Sterling Capital Management LLC Sells 6,830 Shares of Trane Technologies plc $TT

Sterling Capital Management LLC trimmed its position in Trane Technologies plc (NYSE:TT) by 55.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,575 shares of the company’s stock after selling 6,830 shares during the period. Sterling Capital Management LLC’s holdings in Trane Technologies were worth $2,323,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Bell Investment Advisors Inc increased its stake in Trane Technologies by 12.2% in the first quarter. Bell Investment Advisors Inc now owns 203 shares of the company’s stock valued at $85,000 after purchasing an additional 22 shares in the last quarter. Fiduciary Family Office LLC grew its holdings in shares of Trane Technologies by 1.5% in the 4th quarter. Fiduciary Family Office LLC now owns 1,573 shares of the company’s stock valued at $612,000 after buying an additional 23 shares during the period. Foster Dykema Cabot & Partners LLC grew its holdings in shares of Trane Technologies by 10.6% in the 4th quarter. Foster Dykema Cabot & Partners LLC now owns 239 shares of the company’s stock valued at $93,000 after buying an additional 23 shares during the period. Cresset Asset Management LLC increased its position in shares of Trane Technologies by 0.3% in the 3rd quarter. Cresset Asset Management LLC now owns 7,012 shares of the company’s stock valued at $2,959,000 after buying an additional 24 shares in the last quarter. Finally, Bridges Investment Management Inc. raised its stake in Trane Technologies by 1.6% during the 4th quarter. Bridges Investment Management Inc. now owns 1,542 shares of the company’s stock worth $600,000 after buying an additional 24 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Buying and Selling

In other news, CFO Christopher J. Kuehn sold 8,619 shares of the firm’s stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $450.00, for a total transaction of $3,878,550.00. Following the completion of the transaction, the chief financial officer directly owned 60,576 shares of the company’s stock, valued at $27,259,200. This trade represents a 12.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald E. Simmons sold 4,593 shares of Trane Technologies stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the completion of the sale, the insider owned 3,819 shares in the company, valued at $1,909,500. This trade represents a 54.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.43% of the company’s stock.

Trane Technologies Price Performance

TT stock opened at $478.08 on Monday. The stock has a 50-day moving average price of $469.89 and a two-hundred day moving average price of $438.28. Trane Technologies plc has a 1 year low of $348.06 and a 1 year high of $505.87. The stock has a market cap of $105.68 billion, a PE ratio of 36.97, a price-to-earnings-growth ratio of 2.20 and a beta of 1.20. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Friday, May 1st. The company reported $2.63 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.10. The company had revenue of $4.97 billion for 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%.The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.45 earnings per share. Equities analysts forecast that Trane Technologies plc will post 14.88 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 4th will be paid a $1.05 dividend. The ex-dividend date is Friday, September 4th. This represents a $4.20 annualized dividend and a yield of 0.9%. Trane Technologies’s payout ratio is presently 32.48%.

Wall Street Analysts Forecast Growth

TT has been the topic of several recent analyst reports. Barclays lifted their target price on Trane Technologies from $507.00 to $585.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Trane Technologies in a research report on Monday, April 20th. Evercore assumed coverage on Trane Technologies in a report on Monday, April 13th. They set an “outperform” rating and a $535.00 price objective on the stock. Royal Bank Of Canada boosted their price objective on Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a research report on Friday, May 1st. Finally, Citigroup raised their target price on shares of Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $509.12.

About Trane Technologies

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.