Trane Technologies plc $TT Shares Sold by Isthmus Partners LLC

Isthmus Partners LLC cut its position in Trane Technologies plc (NYSE:TT) by 8.6% during the first quarter, HoldingsChannel reports. The firm owned 39,173 shares of the company’s stock after selling 3,696 shares during the quarter. Trane Technologies accounts for 1.7% of Isthmus Partners LLC’s holdings, making the stock its 9th biggest position. Isthmus Partners LLC’s holdings in Trane Technologies were worth $16,325,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of TT. Tucker Asset Management LLC acquired a new position in shares of Trane Technologies during the fourth quarter worth $25,000. Hilton Head Capital Partners LLC acquired a new stake in Trane Technologies in the fourth quarter valued at $32,000. JPL Wealth Management LLC acquired a new stake in Trane Technologies in the third quarter valued at $32,000. Physician Wealth Advisors Inc. lifted its holdings in Trane Technologies by 192.6% during the 1st quarter. Physician Wealth Advisors Inc. now owns 79 shares of the company’s stock worth $33,000 after buying an additional 52 shares during the last quarter. Finally, Kemnay Advisory Services Inc. acquired a new position in shares of Trane Technologies during the 4th quarter worth about $34,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Citigroup raised their target price on Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Barclays upped their price target on Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” rating in a report on Friday, May 1st. BNP Paribas Exane started coverage on shares of Trane Technologies in a report on Tuesday, April 14th. They set an “outperform” rating and a $550.00 price objective on the stock. KeyCorp boosted their price objective on shares of Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Finally, Royal Bank Of Canada increased their target price on shares of Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a research report on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $512.19.

Trane Technologies Stock Performance

Shares of TT opened at $472.30 on Thursday. The company’s 50 day simple moving average is $470.24 and its 200-day simple moving average is $443.18. Trane Technologies plc has a 12-month low of $348.06 and a 12-month high of $505.87. The firm has a market cap of $104.40 billion, a PE ratio of 36.53, a price-to-earnings-growth ratio of 2.19 and a beta of 1.19. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.10. The company had revenue of $4.97 billion for the quarter, compared to the consensus estimate of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. Trane Technologies’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period last year, the firm posted $2.45 EPS. As a group, equities analysts predict that Trane Technologies plc will post 14.9 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be issued a $1.05 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. Trane Technologies’s payout ratio is presently 32.48%.

Insider Buying and Selling at Trane Technologies

In related news, insider Donald E. Simmons sold 4,593 shares of the stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the completion of the sale, the insider directly owned 3,819 shares of the company’s stock, valued at $1,909,500. This trade represents a 54.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by corporate insiders.

About Trane Technologies

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.