Lafayette Investments Inc. Sells 125 Shares of Trane Technologies plc (NYSE:TT)

Lafayette Investments Inc. decreased its position in shares of Trane Technologies plc (NYSE:TT) by 6.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,722 shares of the company’s stock after selling 125 shares during the period. Lafayette Investments Inc.’s holdings in Trane Technologies were worth $420,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Wellington Management Group LLP grew its holdings in shares of Trane Technologies by 36.4% during the 3rd quarter. Wellington Management Group LLP now owns 1,639,058 shares of the company’s stock worth $332,581,000 after purchasing an additional 436,997 shares in the last quarter. CHICAGO TRUST Co NA grew its holdings in shares of Trane Technologies by 2.1% during the 4th quarter. CHICAGO TRUST Co NA now owns 3,136 shares of the company’s stock worth $765,000 after purchasing an additional 64 shares in the last quarter. Wealth Effects LLC acquired a new stake in Trane Technologies in the fourth quarter valued at about $239,000. Graypoint LLC boosted its stake in Trane Technologies by 46.0% in the third quarter. Graypoint LLC now owns 2,043 shares of the company’s stock valued at $414,000 after buying an additional 644 shares in the last quarter. Finally, Invera Wealth Advisors LLC acquired a new stake in Trane Technologies in the fourth quarter valued at about $4,097,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on TT shares. The Goldman Sachs Group raised their price objective on Trane Technologies from $253.00 to $287.00 and gave the company a “neutral” rating in a research note on Monday, February 5th. Stephens raised their price objective on Trane Technologies from $235.00 to $280.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 6th. Citigroup raised their price objective on Trane Technologies from $309.00 to $355.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Barclays raised their price objective on Trane Technologies from $286.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Finally, Royal Bank of Canada boosted their price objective on Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a report on Friday, February 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $251.83.

Trane Technologies Stock Up 0.9 %

Shares of NYSE:TT traded up $2.48 during mid-day trading on Friday, hitting $292.04. 222,646 shares of the company traded hands, compared to its average volume of 986,892. The stock has a market cap of $66.31 billion, a P/E ratio of 32.92, a P/E/G ratio of 2.47 and a beta of 1.05. The company has a current ratio of 1.13, a quick ratio of 0.78 and a debt-to-equity ratio of 0.57. Trane Technologies plc has a 12-month low of $162.04 and a 12-month high of $306.98. The stock has a 50-day moving average price of $289.41 and a two-hundred day moving average price of $250.29.

Trane Technologies (NYSE:TT) last announced its earnings results on Thursday, February 1st. The company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.04. Trane Technologies had a return on equity of 32.01% and a net margin of 11.45%. The company had revenue of $4.42 billion for the quarter, compared to analysts’ expectations of $4.43 billion. During the same quarter in the previous year, the firm earned $1.82 earnings per share. Trane Technologies’s quarterly revenue was up 8.6% on a year-over-year basis. On average, equities research analysts forecast that Trane Technologies plc will post 10.2 earnings per share for the current year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a $0.84 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $3.36 annualized dividend and a yield of 1.15%. Trane Technologies’s dividend payout ratio is currently 38.23%.

Insiders Place Their Bets

In other Trane Technologies news, SVP Keith A. Sultana sold 1,983 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $272.26, for a total value of $539,891.58. Following the transaction, the senior vice president now owns 42,575 shares of the company’s stock, valued at $11,591,469.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Trane Technologies news, SVP Keith A. Sultana sold 1,983 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $272.26, for a total value of $539,891.58. Following the sale, the senior vice president now directly owns 42,575 shares in the company, valued at $11,591,469.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO David S. Regnery sold 6,990 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $286.19, for a total value of $2,000,468.10. Following the completion of the sale, the chief executive officer now owns 113,874 shares in the company, valued at $32,589,600.06. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,874 shares of company stock valued at $8,462,825. Insiders own 0.39% 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.