Lowe Brockenbrough & Co. Inc. Lowers Position in Trane Technologies plc (NYSE:TT)

Lowe Brockenbrough & Co. Inc. lowered its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 34.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 26,331 shares of the company's stock after selling 14,134 shares during the quarter. Lowe Brockenbrough & Co. Inc.'s holdings in Trane Technologies were worth $9,725,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Global Wealth Strategies & Associates acquired a new position in Trane Technologies in the fourth quarter valued at approximately $26,000. Sound Income Strategies LLC raised its position in shares of Trane Technologies by 1,314.3% during 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. Flagship Wealth Advisors LLC acquired a new position in shares of Trane Technologies in the fourth quarter valued at approximately $37,000. Golden State Wealth Management LLC bought a new position in Trane Technologies during the 4th quarter worth about $39,000. Finally, Legacy Investment Solutions LLC acquired a new stake in Trane Technologies in the 3rd quarter valued at approximately $44,000. Institutional investors own 82.97% of the company's stock.

Insider Transactions at Trane Technologies

In related news, SVP Mairead Magner sold 198 shares of the business's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total value of $70,806.78. Following the completion of the sale, the senior vice president now directly owns 13,401 shares of the company's stock, valued at $4,792,331.61. The trade was a 1.46 % decrease in their position. 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 the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 132,969 shares in the company, valued at approximately $47,515,142.46. The trade was a 2.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,234 shares of company stock valued at $2,588,102 in the last quarter. 0.38% of the stock is currently owned by company insiders.

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Analyst Ratings Changes

TT has been the subject of several analyst reports. Barclays decreased their price objective on Trane Technologies from $500.00 to $475.00 and set an "overweight" rating for the company in a report on Monday, March 10th. Melius downgraded shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 target price for the company. in a report on Tuesday, January 28th. Melius Research reaffirmed a "hold" rating and issued a $398.00 price objective on shares of Trane Technologies in a report on Tuesday, January 28th. Royal Bank of Canada lifted their price target on shares of 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, Wells Fargo & Company cut their price objective on shares of Trane Technologies from $380.00 to $360.00 and set an "underweight" rating for the company in a research report on Friday, January 31st. One equities research 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, the stock currently has a consensus rating of "Hold" and a consensus price target of $413.69.

Trane Technologies Trading Up 1.8 %

NYSE TT traded up $6.30 during trading hours on Tuesday, reaching $363.90. The company's stock had a trading volume of 1,492,951 shares, compared to its average volume of 1,167,099. The stock has a market cap of $81.62 billion, a P/E ratio of 32.35, a P/E/G ratio of 2.50 and a beta of 1.08. The firm has a fifty day simple moving average of $360.87 and a 200-day simple moving average of $380.10. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. Trane Technologies plc has a 52 week low of $286.32 and a 52 week high of $422.00.

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

Trane Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.03%. This is a boost from Trane Technologies's previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies's dividend payout ratio is presently 33.42%.

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.