Compagnie Lombard Odier SCmA Reduces Position in Trane Technologies plc (NYSE:TT)

Compagnie Lombard Odier SCmA reduced its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 29.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 168,363 shares of the company's stock after selling 71,319 shares during the quarter. Compagnie Lombard Odier SCmA owned about 0.07% of Trane Technologies worth $62,185,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TT. MidAtlantic Capital Management Inc. purchased a new stake in Trane Technologies during the 3rd quarter valued at $27,000. Global Wealth Strategies & Associates purchased a new stake in Trane Technologies in the fourth quarter worth $26,000. DT Investment Partners LLC purchased a new stake in Trane Technologies in the third quarter worth $36,000. Sound Income Strategies LLC increased its stake in Trane Technologies by 1,314.3% in the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company's stock worth $37,000 after purchasing an additional 92 shares during the period. Finally, Pittenger & Anderson Inc. purchased a new position in shares of Trane Technologies during the third quarter valued at $39,000. 82.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on TT shares. Melius Research restated a "hold" rating and set a $398.00 price target on shares of Trane Technologies in a research note on Tuesday, January 28th. Barclays raised their price objective on Trane Technologies from $440.00 to $500.00 and gave the stock an "overweight" rating in a research note on Thursday, December 5th. 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 research note on Friday, January 31st. Royal Bank of Canada lifted their price target on Trane Technologies from $390.00 to $395.00 and gave the company a "sector perform" rating in a research report on Friday, January 3rd. Finally, Robert W. Baird cut their price objective on Trane Technologies from $408.00 to $404.00 and set a "neutral" rating for the company in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $415.25.

Trane Technologies Stock Performance

TT traded down $0.72 on Tuesday, hitting $362.54. 1,319,251 shares of the company's stock were exchanged, compared to its average volume of 1,507,373. Trane Technologies plc has a twelve month low of $270.50 and a twelve month high of $422.00. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The firm has a market cap of $81.58 billion, a PE ratio of 32.23, a P/E/G ratio of 2.44 and a beta of 1.05. The stock has a fifty day moving average of $376.98 and a two-hundred day moving average of $379.31.

Trane Technologies (NYSE:TT - Get Free Report) last issued its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) 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, research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be issued a dividend of $0.94 per share. This is an increase from Trane Technologies's previous quarterly dividend of $0.84. The ex-dividend date is Friday, March 7th. This represents a $3.76 annualized dividend and a dividend yield of 1.04%. Trane Technologies's payout ratio is presently 29.87%.

Insider Transactions at Trane Technologies

In other Trane Technologies news, CFO Christopher J. Kuehn sold 876 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.42, for a total value of $313,099.92. Following the completion of the sale, the chief financial officer now owns 63,841 shares of the company's stock, valued at approximately $22,818,050.22. This represents a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Mairead Magner sold 198 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 13,401 shares of the company's stock, valued at $4,792,331.61. This trade represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,563 shares of company stock worth $4,388,966. 0.38% of the stock is currently owned by company insiders.

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.