Annis Gardner Whiting Capital Advisors LLC Lowers Stake in Trane Technologies plc (NYSE:TT)

Annis Gardner Whiting Capital Advisors LLC lowered its position in Trane Technologies plc (NYSE:TT) by 43.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 86 shares of the company’s stock after selling 65 shares during the quarter. Annis Gardner Whiting Capital Advisors LLC’s holdings in Trane Technologies were worth $32,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Norges Bank bought a new position in shares of Trane Technologies in the fourth quarter worth about $1,117,816,000. Raymond James Financial Inc. purchased a new position in Trane Technologies in the 4th quarter worth approximately $611,322,000. Bank Julius Baer & Co. Ltd Zurich grew its holdings in Trane Technologies by 455.2% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 427,226 shares of the company’s stock valued at $167,977,000 after buying an additional 350,277 shares in the last quarter. Nordea Investment Management AB raised its position in shares of Trane Technologies by 42.9% during the fourth quarter. Nordea Investment Management AB now owns 978,275 shares of the company’s stock valued at $361,874,000 after buying an additional 293,916 shares during the last quarter. Finally, Caisse Des Depots ET Consignations purchased a new position in shares of Trane Technologies in the fourth quarter worth $98,560,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

TT has been the subject of several research analyst reports. JPMorgan Chase & Co. raised their target price on shares of Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Barclays reduced their target price on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. Wells Fargo & Company dropped their price target on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a research note on Friday, January 31st. Citigroup reduced their price objective on Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Finally, Melius Research reiterated a “hold” rating and set a $398.00 target price on shares of Trane Technologies in a research report on Tuesday, January 28th. One equities 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. According to data from MarketBeat.com, Trane Technologies currently has a consensus rating of “Hold” and a consensus price target of $413.69.

Insiders Place Their Bets

In other Trane Technologies news, CEO David S. Regnery sold 2,754 shares of the company’s stock in a transaction 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 sale, the chief executive officer now directly owns 132,969 shares in the company, valued at approximately $47,515,142.46. This represents a 2.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Christopher J. Kuehn sold 770 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $358.39, for a total value of $275,960.30. Following the transaction, the chief financial officer now owns 62,221 shares in the company, valued at approximately $22,299,384.19. This represents a 1.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,234 shares of company stock worth $2,588,102 in the last three months. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Stock Down 3.9 %

Shares of NYSE TT opened at $318.18 on Friday. The company has a market cap of $71.36 billion, a P/E ratio of 28.28, a PEG ratio of 2.50 and a beta of 1.08. The firm has a 50-day simple moving average of $351.63 and a two-hundred day simple moving average of $378.92. Trane Technologies plc has a 1 year low of $286.32 and a 1 year high of $422.00. 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 (NYSE:TT) last announced its quarterly earnings data on Thursday, January 30th. The company reported $2.61 EPS for the quarter, beating the consensus estimate of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. Research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be given a $0.94 dividend. The ex-dividend date is Friday, June 6th. This represents a $3.76 annualized dividend and a yield of 1.18%. Trane Technologies’s dividend payout ratio (DPR) is 33.42%.

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.