Sunbelt Securities Inc. Sells 75 Shares of Trane Technologies plc (NYSE:TT)

Sunbelt Securities Inc. cut its stake in shares of Trane Technologies plc (NYSE:TT) by 10.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 655 shares of the company’s stock after selling 75 shares during the period. Sunbelt Securities Inc.’s holdings in Trane Technologies were worth $197,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Keel Point LLC lifted its holdings in Trane Technologies by 3.0% during the fourth quarter. Keel Point LLC now owns 1,326 shares of the company’s stock worth $323,000 after acquiring an additional 39 shares during the period. Rosenberg Matthew Hamilton boosted its holdings in shares of Trane Technologies by 27.2% in the 4th quarter. Rosenberg Matthew Hamilton now owns 192 shares of the company’s stock worth $47,000 after buying an additional 41 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in Trane Technologies by 2.3% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,847 shares of the company’s stock valued at $450,000 after buying an additional 42 shares during the period. Level Four Advisory Services LLC increased its holdings in Trane Technologies by 1.5% during the fourth quarter. Level Four Advisory Services LLC now owns 2,757 shares of the company’s stock worth $672,000 after buying an additional 42 shares during the last quarter. Finally, Cedrus LLC raised its position in Trane Technologies by 2.6% in the fourth quarter. Cedrus LLC now owns 1,669 shares of the company’s stock worth $407,000 after acquiring an additional 43 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Stock Performance

Shares of TT opened at $328.93 on Friday. Trane Technologies plc has a 12-month low of $184.02 and a 12-month high of $345.46. The company has a current ratio of 1.13, a quick ratio of 0.74 and a debt-to-equity ratio of 0.58. The company has a market cap of $74.45 billion, a PE ratio of 35.09, a price-to-earnings-growth ratio of 2.62 and a beta of 1.01. The stock has a 50-day moving average price of $324.44 and a 200-day moving average price of $289.08.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Tuesday, April 30th. The company reported $1.94 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.30. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The business had revenue of $4.22 billion during the quarter, compared to analysts’ expectations of $3.99 billion. During the same quarter in the previous year, the company earned $1.41 EPS. The business’s quarterly revenue was up 15.0% compared to the same quarter last year. As a group, equities analysts forecast that Trane Technologies plc will post 10.46 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $3.36 annualized dividend and a dividend yield of 1.02%. Trane Technologies’s dividend payout ratio (DPR) is presently 35.90%.

Insider Activity at Trane Technologies

In other Trane Technologies news, CFO Christopher J. Kuehn sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $318.67, for a total value of $1,274,680.00. Following the completion of the sale, the chief financial officer now owns 61,293 shares of the company’s stock, valued at $19,532,240.31. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Trane Technologies news, CFO Christopher J. Kuehn sold 4,000 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $318.67, for a total value of $1,274,680.00. Following the completion of the sale, the chief financial officer now directly owns 61,293 shares of the company’s stock, valued at $19,532,240.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Evan M. Turtz sold 8,988 shares of Trane Technologies stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $321.30, for a total value of $2,887,844.40. Following the completion of the transaction, the senior vice president now owns 20,758 shares in the company, valued at approximately $6,669,545.40. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. UBS Group raised their price target on shares of Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, June 3rd. TD Cowen upped their price target on Trane Technologies from $325.00 to $360.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. The Goldman Sachs Group lifted their price objective on Trane Technologies from $287.00 to $326.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Citigroup upped their price objective on shares of Trane Technologies from $355.00 to $366.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, Robert W. Baird boosted their price target on shares of Trane Technologies from $315.00 to $344.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Trane Technologies currently has an average rating of “Hold” and an average price target of $309.79.

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.