Twin Capital Management Inc. Lowers Position in Trane Technologies plc (NYSE:TT)

Twin Capital Management Inc. decreased its position in shares of Trane Technologies plc (NYSE:TT) by 1.7% during the fourth quarter, HoldingsChannel reports. The firm owned 6,993 shares of the company’s stock after selling 121 shares during the period. Twin Capital Management Inc.’s holdings in Trane Technologies were worth $1,706,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP raised its position in Trane Technologies by 36.4% during the third quarter. Wellington Management Group LLP now owns 1,639,058 shares of the company’s stock valued at $332,581,000 after purchasing an additional 436,997 shares in the last quarter. CHICAGO TRUST Co NA grew its stake in shares of Trane Technologies by 2.1% during the fourth quarter. CHICAGO TRUST Co NA now owns 3,136 shares of the company’s stock valued at $765,000 after buying an additional 64 shares during the last quarter. Wealth Effects LLC bought a new position in shares of Trane Technologies during the fourth quarter valued at about $239,000. Graypoint LLC grew its stake in shares of Trane Technologies by 46.0% during the third quarter. Graypoint LLC now owns 2,043 shares of the company’s stock valued at $414,000 after buying an additional 644 shares during the last quarter. Finally, Invera Wealth Advisors LLC bought a new position in shares of Trane Technologies during the fourth quarter valued at about $4,097,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insiders Place Their Bets

In other Trane Technologies news, CFO Christopher J. Kuehn sold 3,762 shares of Trane Technologies stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $286.48, for a total value of $1,077,737.76. Following the completion of the sale, the chief financial officer now owns 61,691 shares of the company’s stock, valued at approximately $17,673,237.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CFO Christopher J. Kuehn sold 3,762 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $286.48, for a total transaction of $1,077,737.76. Following the completion of the sale, the chief financial officer now owns 61,691 shares of the company’s stock, valued at approximately $17,673,237.68. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Evan M. Turtz sold 2,821 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $288.33, for a total transaction of $813,378.93. Following the sale, the senior vice president now directly owns 20,729 shares of the company’s stock, valued at approximately $5,976,792.57. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,874 shares of company stock valued at $8,462,825. Company insiders own 0.39% of the company’s stock.

Trane Technologies Price Performance

Shares of NYSE TT opened at $289.39 on Friday. Trane Technologies plc has a twelve month low of $162.04 and a twelve month high of $306.98. The firm has a market cap of $65.71 billion, a P/E ratio of 32.92, a PEG ratio of 2.47 and a beta of 1.05. The company has a 50 day moving average of $289.41 and a 200 day moving average of $250.29. The company has a quick ratio of 0.78, a current ratio of 1.13 and a debt-to-equity ratio of 0.57.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Thursday, February 1st. The company reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates of $2.13 by $0.04. Trane Technologies had a net margin of 11.45% and a return on equity of 32.01%. The company had revenue of $4.42 billion during the quarter, compared to analyst estimates of $4.43 billion. During the same period in the previous year, the business earned $1.82 EPS. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, research analysts expect that Trane Technologies plc will post 10.2 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend is Thursday, June 6th. Trane Technologies’s dividend payout ratio (DPR) is presently 38.23%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on TT shares. Royal Bank of Canada raised their price objective on Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a research note on Friday, February 2nd. Barclays raised their target price on Trane Technologies from $286.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Stephens lifted their price objective on Trane Technologies from $235.00 to $280.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. Citigroup lifted their target price on shares of Trane Technologies from $309.00 to $355.00 and gave the company a “buy” rating in a report on Monday, April 8th. Finally, The Goldman Sachs Group lifted their target price on shares of Trane Technologies from $253.00 to $287.00 and gave the company a “neutral” rating in a report on Monday, February 5th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Trane Technologies currently has a consensus rating of “Hold” and a consensus price target of $251.83.

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.