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

Cresset Asset Management LLC reduced its position in shares of Trane Technologies plc (NYSE:TT) by 59.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,973 shares of the company’s stock after selling 10,198 shares during the period. Cresset Asset Management LLC’s holdings in Trane Technologies were worth $2,575,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sound Income Strategies LLC lifted its holdings in Trane Technologies by 1,314.3% during the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock worth $37,000 after buying an additional 92 shares during the last quarter. Flagship Wealth Advisors LLC purchased a new stake in Trane Technologies during the fourth quarter worth approximately $37,000. Golden State Wealth Management LLC acquired a new position in Trane Technologies in the fourth quarter valued at approximately $39,000. BankPlus Trust Department purchased a new position in Trane Technologies in the fourth quarter valued at approximately $45,000. Finally, Centricity Wealth Management LLC acquired a new stake in Trane Technologies during the fourth quarter worth approximately $55,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity

In other news, SVP Evan M. Turtz sold 318 shares of Trane Technologies stock in a transaction on Monday, February 10th. The stock was sold at an average price of $358.12, for a total transaction of $113,882.16. Following the completion of the transaction, the senior vice president now owns 20,513 shares of the company’s stock, valued at $7,346,115.56. The trade was a 1.53 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO David S. Regnery sold 2,318 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $358.17, for a total transaction of $830,238.06. Following the completion of the sale, the chief executive officer now owns 126,831 shares in the company, valued at $45,427,059.27. This represents a 1.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,977 shares of company stock worth $2,577,061 in the last 90 days. 0.38% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

TT has been the topic of a number of recent analyst reports. Citigroup increased their target price on shares of Trane Technologies from $415.00 to $445.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Wells Fargo & Company boosted their target price on Trane Technologies from $330.00 to $370.00 and gave the company an “underweight” rating in a report on Thursday, May 1st. Stephens upgraded Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 price target on the stock in a research note on Thursday, May 1st. Royal Bank of Canada boosted their price objective on Trane Technologies from $363.00 to $408.00 and gave the company a “sector perform” rating in a research note on Thursday, May 1st. Finally, Barclays lowered their target price on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $421.07.

Trane Technologies Trading Down 0.3 %

Shares of Trane Technologies stock opened at $404.32 on Friday. 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 firm has a market cap of $90.17 billion, a price-to-earnings ratio of 35.94, a price-to-earnings-growth ratio of 2.50 and a beta of 1.14. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $422.00. The company’s 50-day simple moving average is $350.05 and its 200-day simple moving average is $372.45.

Trane Technologies (NYSE:TT) last issued its earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $0.25. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The business had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.46 billion. During the same period in the prior year, the business posted $1.94 EPS. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, equities research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be paid a dividend of $0.94 per share. The ex-dividend date is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.93%. Trane Technologies’s dividend payout ratio (DPR) is presently 31.28%.

Trane Technologies 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.