Trane Technologies plc (NYSE:TT) Shares Sold by SVB Wealth LLC

SVB Wealth LLC cut its position in shares of Trane Technologies plc (NYSE:TT) by 9.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,346 shares of the company’s stock after selling 368 shares during the period. SVB Wealth LLC’s holdings in Trane Technologies were worth $816,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. BKM Wealth Management LLC acquired a new position in shares of Trane Technologies in the 4th quarter valued at $25,000. Venturi Wealth Management LLC boosted its holdings in Trane Technologies by 139.7% in the third quarter. Venturi Wealth Management LLC now owns 151 shares of the company’s stock worth $31,000 after purchasing an additional 88 shares during the period. Live Oak Investment Partners bought a new stake in Trane Technologies during the fourth quarter valued at $30,000. Avior Wealth Management LLC increased its stake in Trane Technologies by 58.0% during the third quarter. Avior Wealth Management LLC now owns 177 shares of the company’s stock valued at $36,000 after purchasing an additional 65 shares during the last quarter. Finally, Rosenberg Matthew Hamilton increased its stake in Trane Technologies by 27.2% during the fourth quarter. Rosenberg Matthew Hamilton now owns 192 shares of the company’s stock valued at $47,000 after purchasing an additional 41 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Price Performance

TT stock opened at $288.27 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.78 and a debt-to-equity ratio of 0.57. Trane Technologies plc has a one year low of $162.04 and a one year high of $306.98. The firm has a market capitalization of $65.46 billion, a PE ratio of 32.80, a P/E/G ratio of 2.44 and a beta of 1.05. The firm has a 50-day moving average of $289.67 and a two-hundred day moving average of $250.91.

Trane Technologies (NYSE:TT) last released 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 return on equity of 32.01% and a net margin of 11.45%. The firm had revenue of $4.42 billion for the quarter, compared to the consensus estimate of $4.43 billion. During the same quarter in the prior year, the company posted $1.82 earnings per share. The firm’s revenue was up 8.6% on a year-over-year basis. On average, analysts forecast that Trane Technologies plc will post 10.2 earnings per share for the current year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $3.36 dividend on an annualized basis and a yield of 1.17%. Trane Technologies’s payout ratio is currently 38.23%.

Insiders Place Their Bets

In other news, SVP Keith A. Sultana sold 1,637 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $267.74, for a total value of $438,290.38. Following the completion of the sale, the senior vice president now directly owns 42,374 shares of the company’s stock, valued at $11,345,214.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Christopher J. Kuehn sold 3,762 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $286.48, for a total value of $1,077,737.76. Following the completion of the transaction, the chief financial officer now directly owns 61,691 shares of the company’s stock, valued at $17,673,237.68. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Keith A. Sultana sold 1,637 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $267.74, for a total value of $438,290.38. Following the transaction, the senior vice president now owns 42,374 shares of the company’s stock, valued at $11,345,214.76. The disclosure for this sale can be found here. Insiders sold 29,874 shares of company stock valued at $8,462,825 over the last 90 days. 0.39% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on TT shares. Barclays boosted their target price on shares of Trane Technologies from $286.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Citigroup upped their price target on shares of Trane Technologies from $309.00 to $355.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Royal Bank of Canada upped their price target on shares of Trane Technologies from $231.00 to $246.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. Stephens upped their price target on shares of Trane Technologies from $235.00 to $280.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 6th. Finally, The Goldman Sachs Group upped their price target on shares of Trane Technologies from $253.00 to $287.00 and gave the stock a “neutral” rating in a research report on Monday, February 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Trane Technologies currently has a consensus rating of “Hold” and an average target price of $251.83.

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.