Trane Technologies plc (NYSE:TT) Shares Sold by Convergence Investment Partners LLC

Convergence Investment Partners LLC lessened its position in Trane Technologies plc (NYSE:TT) by 11.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 607 shares of the company’s stock after selling 79 shares during the period. Convergence Investment Partners LLC’s holdings in Trane Technologies were worth $224,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Cobblestone Capital Advisors LLC NY increased its position in Trane Technologies by 1.8% in the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 1,490 shares of the company’s stock valued at $579,000 after acquiring an additional 27 shares during the period. Wescott Financial Advisory Group LLC increased its position in Trane Technologies by 1.7% in the 3rd quarter. Wescott Financial Advisory Group LLC now owns 1,723 shares of the company’s stock valued at $670,000 after acquiring an additional 28 shares during the period. Secured Retirement Advisors LLC increased its holdings in shares of Trane Technologies by 0.6% during the fourth quarter. Secured Retirement Advisors LLC now owns 4,628 shares of the company’s stock valued at $1,709,000 after purchasing an additional 28 shares during the period. Greenleaf Trust increased its holdings in shares of Trane Technologies by 0.5% during the third quarter. Greenleaf Trust now owns 5,852 shares of the company’s stock valued at $2,275,000 after purchasing an additional 29 shares during the period. Finally, First Citizens Financial Corp increased its holdings in shares of Trane Technologies by 4.6% during the fourth quarter. First Citizens Financial Corp now owns 656 shares of the company’s stock valued at $242,000 after purchasing an additional 29 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Trading Up 2.0 %

TT opened at $370.04 on Thursday. Trane Technologies plc has a fifty-two week low of $270.50 and a fifty-two week high of $422.00. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. The firm has a market capitalization of $83.00 billion, a price-to-earnings ratio of 32.89, a PEG ratio of 2.48 and a beta of 1.05. The company’s 50 day moving average price is $376.38 and its two-hundred day moving average price is $379.24.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Thursday, January 30th. The company reported $2.61 EPS for the quarter, beating analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. As a group, research analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s payout ratio is presently 29.87%.

Insider Activity at Trane Technologies

In related news, SVP Mairead Magner sold 4,329 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the transaction, the senior vice president now owns 12,893 shares in the company, valued at $5,363,488. The trade was a 25.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Evan M. Turtz sold 318 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $358.12, for a total transaction of $113,882.16. Following the transaction, the senior vice president now owns 20,513 shares in the company, valued at $7,346,115.56. The trade was a 1.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,563 shares of company stock worth $4,388,966 in the last quarter. Company insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on TT. Royal Bank of Canada raised their target price on shares of Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a research note on Friday, January 3rd. HSBC lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective on the stock. in a research note on Thursday, October 31st. Barclays raised their price objective on shares of Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. UBS Group lowered their price target on Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Finally, Melius Research reiterated a “hold” rating and set a $398.00 price target on shares of Trane Technologies in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $415.25.

Trane Technologies Company Profile

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.