Summit Financial LLC Has $2.55 Million Stake in Trane Technologies plc (NYSE:TT)

Summit Financial LLC trimmed its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 10.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,912 shares of the company's stock after selling 799 shares during the quarter. Summit Financial LLC's holdings in Trane Technologies were worth $2,553,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Global Wealth Strategies & Associates bought a new stake in Trane Technologies in the fourth quarter valued at $26,000. Sound Income Strategies LLC boosted its stake in shares of Trane Technologies by 1,314.3% in the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company's stock valued at $37,000 after purchasing an additional 92 shares in the last quarter. Flagship Wealth Advisors LLC bought a new stake in shares of Trane Technologies in the 4th quarter worth about $37,000. Golden State Wealth Management LLC bought a new stake in shares of Trane Technologies in the 4th quarter worth about $39,000. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of Trane Technologies during the 3rd quarter worth about $44,000. 82.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on TT shares. Wells Fargo & Company decreased their price objective on shares of Trane Technologies from $380.00 to $360.00 and set an "underweight" rating on the stock in a research note on Friday, January 31st. Melius lowered Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 price target on the stock. in a research report on Tuesday, January 28th. Royal Bank of Canada lifted their price objective 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. Melius Research restated a "hold" rating and set a $398.00 target price on shares of Trane Technologies in a report on Tuesday, January 28th. Finally, UBS Group cut their price target on Trane Technologies from $500.00 to $470.00 and set a "buy" rating for the company in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, Trane Technologies presently has an average rating of "Hold" and a consensus price target of $413.69.

Trane Technologies Trading Down 3.9 %

Shares of TT stock traded down $12.86 on Friday, reaching $318.18. The company had a trading volume of 2,057,046 shares, compared to its average volume of 1,269,148. The stock has a market cap of $71.36 billion, a PE ratio of 28.28, a PEG ratio of 2.50 and a beta of 1.08. The company has a 50-day moving average of $351.63 and a 200-day moving average of $378.95. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. Trane Technologies plc has a 12 month low of $286.32 and a 12 month high of $422.00.

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

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be paid a $0.94 dividend. The ex-dividend date is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a yield of 1.18%. Trane Technologies's payout ratio is 33.42%.

Insiders Place Their Bets

In other Trane Technologies news, CEO David S. Regnery sold 2,754 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total transaction 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. This represents a 2.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Christopher J. Kuehn sold 876 shares of the business's stock in a transaction dated 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 in the company, valued at approximately $22,818,050.22. This trade represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,234 shares of company stock worth $2,588,102 over the last ninety days. 0.38% of the stock is currently owned by corporate 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.