Metis Global Partners LLC Trims Stock Holdings in Trane Technologies plc (NYSE:TT)

Metis Global Partners LLC lowered its position in Trane Technologies plc (NYSE:TT) by 1.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,617 shares of the company’s stock after selling 195 shares during the quarter. Metis Global Partners LLC’s holdings in Trane Technologies were worth $3,921,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TT. Global Wealth Strategies & Associates purchased a new stake in shares of Trane Technologies during the fourth quarter worth approximately $26,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Trane Technologies during the third quarter worth approximately $27,000. Sound Income Strategies LLC raised its stake in shares of Trane Technologies by 1,314.3% during the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock worth $37,000 after purchasing an additional 92 shares during the last quarter. Pittenger & Anderson Inc. purchased a new stake in shares of Trane Technologies during the third quarter worth approximately $39,000. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Trane Technologies during the fourth quarter worth approximately $39,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 876 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was 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 trade represents a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David S. Regnery sold 2,754 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total value of $984,114.36. Following the completion of the transaction, the chief executive officer now owns 132,969 shares of the company’s stock, valued at $47,515,142.46. The trade was a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,563 shares of company stock valued at $4,388,966. 0.38% of the stock is owned by insiders.

Trane Technologies Stock Up 2.9 %

Shares of NYSE TT opened at $354.22 on Friday. The firm’s 50-day moving average is $371.26 and its two-hundred day moving average is $380.45. The company has a market capitalization of $79.45 billion, a PE ratio of 31.49, a price-to-earnings-growth ratio of 2.50 and a beta of 1.05. Trane Technologies plc has a 12-month low of $279.00 and a 12-month high of $422.00. 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 (NYSE:TT) last announced its earnings results on Thursday, January 30th. The company reported $2.61 EPS for the quarter, beating analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. Equities analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date is Friday, March 7th. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s dividend payout ratio (DPR) is currently 29.87%.

Wall Street Analysts Forecast Growth

TT has been the subject of several analyst reports. Royal Bank of Canada upped their price target on Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research note on Friday, January 3rd. Northcoast Research assumed coverage on Trane Technologies in a research note on Friday, November 22nd. They set a “buy” rating and a $500.00 price target for the company. Citigroup dropped their price objective on Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a report on Monday, January 13th. JPMorgan Chase & Co. increased their price objective on Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Finally, Wells Fargo & Company decreased their target price on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $415.25.

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.