Trane Technologies plc (NYSE:TT) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC lowered its position in Trane Technologies plc (NYSE:TT) by 59.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,973 shares of the company’s stock after selling 10,198 shares during the period. Cresset Asset Management LLC’s holdings in Trane Technologies were worth $2,575,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of TT. Sound Income Strategies LLC raised its position in 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 acquiring an additional 92 shares during the period. Flagship Wealth Advisors LLC purchased a new position in Trane Technologies in the 4th quarter valued at about $37,000. Golden State Wealth Management LLC acquired a new stake in Trane Technologies in the 4th quarter worth about $39,000. BankPlus Trust Department purchased a new stake in Trane Technologies during the 4th quarter worth approximately $45,000. Finally, Centricity Wealth Management LLC acquired a new position in shares of Trane Technologies during the fourth quarter valued at approximately $55,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Stock Down 0.3 %

Shares of NYSE:TT opened at $404.32 on Friday. The business has a 50-day moving average price of $350.05 and a 200 day moving average price of $372.45. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $422.00. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $90.17 billion, a price-to-earnings ratio of 35.94, a PEG ratio of 2.50 and a beta of 1.14.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $0.25. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. The business had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.46 billion. During the same period in the previous year, the firm earned $1.94 EPS. The business’s revenue was up 11.2% on a year-over-year basis. Sell-side analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be issued a $0.94 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.76 annualized dividend and a dividend yield of 0.93%. Trane Technologies’s dividend payout ratio is presently 31.28%.

Analyst Upgrades and Downgrades

TT has been the subject of several research reports. Royal Bank of Canada boosted their price target on Trane Technologies from $363.00 to $408.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 1st. Citigroup increased their target price on shares of Trane Technologies from $415.00 to $445.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. UBS Group lowered their price target on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Melius Research reiterated a “hold” rating and issued a $398.00 price objective on shares of Trane Technologies in a report on Tuesday, January 28th. Finally, Robert W. Baird boosted their target price on Trane Technologies from $360.00 to $396.00 and gave the stock a “neutral” rating in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $421.07.

Insider Buying and Selling

In other news, CEO David S. Regnery sold 2,318 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $358.17, for a total value of $830,238.06. Following the sale, the chief executive officer now directly owns 126,831 shares in the company, valued at approximately $45,427,059.27. This trade represents a 1.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Donald E. Simmons sold 3,571 shares of Trane Technologies stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total value of $1,356,980.00. Following the completion of the transaction, the insider now owns 3,593 shares of the company’s stock, valued at approximately $1,365,340. This trade represents a 49.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,977 shares of company stock valued at $2,577,061. Corporate 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.