Silvant Capital Management LLC Has $7.34 Million Stock Position in Trane Technologies plc $TT

Silvant Capital Management LLC lowered its position in Trane Technologies plc (NYSE:TT) by 6.8% during the 3rd quarter, Holdings Channel reports. The fund owned 17,405 shares of the company’s stock after selling 1,274 shares during the period. Silvant Capital Management LLC’s holdings in Trane Technologies were worth $7,344,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in TT. Brighton Jones LLC grew its position in Trane Technologies by 60.0% in the 4th quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock valued at $2,288,000 after purchasing an additional 2,323 shares during the period. Sivia Capital Partners LLC grew its holdings in shares of Trane Technologies by 22.4% during the second quarter. Sivia Capital Partners LLC now owns 1,665 shares of the company’s stock valued at $728,000 after buying an additional 305 shares during the last quarter. Schnieders Capital Management LLC. bought a new stake in shares of Trane Technologies during the second quarter worth about $227,000. Penserra Capital Management LLC increased its position in shares of Trane Technologies by 39.9% during the second quarter. Penserra Capital Management LLC now owns 1,542 shares of the company’s stock worth $673,000 after acquiring an additional 440 shares in the last quarter. Finally, AE Wealth Management LLC raised its holdings in shares of Trane Technologies by 33.3% in the 2nd quarter. AE Wealth Management LLC now owns 2,808 shares of the company’s stock worth $1,228,000 after acquiring an additional 701 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Royal Bank Of Canada lifted their price target on Trane Technologies from $469.00 to $470.00 and gave the company a “sector perform” rating in a research note on Friday, January 30th. JPMorgan Chase & Co. increased their price objective on Trane Technologies from $434.00 to $460.00 and gave the stock a “neutral” rating in a research note on Friday, January 30th. Wells Fargo & Company raised their target price on Trane Technologies from $375.00 to $400.00 and gave the company an “underweight” rating in a report on Friday, January 30th. Melius Research upgraded Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price target for the company in a report on Wednesday, January 7th. Finally, KeyCorp raised Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 price target for the company in a research report on Monday, December 15th. 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 issued a Sell rating to the stock. According to MarketBeat.com, Trane Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $484.67.

Insider Transactions at Trane Technologies

In related news, CAO Elizabeth A. Elwell sold 635 shares of the business’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $422.70, for a total value of $268,414.50. Following the sale, the chief accounting officer directly owned 7,100 shares in the company, valued at approximately $3,001,170. The trade was a 8.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO David S. Regnery sold 36,045 shares of Trane Technologies stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $422.69, for a total transaction of $15,235,861.05. Following the completion of the transaction, the chief executive officer owned 96,948 shares of the company’s stock, valued at $40,978,950.12. The trade was a 27.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 49,378 shares of company stock worth $21,228,464 over the last quarter. 0.14% of the stock is currently owned by corporate insiders.

Trane Technologies Stock Performance

NYSE TT opened at $433.46 on Wednesday. The company has a market capitalization of $95.94 billion, a PE ratio of 33.39, a price-to-earnings-growth ratio of 2.25 and a beta of 1.19. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.25. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $479.37. The company has a 50-day simple moving average of $424.27 and a 200 day simple moving average of $417.09.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Thursday, January 29th. The company reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.81 by $0.05. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The company had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $5.09 billion. During the same quarter in the previous year, the firm posted $2.61 EPS. Trane Technologies’s revenue was up 5.6% on a year-over-year basis. On average, research analysts predict that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be paid a $1.05 dividend. The ex-dividend date is Friday, March 6th. This is a boost from Trane Technologies’s previous quarterly dividend of $0.94. This represents a $4.20 annualized dividend and a dividend yield of 1.0%. Trane Technologies’s dividend payout ratio is presently 32.36%.

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.