Sandhill Capital Partners LLC Has $40.95 Million Holdings in Trane Technologies plc $TT

Sandhill Capital Partners LLC boosted its position in shares of Trane Technologies plc (NYSE:TT) by 1.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,046 shares of the company’s stock after purchasing an additional 1,297 shares during the period. Trane Technologies comprises 2.9% of Sandhill Capital Partners LLC’s holdings, making the stock its 17th largest position. Sandhill Capital Partners LLC’s holdings in Trane Technologies were worth $40,950,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Financial Consulate Inc. bought a new stake in shares of Trane Technologies in the third quarter valued at about $25,000. Icon Advisers Inc. Co. bought a new position in shares of Trane Technologies during the second quarter worth about $26,000. United Community Bank raised its position in Trane Technologies by 134.4% in the 3rd quarter. United Community Bank now owns 75 shares of the company’s stock valued at $32,000 after buying an additional 43 shares during the last quarter. Halbert Hargrove Global Advisors LLC raised its position in Trane Technologies by 34.2% in the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 102 shares of the company’s stock valued at $43,000 after buying an additional 26 shares during the last quarter. Finally, Hantz Financial Services Inc. lifted its stake in Trane Technologies by 58.2% in the 3rd quarter. Hantz Financial Services Inc. now owns 106 shares of the company’s stock valued at $45,000 after acquiring an additional 39 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity

In related news, CAO Elizabeth A. Elwell sold 137 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $462.48, for a total value of $63,359.76. Following the completion of the sale, the chief accounting officer directly owned 7,100 shares in the company, valued at approximately $3,283,608. This trade represents a 1.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Donald E. Simmons sold 822 shares of Trane Technologies stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $462.57, for a total value of $380,232.54. Following the transaction, the insider owned 3,819 shares of the company’s stock, valued at $1,766,554.83. The trade was a 17.71% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 8,936 shares of company stock worth $4,133,991. Insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on TT shares. Bank of America raised Trane Technologies from a “neutral” rating to a “buy” rating and upped their price target for the stock from $490.00 to $550.00 in a research report on Thursday, November 13th. Oppenheimer boosted their price objective on shares of Trane Technologies from $460.00 to $468.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. UBS Group reduced their target price on shares of Trane Technologies from $544.00 to $520.00 and set a “buy” rating for the company in a report on Monday, January 5th. JPMorgan Chase & Co. raised their target price on shares of Trane Technologies from $434.00 to $460.00 and gave the company a “neutral” rating in a research report on Friday, January 30th. Finally, Barclays lifted their price target on shares of Trane Technologies from $505.00 to $507.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. One equities 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 stock. Based on data from MarketBeat, Trane Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $484.67.

Trane Technologies Stock Down 3.1%

NYSE:TT opened at $423.04 on Monday. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $479.37. The firm has a market capitalization of $93.63 billion, a price-to-earnings ratio of 32.59, a price-to-earnings-growth ratio of 2.23 and a beta of 1.19. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. The stock’s 50 day moving average price is $422.75 and its two-hundred day moving average price is $416.99.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Thursday, January 29th. The company reported $2.86 EPS for the quarter, beating 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 the consensus estimate of $5.09 billion. During the same quarter in the prior year, the firm posted $2.61 EPS. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. Equities research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders 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 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Friday, March 6th. Trane Technologies’s dividend payout ratio is 32.36%.

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.