Anchor Capital Advisors LLC Sells 15,071 Shares of Trane Technologies plc (NYSE:TT)

Anchor Capital Advisors LLC lowered its stake in Trane Technologies plc (NYSE:TT) by 5.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 247,268 shares of the company’s stock after selling 15,071 shares during the period. Trane Technologies makes up 1.6% of Anchor Capital Advisors LLC’s portfolio, making the stock its 18th largest holding. Anchor Capital Advisors LLC owned 0.11% of Trane Technologies worth $60,309,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. BKM Wealth Management LLC acquired a new position in Trane Technologies during the 4th quarter worth approximately $25,000. Venturi Wealth Management LLC raised its position in shares of Trane Technologies by 139.7% during the third quarter. Venturi Wealth Management LLC now owns 151 shares of the company’s stock worth $31,000 after purchasing an additional 88 shares during the period. Ancora Advisors LLC bought a new position in shares of Trane Technologies in the 3rd quarter worth $40,000. Rosenberg Matthew Hamilton grew its position in Trane Technologies by 27.2% in the 4th quarter. Rosenberg Matthew Hamilton now owns 192 shares of the company’s stock valued at $47,000 after purchasing an additional 41 shares during the period. Finally, Operose Advisors LLC acquired a new position in Trane Technologies during the third quarter worth $53,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on TT. The Goldman Sachs Group raised their price target on shares of Trane Technologies from $253.00 to $287.00 and gave the company a “neutral” rating in a research report on Monday, February 5th. Royal Bank of Canada lifted their target price on Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a research report on Friday, February 2nd. Citigroup raised their price objective on Trane Technologies from $309.00 to $355.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Stephens upped their price objective on shares of Trane Technologies from $235.00 to $280.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 6th. Finally, Barclays boosted 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. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $251.83.

Trane Technologies Price Performance

NYSE:TT traded down $3.67 during trading hours on Monday, hitting $300.86. The stock had a trading volume of 1,878,048 shares, compared to its average volume of 1,009,652. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.13 and a quick ratio of 0.78. Trane Technologies plc has a one year low of $162.04 and a one year high of $307.95. The firm has a market capitalization of $68.32 billion, a price-to-earnings ratio of 34.65, a P/E/G ratio of 2.57 and a beta of 1.05. The company has a 50 day simple moving average of $292.22 and a two-hundred day simple moving average of $254.87.

Trane Technologies (NYSE:TT) last released its earnings results 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. The company had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.43 billion. Trane Technologies had a return on equity of 32.01% and a net margin of 11.45%. Trane Technologies’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.82 EPS. Research analysts forecast that Trane Technologies plc will post 10.2 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 1.12%. The ex-dividend date is Thursday, June 6th. Trane Technologies’s dividend payout ratio is presently 38.23%.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, EVP Paul A. Camuti sold 508 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $273.34, for a total value of $138,856.72. Following the transaction, the executive vice president now owns 89,447 shares in the company, valued at $24,449,442.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Paul A. Camuti sold 508 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $273.34, for a total value of $138,856.72. Following the completion of the transaction, the executive vice president now owns 89,447 shares of the company’s stock, valued at approximately $24,449,442.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Keith A. Sultana sold 1,637 shares of Trane Technologies stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $267.74, for a total value of $438,290.38. Following the sale, the senior vice president now owns 42,374 shares in the company, valued at $11,345,214.76. The disclosure for this sale can be found here. Insiders sold a total of 29,874 shares of company stock worth $8,462,825 over the last three months. Company insiders own 0.39% of the company’s stock.

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.