Calamos Advisors LLC Sells 261 Shares of Trane Technologies plc (NYSE:TT)

Calamos Advisors LLC cut its holdings in Trane Technologies plc (NYSE:TT) by 5.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,838 shares of the company’s stock after selling 261 shares during the period. Calamos Advisors LLC’s holdings in Trane Technologies were worth $1,180,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Keel Point LLC grew its stake in shares of Trane Technologies by 3.0% in the 4th quarter. Keel Point LLC now owns 1,326 shares of the company’s stock worth $323,000 after buying an additional 39 shares in the last quarter. Rosenberg Matthew Hamilton increased its stake in Trane Technologies by 27.2% during the fourth quarter. Rosenberg Matthew Hamilton now owns 192 shares of the company’s stock worth $47,000 after acquiring an additional 41 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Trane Technologies by 2.3% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,847 shares of the company’s stock worth $450,000 after purchasing an additional 42 shares during the period. Cedrus LLC raised its holdings in Trane Technologies by 2.6% during the 4th quarter. Cedrus LLC now owns 1,669 shares of the company’s stock valued at $407,000 after buying an additional 43 shares during the period. Finally, Certuity LLC boosted its stake in Trane Technologies by 3.1% during the third quarter. Certuity LLC now owns 1,549 shares of the company’s stock worth $314,000 after buying an additional 46 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling

In other Trane Technologies news, EVP Paul A. Camuti sold 508 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $273.34, for a total value of $138,856.72. Following the completion of the transaction, the executive vice president now directly owns 89,447 shares in the company, valued at $24,449,442.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Trane Technologies news, EVP Paul A. Camuti sold 508 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $273.34, for a total value of $138,856.72. Following the completion of the sale, the executive vice president now directly owns 89,447 shares in the company, valued at $24,449,442.98. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO David S. Regnery sold 6,990 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $286.19, for a total value of $2,000,468.10. Following the transaction, the chief executive officer now directly owns 113,874 shares in the company, valued at $32,589,600.06. The disclosure for this sale can be found here. Insiders sold 29,874 shares of company stock worth $8,462,825 in the last three months. 0.39% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on TT. The Goldman Sachs Group raised their target price on shares of Trane Technologies from $253.00 to $287.00 and gave the stock a “neutral” rating in a report on Monday, February 5th. Barclays upped their target price on Trane Technologies from $286.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Citigroup boosted their price objective on Trane Technologies from $309.00 to $355.00 and gave the company a “buy” rating in a report on Monday, April 8th. Stephens lifted their target price on Trane Technologies from $235.00 to $280.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 6th. Finally, Royal Bank of Canada upped their price target on shares of Trane Technologies from $231.00 to $246.00 and gave the stock a “sector perform” rating in a report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $251.83.

Trane Technologies Stock Performance

TT stock opened at $288.27 on Monday. Trane Technologies plc has a 1-year low of $162.04 and a 1-year high of $306.98. The business has a 50-day moving average price of $289.67 and a 200 day moving average price of $251.65. The company has a market capitalization of $65.46 billion, a P/E ratio of 32.80, a PEG ratio of 2.43 and a beta of 1.05. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.13 and a quick ratio of 0.78.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Thursday, February 1st. The company reported $2.17 EPS for the quarter, beating the consensus estimate of $2.13 by $0.04. Trane Technologies had a net margin of 11.45% and a return on equity of 32.01%. The business had revenue of $4.42 billion during the quarter, compared to analyst estimates of $4.43 billion. During the same quarter in the previous year, the business posted $1.82 EPS. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, equities research analysts forecast that Trane Technologies plc will post 10.2 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a $0.84 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.17%. Trane Technologies’s dividend payout ratio is presently 38.23%.

About Trane Technologies

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.