Quantbot Technologies LP Trims Stake in Trane Technologies plc $TT

Quantbot Technologies LP lessened its position in Trane Technologies plc (NYSE:TT) by 78.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,598 shares of the company’s stock after selling 5,706 shares during the quarter. Quantbot Technologies LP’s holdings in Trane Technologies were worth $674,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TT. Financial Consulate Inc. bought a new stake in shares of Trane Technologies during the 3rd quarter valued at $25,000. Icon Advisers Inc. Co. bought a new position in shares of Trane Technologies in the 2nd quarter worth about $26,000. United Community Bank lifted its position in Trane Technologies by 134.4% during the 3rd quarter. United Community Bank now owns 75 shares of the company’s stock valued at $32,000 after acquiring an additional 43 shares during the period. Halbert Hargrove Global Advisors LLC boosted its stake in Trane Technologies by 34.2% during the third quarter. Halbert Hargrove Global Advisors LLC now owns 102 shares of the company’s stock worth $43,000 after acquiring an additional 26 shares in the last quarter. Finally, Hantz Financial Services Inc. grew its holdings in Trane Technologies by 58.2% in the third quarter. Hantz Financial Services Inc. now owns 106 shares of the company’s stock worth $45,000 after purchasing an additional 39 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Stock Performance

TT stock opened at $423.04 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.92. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $479.37. The company has a market cap of $93.63 billion, a P/E ratio of 32.59, a price-to-earnings-growth ratio of 2.23 and a beta of 1.19. The stock’s fifty day moving average price is $422.75 and its 200-day moving average price is $417.05.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $5.09 billion. During the same quarter in the prior year, the business earned $2.61 earnings per share. Trane Technologies’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, equities analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be given a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, March 6th. This is an increase from Trane Technologies’s previous quarterly dividend of $0.94. Trane Technologies’s payout ratio is currently 28.97%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a report on Wednesday, January 21st. Melius Research raised Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price objective for the company in a research report on Wednesday, January 7th. Oppenheimer lifted their price objective on Trane Technologies from $460.00 to $468.00 and gave the company an “outperform” rating in a research note on Friday, January 30th. Morgan Stanley dropped their target price on Trane Technologies from $550.00 to $535.00 and set an “overweight” rating on the stock in a report on Tuesday, January 13th. Finally, KeyCorp upgraded Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 price target for the company in a report on Monday, December 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Trane Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $484.67.

Insider Buying and Selling at Trane Technologies

In other news, CAO Elizabeth A. Elwell sold 137 shares of the stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $462.48, for a total value of $63,359.76. Following the transaction, the chief accounting officer owned 7,100 shares in the company, valued at $3,283,608. This represents a 1.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Christopher J. Kuehn sold 2,389 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $462.70, for a total transaction of $1,105,390.30. Following the completion of the transaction, the chief financial officer directly owned 60,486 shares in the company, valued at approximately $27,986,872.20. The trade was a 3.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 8,936 shares of company stock worth $4,133,991 over the last 90 days. 0.14% of the stock is owned by company insiders.

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.