Essex Financial Services Inc. Sells 29 Shares of Trane Technologies plc (NYSE:TT)

Essex Financial Services Inc. lowered its stake in Trane Technologies plc (NYSE:TT) by 0.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,267 shares of the company’s stock after selling 29 shares during the quarter. Essex Financial Services Inc.’s holdings in Trane Technologies were worth $1,207,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Transactions at Trane Technologies

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

Analysts Set New Price Targets

TT has been the topic of several recent analyst reports. Melius Research reiterated a “hold” rating and set a $398.00 price objective on shares of Trane Technologies in a research report on Tuesday, January 28th. Robert W. Baird reduced their price target on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. JPMorgan Chase & Co. increased their price objective on shares of Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a report on Friday, January 31st. UBS Group reduced their target price on Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Finally, Hsbc Global Res downgraded Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. One equities research 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $415.25.

Trane Technologies Stock Up 1.1 %

Shares of TT opened at $364.55 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The business has a fifty day moving average of $382.56 and a 200 day moving average of $377.89. The company has a market cap of $82.03 billion, a PE ratio of 32.40, a P/E/G ratio of 2.44 and a beta of 1.05. Trane Technologies plc has a 52-week low of $265.37 and a 52-week high of $422.00.

Trane Technologies (NYSE:TT) last released its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (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%. On average, sell-side analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

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

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.