Trane Technologies plc $TT Shares Sold by Cambria Investment Management L.P.

Cambria Investment Management L.P. reduced its holdings in Trane Technologies plc (NYSE:TT) by 31.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,332 shares of the company’s stock after selling 1,509 shares during the quarter. Cambria Investment Management L.P.’s holdings in Trane Technologies were worth $1,406,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Financial Consulate Inc. bought a new stake in Trane Technologies during the third quarter worth approximately $25,000. Icon Advisers Inc. Co. bought a new position in shares of Trane Technologies in the second quarter valued at $26,000. United Community Bank lifted its position in shares of Trane Technologies by 134.4% during the 3rd quarter. United Community Bank now owns 75 shares of the company’s stock valued at $32,000 after acquiring an additional 43 shares during the last quarter. JPL Wealth Management LLC acquired a new stake in shares of Trane Technologies during the 3rd quarter valued at $32,000. Finally, KERR FINANCIAL PLANNING Corp bought a new stake in shares of Trane Technologies during the 3rd quarter worth $42,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Trading Down 0.9%

NYSE TT opened at $422.99 on Friday. Trane Technologies plc has a 1-year low of $298.15 and a 1-year 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 company has a market capitalization of $93.62 billion, a PE ratio of 32.59, a price-to-earnings-growth ratio of 2.25 and a beta of 1.19. The firm’s fifty day simple moving average is $429.67 and its 200-day simple moving average is $417.28.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.81 by $0.05. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.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 firm earned $2.61 earnings per share. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be issued a dividend of $1.05 per share. The ex-dividend date is Friday, March 6th. This represents a $4.20 annualized dividend and a dividend yield of 1.0%. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.94. Trane Technologies’s dividend payout ratio is presently 32.36%.

Insider Transactions at Trane Technologies

In related news, CAO Elizabeth A. Elwell sold 635 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $422.70, for a total transaction of $268,414.50. Following the transaction, the chief accounting officer owned 7,100 shares of the company’s stock, valued at approximately $3,001,170. This trade represents a 8.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Christopher J. Kuehn sold 2,389 shares of Trane Technologies stock in a transaction that occurred on 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 completion of the sale, the chief financial officer owned 60,486 shares of the company’s stock, valued at $27,986,872.20. This trade represents a 3.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 49,378 shares of company stock worth $21,228,464. 0.14% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Trane Technologies in a research report on Wednesday, January 21st. Oppenheimer increased their price target on Trane Technologies from $460.00 to $468.00 and gave the company an “outperform” rating in a research report on Friday, January 30th. Barclays lifted their price target on Trane Technologies from $505.00 to $507.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. Citigroup upped their price objective on shares of Trane Technologies from $513.00 to $525.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Finally, JPMorgan Chase & Co. raised their target price on shares of 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently 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.