Leavell Investment Management Inc. Reduces Position in Trane Technologies plc (NYSE:TT)

Leavell Investment Management Inc. cut its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 8.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,617 shares of the company's stock after selling 900 shares during the period. Leavell Investment Management Inc.'s holdings in Trane Technologies were worth $3,552,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in TT. Global Wealth Strategies & Associates bought a new position in shares of Trane Technologies during the 4th quarter valued at about $26,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Trane Technologies in the third quarter worth about $27,000. DT Investment Partners LLC bought a new stake in Trane Technologies in the 3rd quarter worth approximately $36,000. Sound Income Strategies LLC increased its stake in Trane Technologies by 1,314.3% in the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company's stock worth $37,000 after acquiring an additional 92 shares during the last quarter. Finally, Pittenger & Anderson Inc. bought a new stake in Trane Technologies in the 3rd quarter worth approximately $39,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Trading Up 0.6 %

TT traded up $2.30 during trading hours on Friday, reaching $363.58. 1,019,591 shares of the company's stock traded hands, compared to its average volume of 1,525,975. The firm has a 50-day moving average price of $378.44 and a 200 day moving average price of $378.78. Trane Technologies plc has a 52-week low of $270.50 and a 52-week high of $422.00. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $81.81 billion, a PE ratio of 32.32, a PEG ratio of 2.44 and a beta of 1.05.

Trane Technologies (NYSE:TT - Get Free Report) last issued its earnings results on Thursday, January 30th. The company reported $2.61 EPS for the quarter, topping 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%. As a group, sell-side analysts predict that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be paid a dividend of $0.94 per share. The ex-dividend date is Friday, March 7th. This represents a $3.76 annualized dividend and a dividend yield of 1.03%. This is a positive change from Trane Technologies's previous quarterly dividend of $0.84. Trane Technologies's dividend payout ratio (DPR) is currently 29.87%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Wells Fargo & Company cut their target price on shares of Trane Technologies from $380.00 to $360.00 and set an "underweight" rating for the company in a report on Friday, January 31st. JPMorgan Chase & Co. increased their price objective on shares of Trane Technologies from $387.00 to $396.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Melius Research reiterated a "hold" rating and set a $398.00 price objective on shares of Trane Technologies in a research report on Tuesday, January 28th. Citigroup lowered their price target on shares of Trane Technologies from $478.00 to $476.00 and set a "buy" rating for the company in a report on Monday, January 13th. Finally, Royal Bank of Canada boosted their price objective on Trane Technologies from $390.00 to $395.00 and gave the stock a "sector perform" rating in a research note on Friday, January 3rd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $415.25.

Insider Activity

In related news, SVP Mairead Magner sold 4,329 shares of the business's stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total value of $1,800,864.00. Following the completion of the transaction, the senior vice president now owns 12,893 shares of the company's stock, valued at $5,363,488. The trade was a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO David S. Regnery sold 2,754 shares of Trane Technologies stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total value of $984,114.36. Following the completion of the transaction, the chief executive officer now owns 132,969 shares in the company, valued at $47,515,142.46. This represents a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,563 shares of company stock worth $4,388,966. Company 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.