Ossiam Cuts Stake in Trane Technologies plc $TT

Ossiam lessened its stake in shares of Trane Technologies plc (NYSE:TT) by 44.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 69,867 shares of the company’s stock after selling 55,522 shares during the period. Ossiam’s holdings in Trane Technologies were worth $29,481,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Financial Consulate Inc. purchased a new position in shares of Trane Technologies in the third quarter valued at approximately $25,000. Icon Advisers Inc. Co. purchased a new position in Trane Technologies in the 2nd quarter valued at $26,000. United Community Bank boosted its stake in Trane Technologies by 134.4% during the 3rd quarter. United Community Bank now owns 75 shares of the company’s stock worth $32,000 after purchasing an additional 43 shares during the last quarter. Halbert Hargrove Global Advisors LLC grew its holdings in shares of 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 buying an additional 26 shares in the last quarter. Finally, Hantz Financial Services Inc. lifted its stake in shares of 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 buying an additional 39 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Trane Technologies Stock Up 0.2%

TT stock opened at $422.66 on Friday. Trane Technologies plc has a one year low of $298.15 and a one year high of $479.37. The firm has a market cap of $93.55 billion, a PE ratio of 32.56, a PEG ratio of 2.22 and a beta of 1.19. The firm’s 50 day moving average price is $426.27 and its 200-day moving average price is $417.25. 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 (NYSE:TT) last issued its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 36.34% and a net margin of 13.69%.The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.61 earnings per share. On average, equities research analysts anticipate that Trane Technologies plc will post 12.83 EPS 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 issued a dividend of $1.05 per share. The ex-dividend date is Friday, March 6th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.0%. This is a boost from Trane Technologies’s previous quarterly dividend of $0.94. Trane Technologies’s dividend payout ratio (DPR) is currently 32.36%.

Insiders Place Their Bets

In other news, CEO David S. Regnery sold 36,045 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $422.69, for a total value of $15,235,861.05. Following the sale, the chief executive officer directly owned 96,948 shares of the company’s stock, valued at approximately $40,978,950.12. The trade was a 27.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Elizabeth A. Elwell sold 635 shares of the stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $422.70, for a total transaction of $268,414.50. Following the transaction, the chief accounting officer directly owned 7,100 shares of the company’s stock, valued at $3,001,170. The trade was a 8.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 49,378 shares of company stock valued at $21,228,464 over the last 90 days. Company insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on TT shares. Melius Research upgraded shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price objective for the company in a report on Wednesday, January 7th. UBS Group dropped their price target 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. 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 report on Monday, December 15th. Morgan Stanley lowered their price objective on Trane Technologies from $550.00 to $535.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 13th. Finally, Wells Fargo & Company raised their target price on Trane Technologies from $375.00 to $400.00 and gave the stock an “underweight” rating in a research note on Friday, January 30th. One investment 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 issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $484.67.

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.