Wakefield Asset Management LLLP Has $3.52 Million Stake in Trane Technologies plc (NYSE:TT)

Wakefield Asset Management LLLP decreased its position in Trane Technologies plc (NYSE:TT) by 1.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,448 shares of the company’s stock after selling 273 shares during the period. Trane Technologies makes up 1.3% of Wakefield Asset Management LLLP’s holdings, making the stock its 19th biggest holding. Wakefield Asset Management LLLP’s holdings in Trane Technologies were worth $3,524,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Acadian Asset Management LLC acquired a new position in shares of Trane Technologies during the first quarter valued at about $178,000. Blair William & Co. IL raised its holdings in shares of Trane Technologies by 3.0% during the first quarter. Blair William & Co. IL now owns 16,727 shares of the company’s stock valued at $2,554,000 after purchasing an additional 495 shares during the period. Sequoia Financial Advisors LLC acquired a new position in shares of Trane Technologies during the first quarter valued at about $219,000. Vanguard Group Inc. raised its holdings in shares of Trane Technologies by 0.4% during the first quarter. Vanguard Group Inc. now owns 18,133,851 shares of the company’s stock valued at $2,769,040,000 after purchasing an additional 77,924 shares during the period. Finally, Mackenzie Financial Corp raised its holdings in shares of Trane Technologies by 3.8% during the first quarter. Mackenzie Financial Corp now owns 956,177 shares of the company’s stock valued at $146,008,000 after purchasing an additional 34,591 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Transactions at Trane Technologies

In other news, SVP Keith A. Sultana sold 1,637 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $267.74, for a total value of $438,290.38. Following the transaction, the senior vice president now owns 42,374 shares of the company’s stock, valued at approximately $11,345,214.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Keith A. Sultana sold 1,637 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $267.74, for a total transaction of $438,290.38. Following the transaction, the senior vice president now owns 42,374 shares of the company’s stock, valued at approximately $11,345,214.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Christopher J. Kuehn sold 3,762 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $286.48, for a total transaction of $1,077,737.76. Following the transaction, the chief financial officer now directly owns 61,691 shares in the company, valued at approximately $17,673,237.68. The disclosure for this sale can be found here. Insiders have sold 29,874 shares of company stock valued at $8,462,825 in the last quarter. Insiders own 0.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TT. Stephens boosted their target price on shares of Trane Technologies from $235.00 to $280.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 6th. Wells Fargo & Company boosted their target price on shares of Trane Technologies from $200.00 to $246.00 and gave the stock an “underweight” rating in a research report on Tuesday, December 19th. Citigroup boosted their target price on shares of Trane Technologies from $246.00 to $269.00 and gave the stock a “buy” rating in a research report on Monday, December 11th. The Goldman Sachs Group boosted their target price on shares of Trane Technologies from $253.00 to $287.00 and gave the stock a “neutral” rating in a research report on Monday, February 5th. Finally, Royal Bank of Canada upped their price objective on shares of Trane Technologies from $231.00 to $246.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $239.92.

Trane Technologies Stock Performance

Shares of TT stock traded up $7.16 during trading on Friday, reaching $304.67. 811,436 shares of the company’s stock traded hands, compared to its average volume of 818,697. Trane Technologies plc has a 1 year low of $162.04 and a 1 year high of $306.13. The company has a current ratio of 1.13, a quick ratio of 0.78 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $69.18 billion, a P/E ratio of 34.66, a PEG ratio of 2.57 and a beta of 1.05. The firm’s 50-day moving average is $283.96 and its 200 day moving average is $244.59.

Trane Technologies (NYSE:TT) last posted its earnings results on Thursday, February 1st. The company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.13 by $0.04. Trane Technologies had a net margin of 11.45% and a return on equity of 32.01%. The business had revenue of $4.42 billion for the quarter, compared to analysts’ expectations of $4.43 billion. During the same period in the prior year, the company posted $1.82 EPS. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. Equities research analysts expect that Trane Technologies plc will post 10.19 EPS for the current year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend is Thursday, June 6th. Trane Technologies’s payout ratio is 38.23%.

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.