Assetmark Inc. Sells 5,252 Shares of Trane Technologies plc $TT

Assetmark Inc. cut its holdings in shares of Trane Technologies plc (NYSE:TT) by 24.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,212 shares of the company’s stock after selling 5,252 shares during the period. Assetmark Inc.’s holdings in Trane Technologies were worth $6,841,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. King Luther Capital Management Corp lifted its position in shares of Trane Technologies by 1.3% during the 2nd quarter. King Luther Capital Management Corp now owns 1,942 shares of the company’s stock valued at $849,000 after buying an additional 24 shares in the last quarter. Old Port Advisors lifted its holdings in Trane Technologies by 3.2% during the third quarter. Old Port Advisors now owns 778 shares of the company’s stock valued at $328,000 after purchasing an additional 24 shares in the last quarter. OneAscent Wealth Management LLC boosted its position in shares of Trane Technologies by 1.5% in the third quarter. OneAscent Wealth Management LLC now owns 1,627 shares of the company’s stock worth $686,000 after purchasing an additional 24 shares during the period. Busey Bank increased its stake in shares of Trane Technologies by 3.0% in the third quarter. Busey Bank now owns 871 shares of the company’s stock worth $368,000 after purchasing an additional 25 shares in the last quarter. Finally, Mather Group LLC. increased its stake in shares of Trane Technologies by 2.7% in the third quarter. Mather Group LLC. now owns 966 shares of the company’s stock worth $408,000 after purchasing an additional 25 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

TT has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their price objective on Trane Technologies from $375.00 to $400.00 and gave the stock an “underweight” rating in a research note on Friday, January 30th. Bank of America raised Trane Technologies from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $490.00 to $550.00 in a report on Thursday, November 13th. Royal Bank Of Canada increased their price objective on shares of Trane Technologies from $469.00 to $470.00 and gave the company a “sector perform” rating in a report on Friday, January 30th. Melius Research raised shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 target price on the stock in a report on Wednesday, January 7th. Finally, Citigroup upped their target price on shares of Trane Technologies from $513.00 to $525.00 and gave the stock a “buy” rating in a research 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 issued a Sell rating to the company. According to MarketBeat, Trane Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $484.67.

Trane Technologies Price Performance

TT opened at $465.04 on Tuesday. The company has a market capitalization of $102.93 billion, a price-to-earnings ratio of 35.83, a PEG ratio of 2.45 and a beta of 1.21. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $479.37. The company has a current ratio of 1.25, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The business’s fifty day simple moving average is $405.27 and its 200-day simple moving average is $414.50.

Trane Technologies (NYSE:TT) last announced its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.05. The business had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $5.09 billion. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The business’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.61 EPS. On average, equities research analysts anticipate 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. Stockholders of record on Friday, March 6th will be paid a dividend of $1.05 per share. The ex-dividend date is Friday, March 6th. This is an increase from Trane Technologies’s previous quarterly dividend of $0.94. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. Trane Technologies’s payout ratio is presently 28.97%.

Insider Buying and Selling at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 2,389 shares of the stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $462.70, for a total transaction of $1,105,390.30. Following the sale, the chief financial officer directly owned 60,486 shares of the company’s stock, valued at $27,986,872.20. This represents a 3.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David S. Regnery sold 5,588 shares of the business’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $462.60, for a total transaction of $2,585,008.80. Following the completion of the sale, the chief executive officer directly owned 96,948 shares of the company’s stock, valued at approximately $44,848,144.80. The trade was a 5.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 8,936 shares of company stock valued at $4,133,991. 0.14% of the stock is owned by corporate insiders.

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.