Trane Technologies plc $TT Shares Sold by KCM Investment Advisors LLC

KCM Investment Advisors LLC lowered its position in Trane Technologies plc (NYSE:TT) by 1.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 96,700 shares of the company’s stock after selling 1,133 shares during the quarter. Trane Technologies accounts for 1.2% of KCM Investment Advisors LLC’s holdings, making the stock its 24th largest holding. KCM Investment Advisors LLC’s holdings in Trane Technologies were worth $37,636,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TT. Tucker Asset Management LLC acquired a new position in Trane Technologies in the fourth quarter valued at $25,000. Hilton Head Capital Partners LLC acquired a new position in shares of Trane Technologies during the fourth quarter worth about $32,000. JPL Wealth Management LLC acquired a new position in shares of Trane Technologies during the third quarter worth about $32,000. Creative Financial Designs Inc. ADV lifted its stake in shares of Trane Technologies by 119.5% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 90 shares of the company’s stock worth $35,000 after purchasing an additional 49 shares in the last quarter. Finally, KERR FINANCIAL PLANNING Corp acquired a new position in shares of Trane Technologies during the third quarter worth about $42,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Stock Down 0.5%

Shares of Trane Technologies stock opened at $457.69 on Friday. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.46. The firm has a market cap of $101.17 billion, a P/E ratio of 35.40, a P/E/G ratio of 2.11 and a beta of 1.20. Trane Technologies plc has a fifty-two week low of $348.06 and a fifty-two week high of $503.47. The business has a 50-day moving average price of $463.44 and a 200 day moving average price of $433.14.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.10. The firm had revenue of $4.97 billion during the quarter, compared to analyst estimates of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.Trane Technologies’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.45 earnings per share. On average, sell-side analysts forecast that Trane Technologies plc will post 14.88 earnings per share 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 issued a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, September 4th. Trane Technologies’s payout ratio is currently 32.48%.

Insider Activity

In related news, insider Donald E. Simmons sold 4,593 shares of the business’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 completion of the sale, the insider directly owned 3,819 shares of the company’s stock, valued at $1,909,500. The trade was a 54.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher J. Kuehn sold 8,619 shares of Trane Technologies stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $450.00, for a total value of $3,878,550.00. Following the completion of the transaction, the chief financial officer owned 60,576 shares of the company’s stock, valued at approximately $27,259,200. The trade was a 12.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TT. KeyCorp boosted their price objective on Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Barclays boosted their price objective on Trane Technologies from $507.00 to $585.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a research note on Monday, April 20th. Sanford C. Bernstein assumed coverage on Trane Technologies in a research report on Tuesday. They set an “outperform” rating and a $550.00 target price on the stock. Finally, Evercore assumed coverage on Trane Technologies in a research report on Monday, April 13th. They set an “outperform” rating and a $535.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $509.12.

Trane Technologies Company 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.