EHP Funds Inc. Reduces Holdings in Trane Technologies plc (NYSE:TT)

EHP Funds Inc. lowered its position in Trane Technologies plc (NYSE:TT) by 12.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,400 shares of the company’s stock after selling 200 shares during the quarter. Trane Technologies comprises 0.5% of EHP Funds Inc.’s investment portfolio, making the stock its 28th largest holding. EHP Funds Inc.’s holdings in Trane Technologies were worth $517,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TT. Secured Retirement Advisors LLC boosted its position in Trane Technologies by 0.6% during the fourth quarter. Secured Retirement Advisors LLC now owns 4,628 shares of the company’s stock worth $1,709,000 after purchasing an additional 28 shares during the period. Catalina Capital Group LLC lifted its stake in Trane Technologies by 3.2% in the 4th quarter. Catalina Capital Group LLC now owns 924 shares of the company’s stock worth $341,000 after purchasing an additional 29 shares in the last quarter. Stratos Wealth Partners LTD. grew its position in shares of Trane Technologies by 0.5% during the 4th quarter. Stratos Wealth Partners LTD. now owns 5,538 shares of the company’s stock valued at $2,046,000 after purchasing an additional 29 shares in the last quarter. Kanawha Capital Management LLC increased its holdings in shares of Trane Technologies by 0.6% in the fourth quarter. Kanawha Capital Management LLC now owns 4,712 shares of the company’s stock worth $1,740,000 after purchasing an additional 29 shares during the period. Finally, Kestra Private Wealth Services LLC raised its position in shares of Trane Technologies by 0.3% in the fourth quarter. Kestra Private Wealth Services LLC now owns 9,173 shares of the company’s stock worth $3,388,000 after buying an additional 30 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Stock Up 1.0 %

Shares of NYSE:TT opened at $406.94 on Wednesday. The company has a market cap of $90.76 billion, a PE ratio of 36.17, a P/E/G ratio of 2.50 and a beta of 1.14. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $422.00. The stock’s 50-day moving average is $346.56 and its 200 day moving average is $372.09. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.25. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. The company had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.46 billion. During the same quarter in the previous year, the company earned $1.94 earnings per share. Trane Technologies’s quarterly revenue was up 11.2% on a year-over-year basis. Sell-side analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders 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 dividend yield of 0.92%. The ex-dividend date of this dividend is Friday, June 6th. Trane Technologies’s payout ratio is presently 31.28%.

Analyst Ratings Changes

A number of equities analysts have weighed in on TT shares. Wells Fargo & Company upped their target price on Trane Technologies from $330.00 to $370.00 and gave the stock an “underweight” rating in a research note on Thursday, May 1st. Melius Research reissued a “hold” rating and issued a $398.00 price target on shares of Trane Technologies in a report on Tuesday, January 28th. Stephens upgraded shares of Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 target price for the company in a research report on Thursday, May 1st. Royal Bank of Canada lifted their price target on Trane Technologies from $363.00 to $408.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 1st. Finally, Hsbc Global Res upgraded Trane Technologies from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Trane Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $421.07.

Insider Activity at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 770 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $358.39, for a total value of $275,960.30. Following the sale, the chief financial officer now directly owns 62,221 shares of the company’s stock, valued at $22,299,384.19. The trade was a 1.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through 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 value of $113,882.16. Following the completion of the sale, the senior vice president now directly owns 20,513 shares in the company, valued at $7,346,115.56. This trade represents a 1.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,977 shares of company stock worth $2,577,061 over the last ninety days. 0.38% of the stock is owned by corporate insiders.

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.