CCLA Investment Management Has $100.04 Million Stock Holdings in Trane Technologies plc $TT

CCLA Investment Management cut its stake in Trane Technologies plc (NYSE:TT) by 8.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 256,954 shares of the company’s stock after selling 24,918 shares during the quarter. CCLA Investment Management owned 0.12% of Trane Technologies worth $100,037,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Hager Investment Management Services LLC raised its stake in shares of Trane Technologies by 70.7% in the fourth quarter. Hager Investment Management Services LLC now owns 1,914 shares of the company’s stock worth $745,000 after purchasing an additional 793 shares during the last quarter. Financial Consulate Inc. raised its stake in shares of Trane Technologies by 166.7% in the fourth quarter. Financial Consulate Inc. now owns 160 shares of the company’s stock worth $62,000 after purchasing an additional 100 shares during the last quarter. Prime Capital Investment Advisors LLC raised its stake in shares of Trane Technologies by 14.4% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 2,833 shares of the company’s stock worth $1,102,000 after purchasing an additional 357 shares during the last quarter. Oak Thistle LLC purchased a new stake in shares of Trane Technologies in the fourth quarter worth approximately $666,000. Finally, Towercrest Capital Management purchased a new stake in shares of Trane Technologies in the fourth quarter worth approximately $339,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Stock Performance

Shares of TT opened at $449.76 on Thursday. 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 $99.55 billion, a price-to-earnings ratio of 34.65, a PEG ratio of 2.25 and a beta of 1.21. The stock has a 50 day moving average of $439.37 and a 200 day moving average of $418.83. Trane Technologies plc has a 12 month low of $310.80 and a 12 month high of $479.37.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data 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 business had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $5.09 billion. During the same quarter last year, the company posted $2.61 earnings per share. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be issued a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, June 5th. Trane Technologies’s dividend payout ratio (DPR) is 32.36%.

Insider Activity at Trane Technologies

In other Trane Technologies news, CAO Elizabeth A. Elwell sold 635 shares of the firm’s stock in a transaction on 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 directly owned 7,100 shares of the company’s stock, valued at $3,001,170. This trade represents a 8.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Donald E. Simmons sold 3,762 shares of the firm’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $422.70, for a total value of $1,590,197.40. Following the completion of the sale, the insider directly owned 3,819 shares of the company’s stock, valued at $1,614,291.30. This represents a 49.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 49,378 shares of company stock worth $21,228,464. 0.14% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TT. Barclays increased their target price on shares of Trane Technologies from $505.00 to $507.00 and gave the company an “overweight” rating in a report 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 for the company in a report on Monday, January 5th. Oppenheimer increased their target price on shares of Trane Technologies from $460.00 to $468.00 and gave the company an “outperform” rating in a report on Friday, January 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a report on Wednesday, January 21st. Finally, KeyCorp upgraded shares of Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 target price for the company in a report on Monday, December 15th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $484.67.

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.