Holderness Investments Co. Decreases Position in Trane Technologies plc (NYSE:TT)

Holderness Investments Co. lessened its holdings in Trane Technologies plc (NYSE:TT) by 1.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,830 shares of the company’s stock after selling 75 shares during the quarter. Holderness Investments Co.’s holdings in Trane Technologies were worth $1,415,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Blueshift Asset Management LLC purchased a new position in Trane Technologies in the 4th quarter worth $270,000. Wilkins Investment Counsel Inc. increased its position in shares of Trane Technologies by 27.6% in the fourth quarter. Wilkins Investment Counsel Inc. now owns 893 shares of the company’s stock valued at $330,000 after acquiring an additional 193 shares during the period. Magnetar Financial LLC purchased a new position in shares of Trane Technologies in the fourth quarter valued at about $5,073,000. Teacher Retirement System of Texas increased its position in shares of Trane Technologies by 25.9% in the fourth quarter. Teacher Retirement System of Texas now owns 220,483 shares of the company’s stock valued at $81,435,000 after acquiring an additional 45,298 shares during the period. Finally, Sandy Spring Bank increased its position in shares of Trane Technologies by 4.0% in the fourth quarter. Sandy Spring Bank now owns 15,929 shares of the company’s stock valued at $5,883,000 after acquiring an additional 606 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

TT has been the topic of a number of analyst reports. JPMorgan Chase & Co. boosted their price objective 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. UBS Group decreased their price objective on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Northcoast Research initiated coverage on shares of Trane Technologies in a research report on Friday, November 22nd. They issued a “buy” rating and a $500.00 price objective on the stock. Wells Fargo & Company decreased their price objective 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. Finally, Melius Research reiterated a “hold” rating and set a $398.00 price target on shares of Trane Technologies in a research report on Tuesday, January 28th. 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $413.69.

Insider Transactions at Trane Technologies

In other news, 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 value of $984,114.36. Following the transaction, the chief executive officer now owns 132,969 shares in the company, valued at approximately $47,515,142.46. This represents a 2.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Christopher J. Kuehn sold 876 shares of the company’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 completion of the transaction, the chief financial officer now owns 63,841 shares in the company, 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. Over the last 90 days, insiders have sold 7,234 shares of company stock worth $2,588,102. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Trading Down 0.2 %

NYSE:TT opened at $349.24 on Friday. Trane Technologies plc has a one year low of $286.32 and a one year 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. The company’s 50-day simple moving average is $361.84 and its 200 day simple moving average is $379.62. The firm has a market capitalization of $78.33 billion, a P/E ratio of 31.04, a PEG ratio of 2.50 and a beta of 1.08.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Thursday, January 30th. The company reported $2.61 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%. As a group, analysts forecast that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The company 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 $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s dividend payout ratio is currently 33.42%.

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.