Figure 8 Investment Strategies LLC Reduces Stock Holdings in Trane Technologies plc $TT

Figure 8 Investment Strategies LLC trimmed its holdings in shares of Trane Technologies plc (NYSE:TT) by 18.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,465 shares of the company’s stock after selling 1,943 shares during the quarter. Trane Technologies accounts for about 2.9% of Figure 8 Investment Strategies LLC’s holdings, making the stock its 6th largest position. Figure 8 Investment Strategies LLC’s holdings in Trane Technologies were worth $3,295,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Financial Consulate Inc. bought a new stake in shares of Trane Technologies during the 3rd quarter worth $25,000. United Community Bank increased its holdings in Trane Technologies by 134.4% during the third quarter. United Community Bank now owns 75 shares of the company’s stock worth $32,000 after buying an additional 43 shares during the last quarter. JPL Wealth Management LLC bought a new stake in Trane Technologies in the third quarter worth about $32,000. Halbert Hargrove Global Advisors LLC boosted its stake in Trane Technologies by 34.2% in the third quarter. Halbert Hargrove Global Advisors LLC now owns 102 shares of the company’s stock valued at $43,000 after acquiring an additional 26 shares during the last quarter. Finally, KERR FINANCIAL PLANNING Corp bought a new position in shares of Trane Technologies during the 3rd quarter valued at approximately $42,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Up 0.1%

Shares of NYSE TT opened at $427.43 on Monday. 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 $94.60 billion, a P/E ratio of 32.93, a P/E/G ratio of 2.25 and a beta of 1.21. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $479.37. The business has a 50-day simple moving average of $436.76 and a two-hundred day simple moving average of $418.24.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $5.09 billion. During the same period in the prior year, the firm posted $2.61 earnings per share. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. Research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be given a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, June 5th. Trane Technologies’s payout ratio is 32.36%.

Insider Activity

In related news, CEO David S. Regnery sold 36,045 shares of the stock in a transaction on Friday, March 6th. The stock was sold at an average price of $422.69, for a total value of $15,235,861.05. Following the sale, the chief executive officer owned 96,948 shares in the company, valued at approximately $40,978,950.12. This trade represents a 27.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Christopher J. Kuehn sold 2,389 shares of the business’s stock in a transaction dated 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 owned 60,486 shares of the company’s stock, valued at approximately $27,986,872.20. The trade was a 3.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 49,378 shares of company stock worth $21,228,464. Company insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on TT. Citigroup lifted their price target on shares of Trane Technologies from $513.00 to $525.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Barclays raised their target price on Trane Technologies from $505.00 to $507.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Royal Bank Of Canada upped their price target on Trane Technologies from $469.00 to $470.00 and gave the company a “sector perform” rating in a research report on Friday, January 30th. KeyCorp upgraded Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 price target for the company in a research note on Monday, December 15th. Finally, JPMorgan Chase & Co. lifted their price objective on Trane Technologies from $434.00 to $460.00 and gave the stock a “neutral” rating in a report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $484.67.

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.