Sage Mountain Advisors LLC Reduces Position in Trane Technologies plc (NYSE:TT)

Sage Mountain Advisors LLC reduced its position in Trane Technologies plc (NYSE:TT) by 5.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,414 shares of the company’s stock after selling 75 shares during the quarter. Sage Mountain Advisors LLC’s holdings in Trane Technologies were worth $522,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Cobblestone Capital Advisors LLC NY grew its stake in shares of Trane Technologies by 1.8% during the third quarter. Cobblestone Capital Advisors LLC NY now owns 1,490 shares of the company’s stock valued at $579,000 after buying an additional 27 shares during the last quarter. Wescott Financial Advisory Group LLC boosted its holdings in Trane Technologies by 1.7% during the 3rd quarter. Wescott Financial Advisory Group LLC now owns 1,723 shares of the company’s stock valued at $670,000 after acquiring an additional 28 shares during the period. Secured Retirement Advisors LLC grew its position in Trane Technologies by 0.6% in the 4th quarter. Secured Retirement Advisors LLC now owns 4,628 shares of the company’s stock valued at $1,709,000 after acquiring an additional 28 shares during the last quarter. First Citizens Financial Corp increased its stake in Trane Technologies by 4.6% in the fourth quarter. First Citizens Financial Corp now owns 656 shares of the company’s stock worth $242,000 after purchasing an additional 29 shares during the period. Finally, Catalina Capital Group LLC lifted its position in shares of Trane Technologies by 3.2% during the fourth quarter. Catalina Capital Group LLC now owns 924 shares of the company’s stock worth $341,000 after purchasing an additional 29 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Performance

TT stock opened at $334.57 on Wednesday. Trane Technologies plc has a one year low of $281.46 and a one year high of $422.00. The firm has a market cap of $75.04 billion, a price-to-earnings ratio of 29.74, a PEG ratio of 2.50 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. The firm has a 50-day simple moving average of $366.61 and a two-hundred day simple moving average of $380.39.

Trane Technologies (NYSE:TT) last announced its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, beating 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%. On average, equities analysts forecast that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.12%. 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 33.42%.

Analyst Upgrades and Downgrades

TT has been the topic of a number of research analyst reports. UBS Group cut their price target on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Royal Bank of Canada upped their target price on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research note on Friday, January 3rd. Citigroup decreased their price target on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Barclays dropped their price objective on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, Northcoast Research started coverage on Trane Technologies in a research report on Friday, November 22nd. They set a “buy” rating and a $500.00 target price for the company. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $413.69.

Insider Activity at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 2,754 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total transaction of $984,114.36. Following the sale, the chief executive officer now owns 132,969 shares of the company’s stock, valued at approximately $47,515,142.46. The trade was a 2.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 completion of the transaction, the chief financial officer now directly owns 63,841 shares of the company’s stock, valued at approximately $22,818,050.22. This represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,234 shares of company stock valued at $2,588,102 in the last ninety days. Corporate insiders own 0.38% of the company’s stock.

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.