Dupont Capital Management Corp Trims Position in Trane Technologies plc (NYSE:TT)

Dupont Capital Management Corp decreased its position in shares of Trane Technologies plc (NYSE:TTFree Report) by 28.6% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 47,427 shares of the company’s stock after selling 19,042 shares during the period. Dupont Capital Management Corp’s holdings in Trane Technologies were worth $11,567,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. BKM Wealth Management LLC purchased a new position in shares of Trane Technologies during the fourth quarter valued at approximately $25,000. Venturi Wealth Management LLC lifted its stake in shares of Trane Technologies by 139.7% during the third quarter. Venturi Wealth Management LLC now owns 151 shares of the company’s stock valued at $31,000 after buying an additional 88 shares during the period. Live Oak Investment Partners purchased a new position in shares of Trane Technologies during the fourth quarter valued at approximately $30,000. Avior Wealth Management LLC grew its holdings in Trane Technologies by 58.0% during the 3rd quarter. Avior Wealth Management LLC now owns 177 shares of the company’s stock valued at $36,000 after purchasing an additional 65 shares in the last quarter. Finally, Rosenberg Matthew Hamilton grew its holdings in Trane Technologies by 27.2% during the 4th quarter. Rosenberg Matthew Hamilton now owns 192 shares of the company’s stock valued at $47,000 after purchasing an additional 41 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Trading Up 0.3 %

Trane Technologies stock opened at $297.48 on Wednesday. The company has a 50 day moving average price of $280.99 and a 200 day moving average price of $242.82. Trane Technologies plc has a 52 week low of $162.04 and a 52 week high of $305.00. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.78 and a current ratio of 1.13. The firm has a market capitalization of $67.55 billion, a price-to-earnings ratio of 33.84, a P/E/G ratio of 2.32 and a beta of 1.05.

Trane Technologies (NYSE:TTGet Free Report) last posted its quarterly earnings data on Thursday, February 1st. The company reported $2.17 EPS for the quarter, topping analysts’ consensus estimates of $2.13 by $0.04. Trane Technologies had a net margin of 11.45% and a return on equity of 32.01%. The firm had revenue of $4.42 billion during the quarter, compared to analyst estimates of $4.43 billion. During the same quarter last year, the business posted $1.82 EPS. The company’s revenue was up 8.6% on a year-over-year basis. Research analysts forecast that Trane Technologies plc will post 10.19 EPS for the current year.

Trane Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 1st were paid a $0.84 dividend. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.75. The ex-dividend date was Thursday, February 29th. This represents a $3.36 dividend on an annualized basis and a yield of 1.13%. Trane Technologies’s dividend payout ratio (DPR) is currently 38.23%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TT. Citigroup raised their price objective on shares of Trane Technologies from $246.00 to $269.00 and gave the stock a “buy” rating in a report on Monday, December 11th. Stephens increased their price objective on shares of Trane Technologies from $235.00 to $280.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. Royal Bank of Canada increased their price objective on shares of Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a report on Friday, February 2nd. The Goldman Sachs Group increased their price objective on shares of Trane Technologies from $253.00 to $287.00 and gave the company a “neutral” rating in a report on Monday, February 5th. Finally, Wells Fargo & Company increased their price objective on shares of Trane Technologies from $200.00 to $246.00 and gave the company an “underweight” rating in a report on Tuesday, December 19th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Trane Technologies presently has an average rating of “Hold” and an average target price of $239.92.

Check Out Our Latest Research Report on Trane Technologies

Insiders Place Their Bets

In other news, CFO Christopher J. Kuehn sold 3,762 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $286.48, for a total transaction of $1,077,737.76. Following the transaction, the chief financial officer now directly owns 61,691 shares in the company, valued at approximately $17,673,237.68. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Trane Technologies news, CEO David S. Regnery sold 6,990 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $286.19, for a total value of $2,000,468.10. Following the completion of the sale, the chief executive officer now directly owns 113,874 shares of the company’s stock, valued at $32,589,600.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Christopher J. Kuehn sold 3,762 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $286.48, for a total transaction of $1,077,737.76. Following the transaction, the chief financial officer now owns 61,691 shares in the company, valued at approximately $17,673,237.68. The disclosure for this sale can be found here. Insiders sold a total of 29,874 shares of company stock worth $8,462,825 in the last quarter. 0.39% of the stock is currently owned by corporate insiders.

About Trane Technologies

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Trane Technologies (NYSE:TT)

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