Great Lakes Retirement Inc. Reduces Position in Trane Technologies plc (NYSE:TT)

Great Lakes Retirement Inc. reduced its stake in shares of Trane Technologies plc (NYSE:TT) by 2.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,904 shares of the company’s stock after selling 416 shares during the period. Great Lakes Retirement Inc.’s holdings in Trane Technologies were worth $5,505,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Global Wealth Strategies & Associates purchased a new stake in shares of Trane Technologies during the 4th quarter valued at approximately $26,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Trane Technologies during the third quarter worth about $27,000. DT Investment Partners LLC purchased a new stake in Trane Technologies during the 3rd quarter worth approximately $36,000. Sound Income Strategies LLC lifted its holdings in Trane Technologies by 1,314.3% during the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock worth $37,000 after buying an additional 92 shares in the last quarter. Finally, Pittenger & Anderson Inc. purchased a new position in Trane Technologies in the 3rd quarter valued at approximately $39,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Trane Technologies Stock Performance

Shares of TT stock opened at $364.55 on Wednesday. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. Trane Technologies plc has a 12-month low of $265.37 and a 12-month high of $422.00. The company has a market cap of $82.03 billion, a price-to-earnings ratio of 32.40, a price-to-earnings-growth ratio of 2.44 and a beta of 1.05. The stock has a 50 day simple moving average of $382.56 and a 200-day simple moving average of $377.89.

Trane Technologies (NYSE:TT) last released 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%. On average, equities analysts forecast that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a dividend of $0.94 per share. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies’s dividend payout ratio is presently 29.87%.

Insider Buying and Selling at Trane Technologies

In related news, CFO Christopher J. Kuehn sold 770 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $358.39, for a total value of $275,960.30. Following the completion of the transaction, the chief financial officer now owns 62,221 shares of the company’s stock, valued at approximately $22,299,384.19. The trade was a 1.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO David S. Regnery sold 2,754 shares of the company’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 transaction, the chief executive officer now directly owns 132,969 shares in the company, valued at $47,515,142.46. The trade was a 2.03 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,563 shares of company stock valued at $4,388,966. Corporate insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on TT. Melius downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price target on the stock. in a report on Tuesday, January 28th. Royal Bank of Canada upped their target price on shares of Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a report on Friday, January 3rd. Barclays increased their target price on shares of Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. JPMorgan Chase & Co. boosted their price target on shares of Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Finally, UBS Group dropped their price objective on Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a 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 assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $415.25.

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.