18%. Trane Technologies’s payout ratio is 33.42%.

Insiders Place Their Bets

In other news, CEO David S. Regnery sold 2,754 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total transaction of $984,114.36. Following the transaction, the chief executive officer now owns 132,969 shares in the company, valued at $47,515,142.46. This trade represents a 2.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Evan M. Turtz sold 318 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $358.12, for a total transaction of $113,882.16. Following the completion of the sale, the senior vice president now directly owns 20,513 shares of the company’s stock, valued at approximately $7,346,115.56. The trade was a 1.53 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,234 shares of company stock worth $2,588,102. 0.38% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TT. Citigroup cut their price objective 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 Research restated a “hold” rating and set a $398.00 price target on shares of Trane Technologies in a research note on Tuesday, January 28th. Barclays lowered their price objective on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. Wells Fargo & Company cut their target price on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a research report on Friday, January 31st. Finally, Melius lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price for the company. in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Trane Technologies has an average rating of “Hold” and a consensus price target of $413.69.

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.