Clark Capital Management Group Inc. Acquires 345 Shares of Trane Technologies plc (NYSE:TT)

Clark Capital Management Group Inc. lifted its stake in Trane Technologies plc (NYSE:TT) by 15.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,523 shares of the company’s stock after purchasing an additional 345 shares during the period. Clark Capital Management Group Inc.’s holdings in Trane Technologies were worth $932,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Sound Income Strategies LLC boosted its holdings in 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 buying an additional 92 shares during the last quarter. Flagship Wealth Advisors LLC acquired a new stake in shares of Trane Technologies in the 4th quarter valued at approximately $37,000. Golden State Wealth Management LLC acquired a new stake in shares of Trane Technologies in the 4th quarter valued at approximately $39,000. BankPlus Trust Department bought a new position in Trane Technologies during the 4th quarter worth approximately $45,000. Finally, Centricity Wealth Management LLC acquired a new position in Trane Technologies during the fourth quarter valued at approximately $55,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Trading Down 0.3 %

Shares of NYSE:TT opened at $404.32 on Friday. The stock has a market capitalization of $90.17 billion, a PE ratio of 35.94, a price-to-earnings-growth ratio of 2.50 and a beta of 1.14. The company’s 50-day moving average price is $350.05 and its two-hundred day moving average price is $372.45. 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 plc has a one year low of $298.15 and a one year high of $422.00.

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

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be issued a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a yield of 0.93%. Trane Technologies’s payout ratio is 31.28%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on TT shares. UBS Group reduced 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 report on Friday, January 31st. Royal Bank of Canada lifted their target price on Trane Technologies from $363.00 to $408.00 and gave the stock a “sector perform” rating in a report on Thursday, May 1st. JPMorgan Chase & Co. increased their price target on Trane Technologies from $323.00 to $334.00 and gave the stock a “neutral” rating in a report on Thursday, May 1st. Robert W. Baird boosted their price objective on Trane Technologies from $360.00 to $396.00 and gave the company a “neutral” rating in a research report on Thursday, May 1st. Finally, Stephens raised Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 target price for the company in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $421.07.

Insiders Place Their Bets

In other Trane Technologies news, SVP Evan M. Turtz sold 318 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now owns 20,513 shares in the company, valued at $7,346,115.56. This represents a 1.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David S. Regnery sold 2,318 shares of Trane Technologies stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $358.17, for a total value of $830,238.06. Following the transaction, the chief executive officer now owns 126,831 shares of the company’s stock, valued at $45,427,059.27. This represents a 1.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,977 shares of company stock valued at $2,577,061. 0.38% of the stock is currently 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.