New York Life Investment Management LLC Lowers Holdings in Trane Technologies plc (NYSE:TT)

New York Life Investment Management LLC lowered its position in shares of Trane Technologies plc (NYSE:TT) by 26.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 35,629 shares of the company’s stock after selling 12,673 shares during the quarter. New York Life Investment Management LLC’s holdings in Trane Technologies were worth $8,690,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. BKM Wealth Management LLC acquired a new position in shares of Trane Technologies during the 4th quarter worth approximately $25,000. Venturi Wealth Management LLC boosted its position in shares of Trane Technologies by 139.7% in the third quarter. Venturi Wealth Management LLC now owns 151 shares of the company’s stock worth $31,000 after buying an additional 88 shares during the period. Rosenberg Matthew Hamilton grew its holdings in Trane Technologies by 27.2% during the 4th quarter. Rosenberg Matthew Hamilton now owns 192 shares of the company’s stock valued at $47,000 after purchasing an additional 41 shares in the last quarter. Ancora Advisors LLC purchased a new stake in shares of Trane Technologies during the third quarter worth about $40,000. Finally, Operose Advisors LLC purchased a new position in Trane Technologies in the third quarter valued at about $53,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Buying and Selling

In related news, CFO Christopher J. Kuehn sold 3,762 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $286.48, for a total value of $1,077,737.76. Following the transaction, the chief financial officer now directly owns 61,691 shares in the company, valued at approximately $17,673,237.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO David S. Regnery sold 6,990 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $286.19, for a total transaction of $2,000,468.10. Following the completion of the transaction, the chief executive officer now directly owns 113,874 shares in the company, valued at approximately $32,589,600.06. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Christopher J. Kuehn sold 3,762 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $286.48, for a total transaction of $1,077,737.76. Following the completion of the sale, the chief financial officer now owns 61,691 shares in the company, valued at $17,673,237.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,237 shares of company stock worth $8,024,534. 0.39% of the stock is currently owned by insiders.

Trane Technologies Price Performance

Shares of NYSE TT opened at $316.80 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.78 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $71.71 billion, a price-to-earnings ratio of 33.85, a PEG ratio of 2.50 and a beta of 1.01. Trane Technologies plc has a twelve month low of $162.04 and a twelve month high of $327.09. The firm has a 50-day moving average of $295.08 and a two-hundred day moving average of $257.16.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $1.94 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.30. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. The firm had revenue of $4.22 billion during the quarter, compared to analyst estimates of $3.99 billion. During the same period last year, the company posted $1.41 EPS. The business’s quarterly revenue was up 15.0% compared to the same quarter last year. As a group, analysts expect that Trane Technologies plc will post 10.47 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend is Thursday, June 6th. Trane Technologies’s dividend payout ratio is 35.90%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on TT. Barclays boosted their price target on Trane Technologies from $286.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Wells Fargo & Company increased their target price on shares of Trane Technologies from $281.00 to $295.00 and gave the stock an “underweight” rating in a report on Thursday. Robert W. Baird lifted their price target on shares of Trane Technologies from $315.00 to $344.00 and gave the company a “neutral” rating in a report on Wednesday. TD Cowen raised their target price on shares of Trane Technologies from $325.00 to $360.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Stephens increased their price target on Trane Technologies from $310.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Trane Technologies presently has an average rating of “Hold” and a consensus price target of $300.54.

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.