Cornerstone Advisors LLC Decreases Stake in Trane Technologies plc $TT

Cornerstone Advisors LLC cut its stake in Trane Technologies plc (NYSE:TT) by 28.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,200 shares of the company’s stock after selling 2,900 shares during the period. Cornerstone Advisors LLC’s holdings in Trane Technologies were worth $3,038,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in TT. Financial Consulate Inc. acquired a new stake in Trane Technologies during the third quarter worth $25,000. Icon Advisers Inc. Co. acquired a new stake in shares of Trane Technologies during the second quarter worth about $26,000. Hantz Financial Services Inc. boosted its position in Trane Technologies by 1,016.7% in the 2nd quarter. Hantz Financial Services Inc. now owns 67 shares of the company’s stock valued at $29,000 after buying an additional 61 shares during the period. United Community Bank boosted its holdings in Trane Technologies by 134.4% in the third quarter. United Community Bank now owns 75 shares of the company’s stock valued at $32,000 after purchasing an additional 43 shares during the period. Finally, Halbert Hargrove Global Advisors LLC boosted its stake in shares of 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 period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity at Trane Technologies

In related news, insider Donald E. Simmons sold 822 shares of the stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $462.57, for a total transaction of $380,232.54. Following the sale, the insider owned 3,819 shares of the company’s stock, valued at $1,766,554.83. This represents a 17.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO David S. Regnery sold 5,588 shares of the stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $462.60, for a total transaction of $2,585,008.80. Following the sale, the chief executive officer owned 96,948 shares in the company, valued at $44,848,144.80. The trade was a 5.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 8,936 shares of company stock valued at $4,133,991 in the last ninety days. Company insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on TT shares. UBS Group lowered their price objective on Trane Technologies from $544.00 to $520.00 and set a “buy” rating for the company in a research report on Monday, January 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a research note on Wednesday, January 21st. 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. Bank of America raised shares of Trane Technologies from a “neutral” rating to a “buy” rating and increased their target price for the company from $490.00 to $550.00 in a research report on Thursday, November 13th. Finally, Melius Research upgraded shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price target on the stock in a research note on Wednesday, January 7th. One 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $484.67.

Trane Technologies Price Performance

TT opened at $459.04 on Thursday. The stock has a market cap of $101.60 billion, a P/E ratio of 35.37, a P/E/G ratio of 2.48 and a beta of 1.21. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $479.37. 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 company has a fifty day simple moving average of $407.88 and a 200 day simple moving average of $415.03.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Thursday, January 29th. The company reported $2.86 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $5.09 billion. During the same period in the previous year, the company posted $2.61 earnings per share. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. On average, research analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be given a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Friday, March 6th. Trane Technologies’s dividend payout ratio (DPR) is presently 28.97%.

Trane Technologies Company 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.