Clearbridge Investments LLC Sells 19,604 Shares of Trane Technologies plc (NYSE:TT)

Clearbridge Investments LLC lowered its stake in Trane Technologies plc (NYSE:TT - Free Report) by 12.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 132,745 shares of the company's stock after selling 19,604 shares during the quarter. Clearbridge Investments LLC owned 0.06% of Trane Technologies worth $49,029,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in TT. Global Wealth Strategies & Associates purchased a new position in Trane Technologies during the 4th quarter valued at about $26,000. Sound Income Strategies LLC increased its stake in shares of Trane Technologies by 1,314.3% during the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company's stock valued at $37,000 after buying an additional 92 shares during the period. Flagship Wealth Advisors LLC bought a new position in shares of Trane Technologies during the fourth quarter valued at approximately $37,000. Golden State Wealth Management LLC purchased a new stake in Trane Technologies in the fourth quarter worth $39,000. Finally, Legacy Investment Solutions LLC bought a new stake in Trane Technologies in the third quarter valued at $44,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on TT shares. Barclays dropped their target price on shares of Trane Technologies from $500.00 to $475.00 and set an "overweight" rating for the company in a research report on Monday, March 10th. Royal Bank of Canada raised their price objective on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a "sector perform" rating in a report on Friday, January 3rd. Citigroup cut their price objective on Trane Technologies from $478.00 to $476.00 and set a "buy" rating on the stock in a research report on Monday, January 13th. Wells Fargo & Company decreased their target price on Trane Technologies from $380.00 to $360.00 and set an "underweight" rating for the company in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. lifted their price target on Trane Technologies from $387.00 to $396.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Trane Technologies presently has an average rating of "Hold" and an average target price of $413.69.

Trane Technologies Stock Down 3.9 %

NYSE:TT traded down $12.86 on Friday, reaching $318.18. 2,057,046 shares of the stock traded hands, compared to its average volume of 1,269,148. 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 $71.36 billion, a price-to-earnings ratio of 28.28, a PEG ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a 12 month low of $286.32 and a 12 month high of $422.00. The company's fifty day simple moving average is $351.63 and its 200 day simple moving average is $378.95.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. Equities analysts predict that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date is Friday, June 6th. Trane Technologies's payout ratio is currently 33.42%.

Insider Activity at Trane Technologies

In related news, SVP Mairead Magner sold 198 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total transaction of $70,806.78. Following the transaction, the senior vice president now owns 13,401 shares in the company, valued at $4,792,331.61. This represents a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David S. Regnery sold 2,754 shares of the firm's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total transaction of $984,114.36. Following the completion of the sale, the chief executive officer now owns 132,969 shares in the company, valued at $47,515,142.46. This represents a 2.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,234 shares of company stock valued at $2,588,102 over the last ninety days. Insiders own 0.38% of the company's stock.

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.