Sei Investments Co. Lowers Stock Position in Trane Technologies plc (NYSE:TT)

Sei Investments Co. lessened its stake in shares of Trane Technologies plc (NYSE:TT) by 9.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 300,801 shares of the company’s stock after selling 30,937 shares during the quarter. Sei Investments Co.’s holdings in Trane Technologies were worth $111,104,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Cobblestone Capital Advisors LLC NY raised its holdings in Trane Technologies by 1.8% during the third quarter. Cobblestone Capital Advisors LLC NY now owns 1,490 shares of the company’s stock worth $579,000 after purchasing an additional 27 shares in the last quarter. Wescott Financial Advisory Group LLC raised its holdings in Trane Technologies by 1.7% during the third quarter. Wescott Financial Advisory Group LLC now owns 1,723 shares of the company’s stock worth $670,000 after purchasing an additional 28 shares in the last quarter. Secured Retirement Advisors LLC raised its holdings in Trane Technologies by 0.6% during the fourth quarter. Secured Retirement Advisors LLC now owns 4,628 shares of the company’s stock worth $1,709,000 after purchasing an additional 28 shares in the last quarter. First Citizens Financial Corp raised its holdings in Trane Technologies by 4.6% during the fourth quarter. First Citizens Financial Corp now owns 656 shares of the company’s stock worth $242,000 after purchasing an additional 29 shares in the last quarter. Finally, Catalina Capital Group LLC raised its holdings in Trane Technologies by 3.2% during the fourth quarter. Catalina Capital Group LLC now owns 924 shares of the company’s stock worth $341,000 after purchasing an additional 29 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

TT has been the topic of a number of research analyst reports. Citigroup cut their price objective on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Melius cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective on the stock. in a report on Tuesday, January 28th. Wells Fargo & Company lowered their target price on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a research report on Friday, January 31st. JPMorgan Chase & Co. raised their target price on shares of Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Finally, Barclays lowered their target price on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Trane Technologies presently has an average rating of “Hold” and a consensus target price of $413.69.

Trane Technologies Stock Performance

NYSE:TT opened at $347.30 on Friday. The firm’s fifty day moving average price is $361.24 and its 200 day moving average price is $379.75. Trane Technologies plc has a 1-year low of $286.32 and a 1-year high of $422.00. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. The firm has a market cap of $77.90 billion, a price-to-earnings ratio of 30.87, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share 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%. On average, sell-side analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The business also recently announced 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 positive change from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies’s payout ratio is presently 33.42%.

Insiders Place Their Bets

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

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.