Cullen Investment Group LTD. Sells 5,616 Shares of Trane Technologies plc $TT

Cullen Investment Group LTD. trimmed its holdings in shares of Trane Technologies plc (NYSE:TT) by 21.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 20,430 shares of the company’s stock after selling 5,616 shares during the period. Trane Technologies makes up about 1.0% of Cullen Investment Group LTD.’s investment portfolio, making the stock its 26th biggest position. Cullen Investment Group LTD.’s holdings in Trane Technologies were worth $7,798,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Icon Advisers Inc. Co. bought a new position in Trane Technologies during the second quarter worth about $26,000. Financial Consulate Inc. bought a new stake in shares of Trane Technologies in the 3rd quarter valued at approximately $25,000. United Community Bank raised its holdings in shares of Trane Technologies by 134.4% in the 3rd quarter. United Community Bank now owns 75 shares of the company’s stock worth $32,000 after buying an additional 43 shares in the last quarter. JPL Wealth Management LLC bought a new position in shares of Trane Technologies during the 3rd quarter worth approximately $32,000. Finally, Halbert Hargrove Global Advisors LLC boosted its stake in Trane Technologies by 34.2% in the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 102 shares of the company’s stock valued at $43,000 after buying an additional 26 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Trane Technologies

In other Trane Technologies news, CFO Christopher J. Kuehn sold 2,389 shares of the stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $462.70, for a total value of $1,105,390.30. Following the transaction, the chief financial officer directly owned 60,486 shares in the company, valued at approximately $27,986,872.20. This trade represents a 3.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Elizabeth A. Elwell sold 635 shares of Trane Technologies stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $422.70, for a total value of $268,414.50. Following the completion of the sale, the chief accounting officer owned 7,100 shares of the company’s stock, valued at approximately $3,001,170. The trade was a 8.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 49,378 shares of company stock worth $21,228,464 in the last quarter. 0.14% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on TT. Citigroup increased their price objective on Trane Technologies from $513.00 to $525.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. JPMorgan Chase & Co. boosted their target price on shares of Trane Technologies from $434.00 to $460.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. UBS Group lowered their target price on shares of Trane Technologies from $544.00 to $520.00 and set a “buy” rating on the stock in a report on Monday, January 5th. Barclays increased their target price on shares of Trane Technologies from $505.00 to $507.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a research report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $484.67.

Trane Technologies Stock Up 1.0%

Shares of NYSE TT opened at $434.47 on Thursday. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $479.37. The firm’s 50-day simple moving average is $432.81 and its 200 day simple moving average is $417.68. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. The company has a market cap of $96.16 billion, a price-to-earnings ratio of 33.47, a price-to-earnings-growth ratio of 2.26 and a beta of 1.19.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.05. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The firm had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $5.09 billion. During the same quarter last year, the company posted $2.61 EPS. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. On average, research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The business 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 $1.05 dividend. This is a boost from Trane Technologies’s previous quarterly dividend of $0.94. The ex-dividend date is Friday, March 6th. This represents a $4.20 annualized dividend and a yield of 1.0%. Trane Technologies’s dividend payout ratio is presently 32.36%.

Trane Technologies Company 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.