Cerity Partners LLC Decreases Stock Holdings in Trane Technologies plc (NYSE:TT)

Cerity Partners LLC lowered its position in Trane Technologies plc (NYSE:TT) by 18.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 71,384 shares of the company’s stock after selling 15,709 shares during the period. Cerity Partners LLC’s holdings in Trane Technologies were worth $27,221,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of TT. 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 stake in shares of 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 acquiring an additional 92 shares during the last quarter. Flagship Wealth Advisors LLC acquired a new position in shares of Trane Technologies during the fourth quarter valued at about $37,000. Golden State Wealth Management LLC purchased a new position in shares of Trane Technologies in the 4th quarter valued at approximately $39,000. Finally, BankPlus Trust Department acquired a new stake in Trane Technologies in the 4th quarter worth approximately $45,000. Institutional investors own 82.97% of the company’s stock.

Insiders Place Their Bets

In other Trane Technologies news, CFO Christopher J. Kuehn sold 876 shares of Trane Technologies stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.42, for a total transaction of $313,099.92. Following the sale, the chief financial officer now owns 63,841 shares of the company’s stock, valued at $22,818,050.22. The trade was a 1.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David S. Regnery sold 2,754 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total transaction of $984,114.36. Following the completion of the sale, the chief executive officer now 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. In the last three months, insiders sold 7,234 shares of company stock worth $2,588,102. Corporate insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

TT has been the topic of a number of recent analyst reports. 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. Melius Research reissued a “hold” rating and issued a $398.00 target price on shares of Trane Technologies in a research report on Tuesday, January 28th. Royal Bank of Canada increased their price objective on Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a report on Friday, January 3rd. JPMorgan Chase & Co. decreased their target price on Trane Technologies from $396.00 to $323.00 and set a “neutral” rating for the company in a report on Tuesday. Finally, Wells Fargo & Company cut their price target on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. One 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 company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $409.13.

Trane Technologies Stock Down 0.4 %

Trane Technologies stock opened at $314.77 on Wednesday. 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 $70.60 billion, a PE ratio of 27.98, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. The business has a 50 day simple moving average of $348.59 and a 200-day simple moving average of $377.60. Trane Technologies plc has a 12 month low of $286.32 and a 12 month high of $422.00.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Thursday, January 30th. The company reported $2.61 EPS for the quarter, topping 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%. On average, analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date is Friday, June 6th. Trane Technologies’s dividend payout ratio is presently 33.42%.

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.