Clifford Swan Investment Counsel LLC Sells 3,699 Shares of Trane Technologies plc $TT

Key Points

• Clifford Swan Investment Counsel LLC cut its Trane Technologies stake by 33.7% in the first quarter, selling 3,699 shares and leaving it with 7,268 shares worth about $3.03 million.
• Wall Street sentiment remains broadly positive, with analysts holding a Moderate Buy consensus and an average price target of $516.67; several firms recently raised targets, including Barclays to $585.
• Trane Technologies reported better-than-expected Q1 results with EPS of $2.63 and revenue of $4.97 billion, and it also announced a quarterly dividend of $1.05 per share.

Clifford Swan Investment Counsel LLC decreased its position in Trane Technologies plc (NYSE:TT - Free Report) by 33.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 7,268 shares of the company's stock after selling 3,699 shares during the quarter. Clifford Swan Investment Counsel LLC's holdings in Trane Technologies were worth $3,029,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in TT. Tucker Asset Management LLC bought a new position in Trane Technologies during the 4th quarter valued at about $25,000. JPL Wealth Management LLC bought a new stake in Trane Technologies during the third quarter worth about $32,000. Physician Wealth Advisors Inc. increased its holdings in shares of Trane Technologies by 192.6% during the first quarter. Physician Wealth Advisors Inc. now owns 79 shares of the company's stock worth $33,000 after buying an additional 52 shares in the last quarter. Frazier Financial Advisors LLC acquired a new stake in shares of Trane Technologies during the first quarter worth approximately $33,000. Finally, Hilton Head Capital Partners LLC bought a new position in shares of Trane Technologies in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. increased their price target on Trane Technologies from $460.00 to $476.00 and gave the stock a "neutral" rating in a research report on Thursday, May 14th. BNP Paribas Exane started coverage on Trane Technologies in a research report on Tuesday, April 14th. They issued an "outperform" rating and a $550.00 price objective for the company. Weiss Ratings reissued a "buy (b)" rating on shares of Trane Technologies in a research note on Monday, April 20th. Barclays increased their target price on Trane Technologies from $507.00 to $585.00 and gave the stock an "overweight" rating in a report on Friday, May 1st. Finally, Sanford C. Bernstein set a $555.00 target price on Trane Technologies in a research note on Thursday, July 9th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $516.67.

Insider Buying and Selling at Trane Technologies

In other news, insider Donald E. Simmons sold 4,593 shares of the company's 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 transaction, the insider owned 3,819 shares of the company's stock, valued at $1,909,500. This represents a 54.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, 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 insiders.

Trane Technologies Price Performance

TT opened at $469.59 on Friday. Trane Technologies plc has a one year low of $348.06 and a one year high of $505.87. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77. The company's 50 day simple moving average is $469.88 and its 200-day simple moving average is $446.98. The stock has a market capitalization of $103.80 billion, a P/E ratio of 36.32, a price-to-earnings-growth ratio of 2.16 and a beta of 1.19.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings data on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.10. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The firm had revenue of $4.97 billion during the quarter, compared to analysts' expectations of $4.81 billion. During the same quarter in the previous year, the company posted $2.45 EPS. Trane Technologies's revenue was up 6.0% on a year-over-year basis. Sell-side analysts anticipate that Trane Technologies plc will post 14.89 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

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

Trane Technologies Company Profile

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.

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