Sanders Morris Harris LLC Trims Stake in Trane Technologies plc (NYSE:TT)

Sanders Morris Harris LLC trimmed its position in shares of Trane Technologies plc (NYSE:TT) by 26.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 558 shares of the company’s stock after selling 200 shares during the period. Sanders Morris Harris LLC’s holdings in Trane Technologies were worth $217,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sanibel Captiva Trust Company Inc. acquired a new stake in shares of Trane Technologies in the third quarter worth $217,000. Wedmont Private Capital increased its position in shares of Trane Technologies by 9.8% during the third quarter. Wedmont Private Capital now owns 2,847 shares of the company’s stock worth $1,111,000 after acquiring an additional 253 shares during the last quarter. CWM LLC grew its stake in Trane Technologies by 33.8% during the 3rd quarter. CWM LLC now owns 8,675 shares of the company’s stock valued at $3,372,000 after purchasing an additional 2,192 shares in the last quarter. ShankerValleau Wealth Advisors Inc. acquired a new position in shares of Trane Technologies in the 3rd quarter valued at approximately $204,000. Finally, Sovereign Financial Group Inc. boosted its stake in shares of Trane Technologies by 4.0% during the 3rd quarter. Sovereign Financial Group Inc. now owns 1,300 shares of the company’s stock valued at $505,000 after buying an additional 50 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Stock Up 0.8 %

TT stock opened at $399.72 on Thursday. The stock has a market cap of $90.48 billion, a PE ratio of 42.71, a price-to-earnings-growth ratio of 2.68 and a beta of 1.01. The firm’s 50-day simple moving average is $358.95 and its 200 day simple moving average is $334.60. Trane Technologies plc has a fifty-two week low of $184.02 and a fifty-two week high of $400.23. The company has a quick ratio of 0.84, a current ratio of 1.17 and a debt-to-equity ratio of 0.62.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, beating analysts’ consensus estimates of $3.08 by $0.22. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The company had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.13 billion. During the same quarter in the previous year, the company posted $2.68 earnings per share. The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. As a group, sell-side analysts predict that Trane Technologies plc will post 10.87 EPS for the current year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date is Friday, December 6th. Trane Technologies’s dividend payout ratio (DPR) is 35.90%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Royal Bank of Canada increased their price objective on shares of Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research note on Thursday, August 1st. The Goldman Sachs Group increased their price target on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday. Robert W. Baird lifted their target price on Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Wells Fargo & Company lifted their price objective on shares of Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a report on Monday. Finally, Barclays increased their target price on shares of Trane Technologies from $394.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $367.33.

Insider Activity

In related news, CEO David S. Regnery sold 29,450 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total value of $9,460,812.50. Following the completion of the transaction, the chief executive officer now owns 132,946 shares in the company, valued at $42,708,902.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Raymond D. Pittard sold 1,805 shares of Trane Technologies stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total value of $593,213.25. Following the transaction, the executive vice president now owns 83,517 shares of the company’s stock, valued at $27,447,862.05. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO David S. Regnery sold 29,450 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total value of $9,460,812.50. Following the completion of the sale, the chief executive officer now directly owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.

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.