MAI Capital Management Sells 7,130 Shares of Trane Technologies plc $TT

MAI Capital Management cut its position in Trane Technologies plc (NYSE:TT) by 51.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 6,612 shares of the company’s stock after selling 7,130 shares during the period. MAI Capital Management’s holdings in Trane Technologies were worth $2,790,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in TT. Y Intercept Hong Kong Ltd bought a new stake in Trane Technologies during the third quarter valued at about $6,571,000. Nordea Investment Management AB grew its position in shares of Trane Technologies by 2.4% during the third quarter. Nordea Investment Management AB now owns 2,513,508 shares of the company’s stock worth $1,051,049,000 after purchasing an additional 57,774 shares in the last quarter. Boston Common Asset Management LLC bought a new stake in Trane Technologies during the 3rd quarter valued at approximately $9,546,000. Compass Wealth Management LLC lifted its holdings in Trane Technologies by 3,785.4% in the 3rd quarter. Compass Wealth Management LLC now owns 27,198 shares of the company’s stock worth $11,476,000 after purchasing an additional 26,498 shares in the last quarter. Finally, Tred Avon Family Wealth LLC bought a new position in Trane Technologies in the 3rd quarter worth approximately $1,530,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Up 1.0%

Shares of NYSE TT opened at $461.71 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $479.37. The firm’s 50-day moving average price is $417.67 and its 200-day moving average price is $416.71. The stock has a market capitalization of $102.19 billion, a price-to-earnings ratio of 35.57, a P/E/G ratio of 2.41 and a beta of 1.21.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Thursday, January 29th. The company reported $2.86 EPS for the quarter, topping the consensus estimate of $2.81 by $0.05. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The company had revenue of $5.14 billion during the quarter, compared to analyst estimates of $5.09 billion. During the same quarter last year, the business posted $2.61 earnings per share. The firm’s revenue was up 5.6% on a year-over-year basis. On average, equities research analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 6th will be issued a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, March 6th. This is a boost from Trane Technologies’s previous quarterly dividend of $0.94. Trane Technologies’s payout ratio is currently 28.97%.

Insider Buying and Selling

In other Trane Technologies news, CEO David S. Regnery sold 5,588 shares of Trane Technologies stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $462.60, for a total transaction of $2,585,008.80. Following the completion of the transaction, the chief executive officer directly owned 96,948 shares of the company’s stock, valued at $44,848,144.80. The trade was a 5.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Elizabeth A. Elwell sold 137 shares of the business’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $462.48, for a total transaction of $63,359.76. Following the transaction, the chief accounting officer owned 7,100 shares in the company, valued at $3,283,608. This trade represents a 1.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 8,936 shares of company stock valued at $4,133,991 in the last three months. Corporate insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of Trane Technologies from $505.00 to $507.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Royal Bank Of Canada lifted their price target on shares of Trane Technologies from $469.00 to $470.00 and gave the company a “sector perform” rating in a report on Friday, January 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a report on Wednesday, January 21st. Melius Research upgraded Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price objective for the company in a research report on Wednesday, January 7th. Finally, UBS Group decreased their target price on Trane Technologies from $544.00 to $520.00 and set a “buy” rating on the stock in a research report on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Trane Technologies has an average rating of “Moderate Buy” and a consensus target price of $484.67.

Trane Technologies 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.