Trane Technologies plc $TT Stake Lessened by Sanctuary Advisors LLC

Sanctuary Advisors LLC cut its position in shares of Trane Technologies plc (NYSE:TT) by 5.0% during the 1st quarter, Holdings Channel reports. The firm owned 29,073 shares of the company’s stock after selling 1,530 shares during the period. Sanctuary Advisors LLC’s holdings in Trane Technologies were worth $12,116,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in TT. Brighton Jones LLC increased its holdings in shares of Trane Technologies by 60.0% in the fourth quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock valued at $2,288,000 after buying an additional 2,323 shares in the last quarter. Sivia Capital Partners LLC boosted its stake in shares of Trane Technologies by 22.4% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,665 shares of the company’s stock worth $728,000 after acquiring an additional 305 shares in the last quarter. Schnieders Capital Management LLC. acquired a new position in shares of Trane Technologies in the 2nd quarter worth $227,000. Nebula Research & Development LLC grew its holdings in shares of Trane Technologies by 178.0% in the 2nd quarter. Nebula Research & Development LLC now owns 2,371 shares of the company’s stock worth $1,037,000 after acquiring an additional 1,518 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its position in shares of Trane Technologies by 0.5% during the second quarter. Treasurer of the State of North Carolina now owns 104,140 shares of the company’s stock worth $45,552,000 after purchasing an additional 497 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Trane Technologies in a research note on Monday, April 20th. BNP Paribas Exane assumed coverage on shares of Trane Technologies in a research report on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 price target for the company. Evercore began coverage on shares of Trane Technologies in a research note on Monday, April 13th. They issued an “outperform” rating and a $535.00 price objective for the company. Sanford C. Bernstein set a $555.00 price objective on shares of Trane Technologies in a research report on Thursday, July 9th. Finally, Royal Bank Of Canada boosted their target price on shares of Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a research note on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $516.67.

Insider Buying and Selling

In other Trane Technologies news, insider Donald E. Simmons sold 4,593 shares of the company’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $500.00, for a total value of $2,296,500.00. Following the transaction, the insider directly owned 3,819 shares of the company’s stock, valued at $1,909,500. This represents a 54.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is owned by company insiders.

Trane Technologies Stock Performance

Shares of TT opened at $475.00 on Friday. The company has a market capitalization of $105.00 billion, a PE ratio of 36.74, a PEG ratio of 2.21 and a beta of 1.19. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10. The company’s 50 day moving average price is $469.82 and its 200 day moving average price is $446.82. Trane Technologies plc has a 52 week low of $348.06 and a 52 week high of $505.87.

Trane Technologies (NYSE:TT) last released its earnings results on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.10. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The company had revenue of $4.97 billion during the quarter, compared to the consensus estimate of $4.81 billion. During the same quarter in the prior year, the firm earned $2.45 EPS. The company’s revenue was up 6.0% compared to the same quarter last year. Research analysts expect that Trane Technologies plc will post 14.89 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be given a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. Trane Technologies’s dividend payout ratio (DPR) is presently 32.48%.

Trane Technologies Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.