Colonial Trust Advisors Sells 1,206 Shares of Trane Technologies plc $TT

Colonial Trust Advisors trimmed its stake in shares of Trane Technologies plc (NYSE:TT) by 4.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,348 shares of the company’s stock after selling 1,206 shares during the period. Colonial Trust Advisors’ holdings in Trane Technologies were worth $11,118,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of TT. Waratah Capital Advisors Ltd. lifted its holdings in Trane Technologies by 773.7% during the 3rd quarter. Waratah Capital Advisors Ltd. now owns 68,982 shares of the company’s stock worth $29,108,000 after buying an additional 61,087 shares in the last quarter. Counterpoint Mutual Funds LLC raised its position in shares of Trane Technologies by 12.5% during the third quarter. Counterpoint Mutual Funds LLC now owns 756 shares of the company’s stock worth $319,000 after acquiring an additional 84 shares during the last quarter. Mufg Securities Americas Inc. lifted its stake in shares of Trane Technologies by 21.4% during the third quarter. Mufg Securities Americas Inc. now owns 6,000 shares of the company’s stock valued at $2,532,000 after acquiring an additional 1,058 shares during the period. First Financial Bankshares Inc boosted its holdings in Trane Technologies by 1.4% in the third quarter. First Financial Bankshares Inc now owns 2,500 shares of the company’s stock valued at $1,055,000 after acquiring an additional 35 shares during the last quarter. Finally, Compound Planning Inc. increased its position in Trane Technologies by 3.0% in the third quarter. Compound Planning Inc. now owns 2,637 shares of the company’s stock worth $1,113,000 after purchasing an additional 78 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity at Trane Technologies

In related news, CEO David S. Regnery sold 5,588 shares of the business’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $462.60, for a total value of $2,585,008.80. Following 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. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Christopher J. Kuehn sold 2,389 shares of Trane Technologies stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $462.70, for a total value of $1,105,390.30. Following the completion of the sale, the chief financial officer directly owned 60,486 shares in the company, valued at $27,986,872.20. This represents a 3.80% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 8,936 shares of company stock worth $4,133,991. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. KeyCorp upgraded shares of Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 target price on the stock in a research report on Monday, December 15th. 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. Oppenheimer lifted their target price on shares of Trane Technologies from $460.00 to $468.00 and gave the stock an “outperform” rating in a report on Friday, January 30th. Citigroup upped their target price on shares of Trane Technologies from $513.00 to $525.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Finally, JPMorgan Chase & Co. raised their price target on Trane Technologies from $434.00 to $460.00 and gave the stock a “neutral” 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 given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $484.67.

Trane Technologies Price Performance

TT opened at $463.82 on Wednesday. The company has a fifty day simple moving average of $413.25 and a 200 day simple moving average of $415.88. 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 stock has a market cap of $102.66 billion, a P/E ratio of 35.73, a P/E/G ratio of 2.42 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.

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 the consensus estimate of $2.81 by $0.05. The company had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $5.09 billion. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.61 earnings per share. On average, research analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be issued a dividend of $1.05 per share. This is an increase 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 0.9%. Trane Technologies’s dividend payout ratio is 28.97%.

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.