Foresight Group Ltd Liability Partnership Sells 409 Shares of Trane Technologies plc (NYSE:TT)

Foresight Group Ltd Liability Partnership cut its holdings in Trane Technologies plc (NYSE:TT) by 12.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,828 shares of the company’s stock after selling 409 shares during the period. Trane Technologies comprises approximately 0.5% of Foresight Group Ltd Liability Partnership’s investment portfolio, making the stock its 20th biggest holding. Foresight Group Ltd Liability Partnership’s holdings in Trane Technologies were worth $1,099,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Swedbank AB acquired a new position in Trane Technologies during the first quarter worth $206,211,000. 1832 Asset Management L.P. increased its holdings in Trane Technologies by 7,363.1% during the second quarter. 1832 Asset Management L.P. now owns 422,785 shares of the company’s stock worth $139,067,000 after buying an additional 417,120 shares during the last quarter. TD Asset Management Inc increased its holdings in Trane Technologies by 41.2% during the first quarter. TD Asset Management Inc now owns 1,060,632 shares of the company’s stock worth $318,402,000 after buying an additional 309,738 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in Trane Technologies by 162.7% during the second quarter. Point72 Asset Management L.P. now owns 447,705 shares of the company’s stock worth $147,263,000 after buying an additional 277,274 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in Trane Technologies by 379.2% during the first quarter. Sei Investments Co. now owns 306,165 shares of the company’s stock worth $91,909,000 after buying an additional 242,271 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Trading Down 2.1 %

Shares of Trane Technologies stock opened at $392.20 on Wednesday. The firm has a 50-day moving average of $371.79 and a 200-day moving average of $341.11. The stock has a market cap of $88.78 billion, a PE ratio of 41.90, a PEG ratio of 2.75 and a beta of 1.01. Trane Technologies plc has a 52-week low of $184.02 and a 52-week high of $406.96. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.84 and a current ratio of 1.17.

Trane Technologies (NYSE:TT) last announced its earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.08 by $0.22. The company had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.13 billion. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. Trane Technologies’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.68 earnings per share. As a group, sell-side analysts forecast that Trane Technologies plc will post 10.88 EPS for the current year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 annualized dividend and a yield of 0.86%. Trane Technologies’s dividend payout ratio is 35.90%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on TT shares. Mizuho boosted their target price on shares of Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Robert W. Baird boosted their target price on shares of Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. The Goldman Sachs Group boosted their target price on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Barclays upped their price objective on shares of Trane Technologies from $394.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Finally, Royal Bank of Canada upped their price objective on shares of Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $373.58.

Insider Buying and Selling

In related news, CEO David S. Regnery sold 29,450 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the completion of the sale, the chief executive officer now owns 132,946 shares of the company’s stock, valued at $42,708,902.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Raymond D. Pittard sold 1,805 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total transaction of $593,213.25. Following the completion of the sale, the executive vice president now owns 83,517 shares of the company’s stock, valued at $27,447,862.05. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO David S. Regnery sold 29,450 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total value of $9,460,812.50. Following the transaction, the chief executive officer now directly owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by company insiders.

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.