Adams Diversified Equity Fund Inc. Sells 35,800 Shares of Trane Technologies plc (NYSE:TT)

Adams Diversified Equity Fund Inc. cut its stake in Trane Technologies plc (NYSE:TT) by 36.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 61,200 shares of the company’s stock after selling 35,800 shares during the quarter. Adams Diversified Equity Fund Inc.’s holdings in Trane Technologies were worth $23,790,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. DT Investment Partners LLC purchased a new stake in Trane Technologies in the third quarter worth $36,000. BOK Financial Private Wealth Inc. purchased a new position in Trane Technologies during the 1st quarter valued at about $30,000. Fortitude Family Office LLC boosted its stake in Trane Technologies by 63.2% during the second quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock worth $37,000 after acquiring an additional 43 shares in the last quarter. Triad Wealth Partners LLC purchased a new stake in Trane Technologies in the second quarter worth about $39,000. Finally, Quarry LP purchased a new stake in shares of Trane Technologies in the 2nd quarter worth approximately $39,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on TT shares. Mizuho increased their price objective on shares of Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Barclays upped their price target on Trane Technologies from $394.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Morgan Stanley assumed coverage on Trane Technologies in a report on Friday, September 6th. They issued an “overweight” rating and a $425.00 price objective for the company. Stephens reissued an “equal weight” rating and issued a $350.00 target price on shares of Trane Technologies in a research report on Monday, August 5th. Finally, Wells Fargo & Company lifted their price target on shares of Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $373.58.

Trane Technologies Stock Down 0.4 %

Shares of TT stock opened at $391.03 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.17 and a quick ratio of 0.84. Trane Technologies plc has a one year low of $185.75 and a one year high of $406.96. The company’s fifty day moving average price is $376.49 and its 200-day moving average price is $344.40. The company has a market capitalization of $88.51 billion, a price-to-earnings ratio of 41.78, a PEG ratio of 2.70 and a beta of 1.01.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, beating the consensus estimate of $3.08 by $0.22. The business had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.13 billion. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The business’s revenue was up 12.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.68 earnings per share. Sell-side analysts expect that Trane Technologies plc will post 10.89 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s dividend payout ratio (DPR) is currently 35.90%.

Insider Activity

In other Trane Technologies news, CEO David S. Regnery sold 29,450 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the completion of the transaction, the chief executive officer now owns 132,946 shares of the company’s stock, valued at $42,708,902.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO David S. Regnery sold 29,450 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total value of $9,460,812.50. Following the sale, the chief executive officer now directly owns 132,946 shares in the company, valued at approximately $42,708,902.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Raymond D. Pittard sold 1,805 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total value of $593,213.25. Following the transaction, the executive vice president now owns 83,517 shares of the company’s stock, valued at $27,447,862.05. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.

About Trane Technologies

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.