Trane Technologies plc (NYSE:TT) Shares Sold by Peddock Capital Advisors LLC

Peddock Capital Advisors LLC cut its holdings in shares of Trane Technologies plc (NYSE:TT) by 1.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,707 shares of the company’s stock after selling 41 shares during the quarter. Peddock Capital Advisors LLC’s holdings in Trane Technologies were worth $904,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its holdings in shares of Trane Technologies by 24,670.7% in the 4th quarter. International Assets Investment Management LLC now owns 1,034,423 shares of the company’s stock valued at $252,296,000 after purchasing an additional 1,030,247 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Trane Technologies by 5.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,085,662 shares of the company’s stock worth $3,466,852,000 after acquiring an additional 880,583 shares in the last quarter. FMR LLC lifted its stake in Trane Technologies by 12.4% during the third quarter. FMR LLC now owns 5,743,154 shares of the company’s stock worth $1,165,343,000 after purchasing an additional 632,598 shares during the last quarter. Wellington Management Group LLP increased its stake in Trane Technologies by 36.4% in 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 during the last quarter. Finally, Alphinity Investment Management Pty Ltd raised its holdings in Trane Technologies by 31.4% during the third quarter. Alphinity Investment Management Pty Ltd now owns 1,812,549 shares of the company’s stock worth $367,784,000 after purchasing an additional 433,388 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, SVP Evan M. Turtz sold 2,821 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $288.33, for a total transaction of $813,378.93. Following the sale, the senior vice president now owns 20,729 shares in the company, valued at approximately $5,976,792.57. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, SVP Evan M. Turtz sold 2,821 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 20,729 shares of the company’s stock, valued at $5,976,792.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David S. Regnery sold 6,990 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $286.19, for a total value of $2,000,468.10. Following the completion of the transaction, the chief executive officer now owns 113,874 shares of the company’s stock, valued at $32,589,600.06. The disclosure for this sale can be found here. In the last three months, insiders sold 28,237 shares of company stock worth $8,024,534. 0.39% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

TT has been the topic of several research analyst reports. Mizuho lifted their price target on shares of Trane Technologies from $280.00 to $325.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. The Goldman Sachs Group raised their price target on Trane Technologies from $287.00 to $326.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Stephens boosted their price objective on Trane Technologies from $310.00 to $320.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 1st. Citigroup lifted their target price on shares of Trane Technologies from $355.00 to $366.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, Barclays raised their price objective on shares of Trane Technologies from $286.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $300.54.

Trane Technologies Price Performance

Trane Technologies stock traded up $1.13 during midday trading on Wednesday, reaching $327.02. The company’s stock had a trading volume of 367,003 shares, compared to its average volume of 1,019,267. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.74 and a current ratio of 1.13. Trane Technologies plc has a fifty-two week low of $162.04 and a fifty-two week high of $329.14. The firm has a market capitalization of $74.02 billion, a PE ratio of 35.04, a P/E/G ratio of 2.54 and a beta of 1.01. The stock’s 50 day simple moving average is $296.65 and its 200 day simple moving average is $259.66.

Trane Technologies (NYSE:TT) last issued its earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.30. The company had revenue of $4.22 billion for the quarter, compared to analyst estimates of $3.99 billion. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.41 earnings per share. On average, equities research analysts forecast that Trane Technologies plc will post 10.48 earnings per share for the current year.

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a $0.84 dividend. The ex-dividend date is Thursday, June 6th. This represents a $3.36 annualized dividend and a dividend yield of 1.03%. Trane Technologies’s dividend payout ratio is presently 35.90%.

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.