Choreo LLC Sells 891 Shares of Trane Technologies plc (NYSE:TT)

Choreo LLC reduced its holdings in Trane Technologies plc (NYSE:TT) by 6.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,047 shares of the company’s stock after selling 891 shares during the quarter. Choreo LLC’s holdings in Trane Technologies were worth $4,842,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Confluence Wealth Services Inc. boosted its stake in Trane Technologies by 8.9% in the 4th quarter. Confluence Wealth Services Inc. now owns 3,989 shares of the company’s stock worth $1,597,000 after purchasing an additional 326 shares during the period. Massachusetts Wealth Management boosted its position in shares of Trane Technologies by 2.0% during the fourth quarter. Massachusetts Wealth Management now owns 6,390 shares of the company’s stock worth $2,360,000 after buying an additional 125 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Trane Technologies by 37.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 33,417 shares of the company’s stock worth $12,448,000 after buying an additional 9,093 shares in the last quarter. Stratos Wealth Partners LTD. raised its position in Trane Technologies by 0.5% in the 4th quarter. Stratos Wealth Partners LTD. now owns 5,538 shares of the company’s stock valued at $2,046,000 after buying an additional 29 shares during the last quarter. Finally, Yousif Capital Management LLC lifted its stake in Trane Technologies by 1.3% in the 4th quarter. Yousif Capital Management LLC now owns 29,496 shares of the company’s stock valued at $10,894,000 after acquiring an additional 381 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

TT has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their price objective 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. Melius Research reiterated a “hold” rating and issued a $398.00 price target on shares of Trane Technologies in a research note on Tuesday, January 28th. Citigroup reduced their price objective on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Mizuho lifted their target price on Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Finally, The Goldman Sachs Group upped their target price on Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $415.25.

Insider Transactions at Trane Technologies

In other news, SVP Mairead Magner sold 4,329 shares of the firm’s stock in a transaction that occurred 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.38% of the company’s stock.

Trane Technologies Stock Performance

Shares of TT stock opened at $357.47 on Thursday. Trane Technologies plc has a 52 week low of $265.37 and a 52 week high of $422.00. The company has a market capitalization of $80.44 billion, a price-to-earnings ratio of 31.78, a PEG ratio of 2.18 and a beta of 1.05. The company has a 50-day simple moving average of $387.21 and a 200 day simple moving average of $377.24. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. On average, sell-side analysts predict that Trane Technologies plc will post 12.79 earnings per share for the current year.

Trane Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a dividend of $0.94 per share. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 annualized dividend and a yield of 1.05%. Trane Technologies’s dividend payout ratio (DPR) is presently 29.87%.

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.