Hardy Reed LLC Decreases Stock Holdings in Trane Technologies plc $TT

Hardy Reed LLC reduced its position in shares of Trane Technologies plc (NYSE:TT) by 19.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,604 shares of the company’s stock after selling 2,075 shares during the period. Hardy Reed LLC’s holdings in Trane Technologies were worth $3,631,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC grew its position in shares of Trane Technologies by 60.0% in the 4th quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock worth $2,288,000 after buying an additional 2,323 shares during the last quarter. Sivia Capital Partners LLC boosted its holdings in Trane Technologies by 22.4% in the second quarter. Sivia Capital Partners LLC now owns 1,665 shares of the company’s stock valued at $728,000 after acquiring an additional 305 shares in the last quarter. RFG Advisory LLC increased its position in Trane Technologies by 16.2% during the 2nd quarter. RFG Advisory LLC now owns 876 shares of the company’s stock valued at $383,000 after purchasing an additional 122 shares during the period. Harbour Investments Inc. raised its holdings in Trane Technologies by 5.8% in the 2nd quarter. Harbour Investments Inc. now owns 1,194 shares of the company’s stock worth $522,000 after purchasing an additional 65 shares in the last quarter. Finally, Ritholtz Wealth Management lifted its position in shares of Trane Technologies by 56.6% in the 2nd quarter. Ritholtz Wealth Management now owns 2,338 shares of the company’s stock worth $1,023,000 after purchasing an additional 845 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on TT. Barclays boosted their price target on shares of Trane Technologies from $505.00 to $507.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Oppenheimer raised their target price on Trane Technologies from $460.00 to $468.00 and gave the company an “outperform” rating in a research note on Friday, January 30th. Citigroup upped their price target on Trane Technologies from $513.00 to $525.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. KeyCorp raised Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 price objective for the company in a research report on Monday, December 15th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Trane Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $484.67.

Trane Technologies Stock Up 1.0%

NYSE:TT opened at $465.04 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.25. The firm has a market cap of $102.93 billion, a P/E ratio of 35.83, a P/E/G ratio of 2.45 and a beta of 1.21. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $479.37. The firm has a 50-day simple moving average of $403.90 and a two-hundred day simple moving average of $414.44.

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

Trane Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors 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 0.9%. This is a boost from Trane Technologies’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Friday, March 6th. Trane Technologies’s payout ratio is 32.36%.

Insiders Place Their Bets

In other news, CEO David S. Regnery sold 5,588 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $462.60, for a total transaction of $2,585,008.80. Following the completion of the transaction, the chief executive officer directly owned 96,948 shares of the company’s stock, valued at $44,848,144.80. The trade was a 5.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Elizabeth A. Elwell sold 137 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $462.48, for a total transaction of $63,359.76. Following the completion of the sale, 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 SEC filing for this sale provides additional information. Insiders have sold a total of 8,936 shares of company stock valued at $4,133,991 over the last quarter. Corporate insiders own 0.14% of the company’s stock.

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.