Hilltop Holdings Inc. Cuts Stock Holdings in Trane Technologies plc $TT

Hilltop Holdings Inc. reduced its position in Trane Technologies plc (NYSE:TT) by 65.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 686 shares of the company’s stock after selling 1,318 shares during the period. Hilltop Holdings Inc.’s holdings in Trane Technologies were worth $286,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tucker Asset Management LLC acquired a new position in shares of Trane Technologies in the fourth quarter worth about $25,000. Wilkerson Advisory Group LLC grew its position in shares of Trane Technologies by 136.0% during the 1st quarter. Wilkerson Advisory Group LLC now owns 59 shares of the company’s stock valued at $25,000 after acquiring an additional 34 shares during the period. Hilton Head Capital Partners LLC purchased a new position in shares of Trane Technologies in the 4th quarter valued at about $32,000. JPL Wealth Management LLC acquired a new position in Trane Technologies in the 3rd quarter worth about $32,000. Finally, Physician Wealth Advisors Inc. raised its holdings in Trane Technologies by 192.6% in the 1st quarter. Physician Wealth Advisors Inc. now owns 79 shares of the company’s stock worth $33,000 after purchasing an additional 52 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Trading Down 2.6%

TT stock opened at $470.66 on Wednesday. Trane Technologies plc has a 12-month low of $348.06 and a 12-month high of $505.87. The business’s 50-day moving average is $471.04 and its 200 day moving average is $451.67. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. The stock has a market cap of $104.04 billion, a price-to-earnings ratio of 36.40, a PEG ratio of 2.22 and a beta of 1.19.

Trane Technologies (NYSE:TT) last released its earnings results on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.10. The business had revenue of $4.97 billion for the quarter, compared to the consensus estimate of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.45 earnings per share. On average, sell-side analysts anticipate that Trane Technologies plc will post 14.89 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be paid a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, September 4th. Trane Technologies’s dividend payout ratio is currently 32.48%.

Analyst Ratings Changes

TT has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their price objective on Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. BNP Paribas Exane initiated coverage on Trane Technologies in a research note on Tuesday, April 14th. They set an “outperform” rating and a $550.00 target price for the company. Sanford C. Bernstein set a $555.00 target price on Trane Technologies in a research report on Thursday, July 9th. KeyCorp lifted their price target on shares of Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Finally, Evercore assumed coverage on shares of Trane Technologies in a report on Monday, April 13th. They issued an “outperform” rating and a $535.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $516.67.

Insiders Place Their Bets

In other Trane Technologies news, insider Donald E. Simmons sold 4,593 shares of Trane Technologies stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the sale, the insider owned 3,819 shares of the company’s stock, valued at $1,909,500. The trade was a 54.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.43% of the company’s stock.

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.