Cambria Investment Management L.P. Has $1.41 Million Stock Position in Trane Technologies plc $TT

Cambria Investment Management L.P. cut its holdings in Trane Technologies plc (NYSE:TT) by 31.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,332 shares of the company’s stock after selling 1,509 shares during the period. Cambria Investment Management L.P.’s holdings in Trane Technologies were worth $1,406,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Financial Consulate Inc. bought a new stake in Trane Technologies in the 3rd quarter valued at about $25,000. Icon Advisers Inc. Co. bought a new stake in shares of Trane Technologies in the second quarter valued at approximately $26,000. Hantz Financial Services Inc. grew its position in Trane Technologies by 1,016.7% during the second quarter. Hantz Financial Services Inc. now owns 67 shares of the company’s stock worth $29,000 after buying an additional 61 shares in the last quarter. United Community Bank increased its stake in Trane Technologies by 134.4% during the 3rd quarter. United Community Bank now owns 75 shares of the company’s stock worth $32,000 after acquiring an additional 43 shares during the period. Finally, Halbert Hargrove Global Advisors LLC raised its holdings in Trane Technologies by 34.2% in the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 102 shares of the company’s stock valued at $43,000 after acquiring an additional 26 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Transactions at Trane Technologies

In related news, CFO Christopher J. Kuehn sold 2,389 shares of Trane Technologies stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $462.70, for a total transaction of $1,105,390.30. Following the sale, the chief financial officer directly owned 60,486 shares in the company, valued at $27,986,872.20. This trade represents a 3.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Donald E. Simmons sold 822 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $462.57, for a total transaction of $380,232.54. Following the sale, the insider directly owned 3,819 shares in the company, valued at $1,766,554.83. The trade was a 17.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 8,936 shares of company stock valued at $4,133,991. 0.14% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

TT has been the topic of several analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a report on Wednesday, January 21st. Citigroup upped their price objective on shares of Trane Technologies from $513.00 to $525.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Morgan Stanley decreased their target price on shares of Trane Technologies from $550.00 to $535.00 and set an “overweight” rating on the stock in a report on Tuesday, January 13th. Royal Bank Of Canada boosted their target price on shares of Trane Technologies from $469.00 to $470.00 and gave the company a “sector perform” rating in a research report on Friday, January 30th. Finally, Barclays increased their price target on shares of Trane Technologies from $505.00 to $507.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $484.67.

Trane Technologies Stock Performance

Shares of Trane Technologies stock opened at $445.20 on Thursday. The company’s 50 day moving average price is $421.28 and its two-hundred day moving average price is $417.04. The firm has a market capitalization of $98.54 billion, a P/E ratio of 34.30, a P/E/G ratio of 2.35 and a beta of 1.19. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $479.37. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.92.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.05. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The company had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $5.09 billion. During the same period in the prior year, the business earned $2.61 earnings per share. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, equities analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be paid a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, March 6th. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.94. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. Trane Technologies’s payout ratio is 28.97%.

Trane Technologies Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.