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

Isthmus Partners LLC lowered its position in Trane Technologies plc (NYSE:TT) by 9.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 45,637 shares of the company’s stock after selling 4,881 shares during the quarter. Trane Technologies accounts for 2.0% of Isthmus Partners LLC’s holdings, making the stock its 6th largest holding. Isthmus Partners LLC’s holdings in Trane Technologies were worth $16,856,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Global Wealth Strategies & Associates purchased a new stake in shares of Trane Technologies during the 4th quarter worth about $26,000. MidAtlantic Capital Management Inc. purchased a new stake in Trane Technologies during the third quarter worth approximately $27,000. Sound Income Strategies LLC grew its stake in Trane Technologies by 1,314.3% during the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock worth $37,000 after buying an additional 92 shares during the period. Golden State Wealth Management LLC acquired a new stake in shares of Trane Technologies in the fourth quarter worth $39,000. Finally, Legacy Investment Solutions LLC purchased a new position in shares of Trane Technologies in the 3rd quarter valued at $44,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Performance

Shares of TT stock opened at $344.81 on Monday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. The stock has a market capitalization of $77.34 billion, a price-to-earnings ratio of 30.65, a PEG ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a one year low of $279.00 and a one year high of $422.00. The company’s 50-day simple moving average is $367.96 and its 200-day simple moving average is $380.61.

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

Trane Technologies Increases Dividend

The firm 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 dividend of $0.94 per share. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date is Friday, March 7th. This represents a $3.76 annualized dividend and a yield of 1.09%. Trane Technologies’s payout ratio is presently 33.42%.

Insiders Place Their Bets

In other news, SVP Mairead Magner sold 198 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total transaction of $70,806.78. Following the completion of the transaction, the senior vice president now directly owns 13,401 shares of the company’s stock, valued at approximately $4,792,331.61. This represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David S. Regnery sold 2,754 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total value of $984,114.36. Following the completion of the sale, the chief executive officer now directly owns 132,969 shares in the company, valued at approximately $47,515,142.46. This trade represents a 2.03 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,234 shares of company stock valued at $2,588,102. Company insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. JPMorgan Chase & Co. increased their price target on Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Citigroup lowered their target price on Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Royal Bank of Canada boosted their price target on Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research report on Friday, January 3rd. UBS Group lowered their price objective on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Finally, Melius Research reissued a “hold” rating and set a $398.00 target price on shares of Trane Technologies in a research report 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 company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $415.25.

Trane Technologies 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.