Colonial Trust Advisors Cuts Stake in Trane Technologies plc $TT

Colonial Trust Advisors reduced its stake in Trane Technologies plc (NYSE:TT) by 4.6% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 25,126 shares of the company’s stock after selling 1,222 shares during the quarter. Colonial Trust Advisors’ holdings in Trane Technologies were worth $9,779,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TT. Brighton Jones LLC lifted its holdings in Trane Technologies by 60.0% during the fourth quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock valued at $2,288,000 after purchasing an additional 2,323 shares during the last quarter. Sivia Capital Partners LLC lifted its holdings in Trane Technologies by 22.4% during the second quarter. Sivia Capital Partners LLC now owns 1,665 shares of the company’s stock valued at $728,000 after purchasing an additional 305 shares during the last quarter. Schnieders Capital Management LLC. purchased a new stake in Trane Technologies during the second quarter valued at about $227,000. Nebula Research & Development LLC lifted its holdings in Trane Technologies by 178.0% during the second quarter. Nebula Research & Development LLC now owns 2,371 shares of the company’s stock valued at $1,037,000 after purchasing an additional 1,518 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its holdings in Trane Technologies by 0.5% during the second quarter. Treasurer of the State of North Carolina now owns 104,140 shares of the company’s stock valued at $45,552,000 after purchasing an additional 497 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Trading Up 2.4%

Shares of TT opened at $459.89 on Friday. The business’s 50-day moving average price is $462.86 and its 200-day moving average price is $432.97. Trane Technologies plc has a twelve month low of $348.06 and a twelve month high of $503.47. The stock has a market cap of $101.66 billion, a PE ratio of 35.57, a P/E/G ratio of 2.07 and a beta of 1.20. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.46.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.10. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The firm had revenue of $4.97 billion for the quarter, compared to analysts’ expectations of $4.81 billion. During the same period in the prior year, the business posted $2.45 earnings per share. The company’s revenue was up 6.0% on a year-over-year basis. On average, equities analysts forecast that Trane Technologies plc will post 14.88 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be given a dividend of $1.05 per share. The ex-dividend date is Friday, September 4th. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. Trane Technologies’s dividend payout ratio is currently 32.48%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Evercore assumed coverage on shares of Trane Technologies in a report on Monday, April 13th. They set an “outperform” rating and a $535.00 price objective on the stock. JPMorgan Chase & Co. upped their price objective on shares of Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. BNP Paribas Exane assumed coverage on shares of Trane Technologies in a report on Tuesday, April 14th. They set an “outperform” rating and a $550.00 price objective on the stock. Royal Bank Of Canada upped their price objective on shares of Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. Finally, KeyCorp upped their price objective on shares of Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $509.12.

Insider Activity

In other news, insider Donald E. Simmons sold 4,593 shares of the company’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the sale, the insider directly owned 3,819 shares in the company, valued at $1,909,500. This represents a 54.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher J. Kuehn sold 8,619 shares of the company’s stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $450.00, for a total value of $3,878,550.00. Following the sale, the chief financial officer owned 60,576 shares in the company, valued at approximately $27,259,200. This represents a 12.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.43% of the company’s stock.

Trane Technologies 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.