Trane Technologies plc (NYSE:TT) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC cut its stake in shares of Trane Technologies plc (NYSE:TT) by 12.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 132,745 shares of the company’s stock after selling 19,604 shares during the quarter. Clearbridge Investments LLC’s holdings in Trane Technologies were worth $49,029,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Townsquare Capital LLC boosted its stake in shares of Trane Technologies by 55.6% in the third quarter. Townsquare Capital LLC now owns 3,362 shares of the company’s stock valued at $1,307,000 after buying an additional 1,201 shares in the last quarter. Public Sector Pension Investment Board boosted its position in shares of Trane Technologies by 14.0% during the 3rd quarter. Public Sector Pension Investment Board now owns 9,772 shares of the company’s stock worth $3,799,000 after purchasing an additional 1,200 shares in the last quarter. Captrust Financial Advisors grew its stake in shares of Trane Technologies by 13.4% during the 3rd quarter. Captrust Financial Advisors now owns 15,221 shares of the company’s stock worth $5,917,000 after purchasing an additional 1,804 shares during the period. PDT Partners LLC purchased a new position in shares of Trane Technologies in the 3rd quarter valued at about $972,000. Finally, Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of Trane Technologies by 35.3% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 86,464 shares of the company’s stock valued at $33,611,000 after purchasing an additional 22,576 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TT has been the topic of several recent analyst reports. Melius lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price on the stock. in a research report on Tuesday, January 28th. Royal Bank of Canada upped their price target on Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a report on Friday, January 3rd. UBS Group reduced 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. Citigroup decreased their target price on Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Finally, Barclays cut their target price on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. One investment 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $413.69.

Insiders Place Their Bets

In other news, CFO Christopher J. Kuehn sold 770 shares of Trane Technologies stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $358.39, for a total value of $275,960.30. Following the completion of the transaction, the chief financial officer now owns 62,221 shares in the company, valued at approximately $22,299,384.19. This trade represents a 1.22 % decrease in their position. The sale was disclosed in a legal filing 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 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 owns 132,969 shares in the company, valued at $47,515,142.46. This trade represents a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,234 shares of company stock worth $2,588,102 in the last quarter. 0.38% of the stock is owned by corporate insiders.

Trane Technologies Trading Up 1.6 %

Shares of TT opened at $337.21 on Tuesday. Trane Technologies plc has a fifty-two week low of $286.32 and a fifty-two week high of $422.00. The company has a market capitalization of $75.63 billion, a PE ratio of 29.97, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. The stock has a fifty day moving average of $356.79 and a two-hundred day moving average of $379.99. 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 released its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share 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%. As a group, analysts forecast 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 was paid on Monday, March 31st. Stockholders of record on Friday, March 7th were 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 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date was Friday, March 7th. Trane Technologies’s payout ratio is presently 33.42%.

Trane Technologies Company 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.