Mather Group LLC. Trims Stake in Trane Technologies plc (NYSE:TT)

Mather Group LLC. reduced its position in shares of Trane Technologies plc (NYSE:TT) by 2.6% in the fourth quarter, Holdings Channel reports. The firm owned 2,205 shares of the company’s stock after selling 59 shares during the period. Mather Group LLC.’s holdings in Trane Technologies were worth $538,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in TT. Wellington Management Group LLP lifted its holdings in shares of Trane Technologies by 36.4% during the 3rd quarter. Wellington Management Group LLP now owns 1,639,058 shares of the company’s stock worth $332,581,000 after acquiring an additional 436,997 shares during the last quarter. Xponance Inc. lifted its holdings in shares of Trane Technologies by 18.6% during the 4th quarter. Xponance Inc. now owns 43,825 shares of the company’s stock worth $10,689,000 after acquiring an additional 6,869 shares during the last quarter. CHICAGO TRUST Co NA lifted its holdings in shares of Trane Technologies by 2.1% during the 4th quarter. CHICAGO TRUST Co NA now owns 3,136 shares of the company’s stock worth $765,000 after acquiring an additional 64 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Trane Technologies by 60.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 112,239 shares of the company’s stock worth $27,375,000 after acquiring an additional 42,409 shares during the last quarter. Finally, Wealth Effects LLC bought a new stake in shares of Trane Technologies during the 4th quarter worth $239,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TT has been the subject of several recent research reports. Stephens boosted their price target on shares of Trane Technologies from $310.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Mizuho boosted their price target on shares of Trane Technologies from $280.00 to $325.00 and gave the stock a “neutral” rating in a research note on Wednesday. TD Cowen boosted their price target on shares of Trane Technologies from $325.00 to $360.00 and gave the stock a “buy” rating in a research note on Wednesday. Royal Bank of Canada boosted their price target on shares of Trane Technologies from $231.00 to $246.00 and gave the stock a “sector perform” rating in a research note on Friday, February 2nd. Finally, The Goldman Sachs Group boosted their price target on shares of Trane Technologies from $287.00 to $326.00 and gave the stock a “neutral” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $288.38.

Trane Technologies Stock Performance

Shares of NYSE:TT opened at $315.08 on Thursday. Trane Technologies plc has a 12 month low of $162.04 and a 12 month high of $327.09. The company has a market cap of $71.39 billion, a price-to-earnings ratio of 33.66, a price-to-earnings-growth ratio of 2.61 and a beta of 1.01. The company has a 50-day moving average price of $294.39 and a 200-day moving average price of $256.74. The company has a current ratio of 1.13, a quick ratio of 0.78 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.30. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The company had revenue of $4.22 billion during the quarter, compared to the consensus estimate of $3.99 billion. During the same period in the prior year, the firm earned $1.41 earnings per share. Trane Technologies’s revenue was up 15.0% on a year-over-year basis. As a group, equities analysts anticipate that Trane Technologies plc will post 10.49 EPS for the current year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Thursday, June 6th. Trane Technologies’s dividend payout ratio is 35.90%.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, CFO Christopher J. Kuehn sold 2,767 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $268.31, for a total transaction of $742,413.77. Following the completion of the transaction, the chief financial officer now owns 54,788 shares of the company’s stock, valued at $14,700,168.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO David S. Regnery sold 6,990 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $286.19, for a total transaction of $2,000,468.10. Following the completion of the sale, the chief executive officer now owns 113,874 shares of the company’s stock, valued at $32,589,600.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Christopher J. Kuehn sold 2,767 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $268.31, for a total transaction of $742,413.77. Following the sale, the chief financial officer now directly owns 54,788 shares of the company’s stock, valued at approximately $14,700,168.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,237 shares of company stock valued at $8,024,534. Corporate insiders own 0.39% of the company’s stock.

About Trane Technologies

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.