Walter Public Investments Inc. Sells 4,981 Shares of Trane Technologies plc (NYSE:TT)

Walter Public Investments Inc. trimmed its position in Trane Technologies plc (NYSE:TT) by 8.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,887 shares of the company’s stock after selling 4,981 shares during the period. Trane Technologies makes up approximately 3.4% of Walter Public Investments Inc.’s portfolio, making the stock its 13th biggest position. Walter Public Investments Inc.’s holdings in Trane Technologies were worth $18,795,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TT. Swedbank AB increased its position in Trane Technologies by 2.8% in the 3rd quarter. Swedbank AB now owns 743,794 shares of the company’s stock valued at $289,135,000 after buying an additional 20,400 shares in the last quarter. Old Port Advisors bought a new stake in Trane Technologies during the 3rd quarter worth approximately $246,000. Orrstown Financial Services Inc. bought a new stake in Trane Technologies during the 3rd quarter worth approximately $209,000. Smith Group Asset Management LLC bought a new stake in Trane Technologies during the 3rd quarter worth approximately $299,000. Finally, Diversify Advisory Services LLC increased its holdings in Trane Technologies by 24.1% during the 3rd quarter. Diversify Advisory Services LLC now owns 1,004 shares of the company’s stock worth $394,000 after purchasing an additional 195 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Insider Buying and Selling at Trane Technologies

In related news, CEO David S. Regnery sold 2,754 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total transaction of $984,114.36. Following the completion of the transaction, the chief executive officer now owns 132,969 shares of the company’s stock, valued at $47,515,142.46. This trade represents a 2.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Mairead Magner sold 4,329 shares of the firm’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 transaction, the senior vice president now directly owns 12,893 shares of the company’s stock, valued at approximately $5,363,488. This trade 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 three months. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Stock Performance

Shares of NYSE:TT opened at $350.30 on Thursday. The company has a market capitalization of $78.57 billion, a price-to-earnings ratio of 31.14, a PEG ratio of 2.50 and a beta of 1.05. Trane Technologies plc has a 12 month low of $279.00 and a 12 month high of $422.00. The firm’s 50-day moving average is $372.37 and its 200 day moving average is $380.26. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58.

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

Trane Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.07%. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date is Friday, March 7th. Trane Technologies’s dividend payout ratio (DPR) is 29.87%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on TT shares. UBS Group decreased their price objective on Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a report on Friday, January 31st. Northcoast Research assumed coverage on Trane Technologies in a research note on Friday, November 22nd. They issued a “buy” rating and a $500.00 target price on the stock. Melius Research restated a “hold” rating and issued a $398.00 target price on shares of Trane Technologies in a research note on Tuesday, January 28th. Citigroup dropped their price objective on Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Finally, Hsbc Global Res downgraded Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Trane Technologies currently has a consensus rating of “Hold” and an average target price 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.