Crestone Asset Management LLC Reduces Position in Trane Technologies plc (NYSE:TT)

Crestone Asset Management LLC cut its stake in Trane Technologies plc (NYSE:TT) by 34.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,078 shares of the company’s stock after selling 563 shares during the period. Crestone Asset Management LLC’s holdings in Trane Technologies were worth $263,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BKM Wealth Management LLC bought a new position in shares of Trane Technologies during the fourth quarter worth $25,000. Venturi Wealth Management LLC boosted its stake in shares of Trane Technologies by 139.7% during the third quarter. Venturi Wealth Management LLC now owns 151 shares of the company’s stock valued at $31,000 after purchasing an additional 88 shares during the period. Rosenberg Matthew Hamilton boosted its holdings in shares of Trane Technologies by 27.2% in the fourth quarter. Rosenberg Matthew Hamilton now owns 192 shares of the company’s stock valued at $47,000 after purchasing an additional 41 shares during the period. Ancora Advisors LLC bought a new stake in shares of Trane Technologies in the third quarter valued at about $40,000. Finally, Operose Advisors LLC purchased a new position in Trane Technologies during the third quarter valued at approximately $53,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity

In other Trane Technologies news, SVP Evan M. Turtz sold 2,821 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $288.33, for a total value of $813,378.93. Following the transaction, the senior vice president now directly owns 20,729 shares in the company, valued at approximately $5,976,792.57. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, SVP Evan M. Turtz sold 2,821 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $288.33, for a total transaction of $813,378.93. Following the completion of the sale, the senior vice president now owns 20,729 shares in the company, valued at approximately $5,976,792.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Paul A. Camuti sold 508 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $273.34, for a total transaction of $138,856.72. Following the sale, the executive vice president now directly owns 89,447 shares of the company’s stock, valued at $24,449,442.98. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,237 shares of company stock valued at $8,024,534. Company insiders own 0.39% of the company’s stock.

Trane Technologies Trading Up 0.5 %

NYSE:TT traded up $1.64 during trading hours on Wednesday, reaching $327.53. 647,371 shares of the stock were exchanged, compared to its average volume of 1,022,589. Trane Technologies plc has a twelve month low of $162.04 and a twelve month high of $329.14. The company has a quick ratio of 0.74, a current ratio of 1.13 and a debt-to-equity ratio of 0.58. The business has a 50-day moving average of $297.50 and a two-hundred day moving average of $260.63. The company has a market capitalization of $74.14 billion, a price-to-earnings ratio of 35.00, a PEG ratio of 2.54 and a beta of 1.01.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.30. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. The company had revenue of $4.22 billion for the quarter, compared to the consensus estimate of $3.99 billion. During the same quarter in the prior year, the business earned $1.41 EPS. Trane Technologies’s revenue was up 15.0% on a year-over-year basis. On average, equities analysts predict that Trane Technologies plc will post 10.48 EPS for the current year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a dividend of $0.84 per share. The ex-dividend date is Friday, June 7th. This represents a $3.36 annualized dividend and a dividend yield of 1.03%. Trane Technologies’s dividend payout ratio (DPR) is 35.90%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on TT shares. Mizuho lifted their target price on Trane Technologies from $280.00 to $325.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. JPMorgan Chase & Co. upped their price target on Trane Technologies from $247.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Wells Fargo & Company upped their target price on Trane Technologies from $281.00 to $295.00 and gave the company an “underweight” rating in a research report on Thursday, May 2nd. Barclays boosted their price target on Trane Technologies from $286.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Finally, TD Cowen boosted their target price on shares of Trane Technologies from $325.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $300.54.

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.