KCM Investment Advisors LLC Cuts Holdings in Trane Technologies plc $TT

KCM Investment Advisors LLC trimmed its holdings in shares of Trane Technologies plc (NYSE:TT) by 1.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 96,700 shares of the company’s stock after selling 1,133 shares during the period. Trane Technologies comprises 1.2% of KCM Investment Advisors LLC’s investment portfolio, making the stock its 24th biggest holding. KCM Investment Advisors LLC’s holdings in Trane Technologies were worth $37,636,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Trane Technologies by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 20,020,321 shares of the company’s stock valued at $7,791,909,000 after purchasing an additional 192,270 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Trane Technologies by 10.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company’s stock valued at $6,550,975,000 after purchasing an additional 1,433,563 shares in the last quarter. State Street Corp increased its stake in Trane Technologies by 0.6% in the 4th quarter. State Street Corp now owns 10,113,123 shares of the company’s stock valued at $3,936,034,000 after purchasing an additional 61,393 shares in the last quarter. Geode Capital Management LLC increased its stake in Trane Technologies by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 5,071,072 shares of the company’s stock valued at $1,964,896,000 after purchasing an additional 14,179 shares in the last quarter. Finally, Norges Bank purchased a new position in Trane Technologies in the 4th quarter valued at approximately $1,163,124,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 8,619 shares of the firm’s stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total transaction of $3,878,550.00. Following the sale, the chief financial officer owned 60,576 shares in the company, valued at $27,259,200. This trade represents a 12.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald E. Simmons sold 4,593 shares of the firm’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total value of $2,296,500.00. Following the sale, the insider owned 3,819 shares in the company, valued at $1,909,500. This trade represents a 54.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.43% of the company’s stock.

Trane Technologies Stock Performance

Trane Technologies stock opened at $457.69 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10. The stock has a fifty day moving average of $463.44 and a two-hundred day moving average of $433.14. The company has a market capitalization of $101.17 billion, a price-to-earnings ratio of 35.40, a PEG ratio of 2.11 and a beta of 1.20. Trane Technologies plc has a fifty-two week low of $348.06 and a fifty-two week high of $503.47.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.10. The company had revenue of $4.97 billion during the quarter, compared to the consensus estimate 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 was up 6.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.45 earnings per share. On average, analysts anticipate that Trane Technologies plc will post 14.88 EPS 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. Shareholders of record on Friday, September 4th will be given a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $4.20 annualized dividend and a yield of 0.9%. Trane Technologies’s dividend payout ratio (DPR) is presently 32.48%.

Analyst Upgrades and Downgrades

TT has been the subject of several research analyst reports. BNP Paribas Exane initiated coverage on Trane Technologies in a research note on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 price objective for the company. Citigroup raised their price objective on Trane Technologies from $525.00 to $570.00 and gave the company a “buy” rating in a research note on Friday, May 1st. KeyCorp raised their price objective on Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. JPMorgan Chase & Co. raised their price objective on Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Finally, Sanford C. Bernstein assumed coverage on Trane Technologies in a research report on Tuesday. They set an “outperform” rating and a $550.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Trane Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $509.12.

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.