Keel Point LLC Sells 49 Shares of Trane Technologies plc (NYSE:TT)

Keel Point LLC lowered its position in Trane Technologies plc (NYSE:TT) by 2.5% during the 4th quarter, Holdings Channel reports. The firm owned 1,945 shares of the company’s stock after selling 49 shares during the quarter. Keel Point LLC’s holdings in Trane Technologies were worth $718,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new position in shares of Trane Technologies during the 3rd quarter worth $3,916,000. Tidal Investments LLC grew its holdings in Trane Technologies by 22.2% during the 3rd quarter. Tidal Investments LLC now owns 15,827 shares of the company’s stock worth $6,152,000 after acquiring an additional 2,874 shares in the last quarter. Synovus Financial Corp increased its position in Trane Technologies by 16.8% during the 3rd quarter. Synovus Financial Corp now owns 8,828 shares of the company’s stock valued at $3,431,000 after purchasing an additional 1,271 shares during the period. American Trust bought a new stake in shares of Trane Technologies in the 3rd quarter valued at about $264,000. Finally, Oddo BHF Asset Management Sas purchased a new stake in shares of Trane Technologies in the 3rd quarter worth approximately $634,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Trane Technologies news, CFO Christopher J. Kuehn sold 876 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total value of $313,099.92. Following the transaction, the chief financial officer now owns 63,841 shares in the company, valued at approximately $22,818,050.22. This trade represents a 1.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Mairead Magner sold 198 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total transaction of $70,806.78. Following the sale, the senior vice president now directly owns 13,401 shares of the company’s stock, valued at $4,792,331.61. The trade was a 1.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,805 shares of company stock worth $3,945,082 over the last 90 days. 0.38% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on TT. UBS Group cut their price objective on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Stephens raised Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 price target for the company in a research report on Thursday. Wells Fargo & Company raised their price objective on Trane Technologies from $330.00 to $370.00 and gave the company an “underweight” rating in a research report on Thursday. HSBC upgraded shares of Trane Technologies from a “hold” rating to a “buy” rating and boosted their target price for the stock from $405.00 to $415.00 in a report on Friday, April 25th. Finally, Robert W. Baird raised their target price on shares of Trane Technologies from $360.00 to $396.00 and gave the company a “neutral” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $421.07.

Trane Technologies Trading Up 2.5 %

TT stock opened at $393.03 on Friday. 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 $298.15 and a 52-week high of $422.00. The company’s 50-day simple moving average is $343.25 and its 200-day simple moving average is $372.19. The firm has a market cap of $88.15 billion, a P/E ratio of 34.94, a PEG ratio of 2.50 and a beta of 1.08.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.20 by $0.25. The company had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.46 billion. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. Trane Technologies’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period last year, the company earned $1.94 earnings per share. As a group, equities analysts forecast that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 0.96%. The ex-dividend date is Friday, June 6th. Trane Technologies’s payout ratio is 33.42%.

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.