Pallas Capital Advisors LLC Sells 2,590 Shares of Trane Technologies plc $TT

Pallas Capital Advisors LLC trimmed its holdings in Trane Technologies plc (NYSE:TT) by 37.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,381 shares of the company’s stock after selling 2,590 shares during the period. Pallas Capital Advisors LLC’s holdings in Trane Technologies were worth $1,849,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Financial Consulate Inc. purchased a new position in Trane Technologies in the 3rd quarter worth approximately $25,000. Icon Advisers Inc. Co. bought a new stake in shares of Trane Technologies during the second quarter valued at approximately $26,000. Hantz Financial Services Inc. lifted its holdings in shares of Trane Technologies by 1,016.7% in the second quarter. Hantz Financial Services Inc. now owns 67 shares of the company’s stock worth $29,000 after buying an additional 61 shares in the last quarter. United Community Bank boosted its position in shares of Trane Technologies by 134.4% during the third quarter. United Community Bank now owns 75 shares of the company’s stock worth $32,000 after acquiring an additional 43 shares during the last quarter. Finally, Halbert Hargrove Global Advisors LLC grew its stake in Trane Technologies by 34.2% during the third quarter. Halbert Hargrove Global Advisors LLC now owns 102 shares of the company’s stock valued at $43,000 after acquiring an additional 26 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Trading Up 1.0%

Shares of TT stock opened at $465.04 on Tuesday. The company has a market cap of $102.93 billion, a PE ratio of 35.83, a price-to-earnings-growth ratio of 2.45 and a beta of 1.21. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $479.37. The stock’s 50 day simple moving average is $405.27 and its two-hundred day simple moving average is $414.50. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.92.

Trane Technologies (NYSE:TT) last released its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.05. The firm had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $5.09 billion. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.61 EPS. Research analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be paid a $1.05 dividend. This is an increase from Trane Technologies’s previous quarterly dividend of $0.94. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, March 6th. Trane Technologies’s payout ratio is currently 28.97%.

Insider Activity

In other Trane Technologies news, insider Donald E. Simmons sold 822 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $462.57, for a total transaction of $380,232.54. Following the completion of the transaction, the insider owned 3,819 shares in the company, valued at $1,766,554.83. The trade was a 17.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David S. Regnery sold 5,588 shares of the stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $462.60, for a total value of $2,585,008.80. Following the completion of the sale, the chief executive officer owned 96,948 shares in the company, valued at approximately $44,848,144.80. The trade was a 5.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 8,936 shares of company stock worth $4,133,991 over the last 90 days. Insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on TT shares. JPMorgan Chase & Co. boosted their price target on shares of Trane Technologies from $434.00 to $460.00 and gave the stock a “neutral” rating in a research note on Friday, January 30th. KeyCorp raised Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 target price on the stock in a report on Monday, December 15th. Morgan Stanley decreased their target price on Trane Technologies from $550.00 to $535.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 13th. UBS Group cut their price target on Trane Technologies from $544.00 to $520.00 and set a “buy” rating for the company in a report on Monday, January 5th. Finally, Bank of America raised Trane Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $490.00 to $550.00 in a research note on Thursday, November 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $484.67.

Trane Technologies Company Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.