Trane Technologies plc (NYSE:TT) Shares Sold by Convergence Investment Partners LLC

Convergence Investment Partners LLC reduced its position in shares of Trane Technologies plc (NYSE:TT) by 11.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 607 shares of the company’s stock after selling 79 shares during the period. Convergence Investment Partners LLC’s holdings in Trane Technologies were worth $224,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. New York State Common Retirement Fund boosted its position in Trane Technologies by 1.2% during the fourth quarter. New York State Common Retirement Fund now owns 365,429 shares of the company’s stock worth $134,971,000 after acquiring an additional 4,443 shares during the last quarter. Prossimo Advisors LLC boosted its holdings in shares of Trane Technologies by 0.7% during the fourth quarter. Prossimo Advisors LLC now owns 4,463 shares of the company’s stock worth $1,648,000 after purchasing an additional 32 shares during the last quarter. Valley Wealth Managers Inc. boosted its holdings in shares of Trane Technologies by 840.6% during the fourth quarter. Valley Wealth Managers Inc. now owns 1,458 shares of the company’s stock worth $539,000 after purchasing an additional 1,303 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Trane Technologies by 4.3% during the fourth quarter. CIBC Asset Management Inc now owns 34,358 shares of the company’s stock worth $12,690,000 after purchasing an additional 1,416 shares during the last quarter. Finally, Sanctuary Advisors LLC boosted its holdings in shares of Trane Technologies by 1.3% during the fourth quarter. Sanctuary Advisors LLC now owns 31,385 shares of the company’s stock worth $11,497,000 after purchasing an additional 404 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Trading Up 2.0 %

TT opened at $370.04 on Thursday. The stock has a market capitalization of $83.00 billion, a PE ratio of 32.89, a P/E/G ratio of 2.48 and a beta of 1.05. The firm’s fifty day moving average price is $376.38 and its 200 day moving average price is $379.24. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. Trane Technologies plc has a 12-month low of $270.50 and a 12-month high of $422.00.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Thursday, January 30th. The company reported $2.61 EPS for the quarter, topping the consensus estimate of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. As a group, research analysts expect that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.02%. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date is Friday, March 7th. Trane Technologies’s payout ratio is 29.87%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Northcoast Research assumed coverage on Trane Technologies in a research note on Friday, November 22nd. They issued a “buy” rating and a $500.00 price target on the stock. UBS Group decreased their target price on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Melius Research reiterated a “hold” rating and issued a $398.00 price target on shares of Trane Technologies in a report on Tuesday, January 28th. Citigroup decreased their price target on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Finally, Hsbc Global Res cut Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $415.25.

Insider Activity at Trane Technologies

In related news, CFO Christopher J. Kuehn sold 876 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.42, for a total transaction of $313,099.92. Following the sale, the chief financial officer now owns 63,841 shares in the company, valued at $22,818,050.22. This represents a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Mairead Magner sold 198 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total transaction of $70,806.78. Following the sale, the senior vice president now owns 13,401 shares in the company, valued at approximately $4,792,331.61. This trade represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,563 shares of company stock valued at $4,388,966. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Company 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.