Wakefield Asset Management LLLP Has $4.13 Million Stock Holdings in Trane Technologies plc (NYSE:TT)

Wakefield Asset Management LLLP trimmed its position in shares of Trane Technologies plc (NYSE:TT) by 17.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,186 shares of the company’s stock after selling 2,426 shares during the quarter. Trane Technologies makes up approximately 1.4% of Wakefield Asset Management LLLP’s holdings, making the stock its 10th largest position. Wakefield Asset Management LLLP’s holdings in Trane Technologies were worth $4,132,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TT. QRG Capital Management Inc. grew its stake in Trane Technologies by 4.4% in the fourth quarter. QRG Capital Management Inc. now owns 45,327 shares of the company’s stock worth $16,741,000 after purchasing an additional 1,921 shares during the period. Proficio Capital Partners LLC boosted its holdings in shares of Trane Technologies by 47,293.6% during the 4th quarter. Proficio Capital Partners LLC now owns 253,082 shares of the company’s stock valued at $93,476,000 after buying an additional 252,548 shares in the last quarter. Mn Services Vermogensbeheer B.V. grew its position in shares of Trane Technologies by 3.1% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 90,273 shares of the company’s stock worth $33,342,000 after buying an additional 2,700 shares during the period. Simmons Bank lifted its position in Trane Technologies by 12.8% during the 4th quarter. Simmons Bank now owns 725 shares of the company’s stock valued at $268,000 after acquiring an additional 82 shares during the period. Finally, Checchi Capital Advisers LLC boosted its stake in Trane Technologies by 21.8% during the fourth quarter. Checchi Capital Advisers LLC now owns 2,373 shares of the company’s stock worth $876,000 after acquiring an additional 425 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Trading Down 1.7 %

Trane Technologies stock opened at $344.64 on Friday. The business has a 50-day simple moving average of $371.72 and a two-hundred day simple moving average of $380.02. Trane Technologies plc has a 52-week low of $279.00 and a 52-week high of $422.00. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The company has a market cap of $77.30 billion, a P/E ratio of 30.63, a P/E/G ratio of 2.50 and a beta of 1.05.

Trane Technologies (NYSE:TT) last announced its earnings results 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%. Analysts predict that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s payout ratio is currently 29.87%.

Insiders Place Their Bets

In other news, CFO Christopher J. Kuehn sold 876 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.42, for a total transaction of $313,099.92. Following the sale, the chief financial officer now directly owns 63,841 shares in the company, valued at $22,818,050.22. This trade represents a 1.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Mairead Magner sold 4,329 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the completion of the transaction, the senior vice president now directly owns 12,893 shares of the company’s stock, valued at $5,363,488. This represents a 25.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,563 shares of company stock worth $4,388,966 over the last quarter. 0.38% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on TT shares. JPMorgan Chase & Co. lifted their target price on shares of Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a report on Friday, January 31st. HSBC downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price on the stock. in a report on Thursday, October 31st. Northcoast Research started coverage on Trane Technologies in a report on Friday, November 22nd. They set a “buy” rating and a $500.00 price target for the company. Robert W. Baird dropped their price target on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Finally, Melius lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective for the company. in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $415.25.

About Trane Technologies

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.