Clifford Swan Investment Counsel LLC Has $3.03 Million Stake in Trane Technologies plc $TT

Clifford Swan Investment Counsel LLC trimmed its holdings in shares of Trane Technologies plc (NYSE:TT) by 33.7% in the first quarter, HoldingsChannel reports. The institutional investor owned 7,268 shares of the company’s stock after selling 3,699 shares during the quarter. Clifford Swan Investment Counsel LLC’s holdings in Trane Technologies were worth $3,029,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Nordea Investment Management AB increased its holdings in Trane Technologies by 2.9% in the fourth quarter. Nordea Investment Management AB now owns 2,586,506 shares of the company’s stock valued at $1,010,419,000 after purchasing an additional 72,998 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in Trane Technologies by 64.0% in the fourth quarter. Farther Finance Advisors LLC now owns 7,478 shares of the company’s stock valued at $2,911,000 after buying an additional 2,917 shares during the period. Dara Capital US Inc. bought a new position in Trane Technologies during the fourth quarter worth about $966,000. ProCore Advisors LLC bought a new stake in shares of Trane Technologies in the 4th quarter valued at about $939,000. Finally, CGN Advisors LLC bought a new stake in shares of Trane Technologies in the 4th quarter valued at about $1,206,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TT has been the topic of several recent analyst reports. Royal Bank Of Canada lifted their price objective on shares of Trane Technologies from $440.00 to $501.00 and gave the stock a “sector perform” rating in a research note on Friday, May 1st. Sanford C. Bernstein set a $555.00 target price on shares of Trane Technologies in a research note on Thursday, July 9th. KeyCorp increased their target price on shares of Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a research report on Monday, April 20th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $516.67.

Trane Technologies Trading Down 1.1%

NYSE:TT opened at $469.59 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77. The business’s 50-day simple moving average is $469.88 and its 200-day simple moving average is $446.98. Trane Technologies plc has a fifty-two week low of $348.06 and a fifty-two week high of $505.87. The stock has a market capitalization of $103.80 billion, a PE ratio of 36.32, a price-to-earnings-growth ratio of 2.16 and a beta of 1.19.

Trane Technologies (NYSE:TT) last posted its earnings results on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.10. The business had revenue of $4.97 billion during the quarter, compared to analysts’ expectations of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.Trane Technologies’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.45 EPS. Sell-side analysts expect that Trane Technologies plc will post 14.89 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be issued a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, September 4th. Trane Technologies’s dividend payout ratio is 32.48%.

Insider Activity

In related news, insider Donald E. Simmons sold 4,593 shares of the firm’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the sale, the insider directly owned 3,819 shares in the company, valued at $1,909,500. This trade represents a 54.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is owned by corporate insiders.

About Trane Technologies

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.