Figure 8 Investment Strategies LLC Cuts Stock Holdings in Trane Technologies plc (NYSE:TT)

Figure 8 Investment Strategies LLC lowered its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 15.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,772 shares of the company's stock after selling 2,209 shares during the period. Trane Technologies accounts for approximately 4.2% of Figure 8 Investment Strategies LLC's portfolio, making the stock its 4th largest holding. Figure 8 Investment Strategies LLC's holdings in Trane Technologies were worth $3,966,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in TT. CWA Asset Management Group LLC increased its holdings in shares of Trane Technologies by 19.2% in the first quarter. CWA Asset Management Group LLC now owns 1,135 shares of the company's stock worth $382,000 after purchasing an additional 183 shares during the period. Ethic Inc. increased its holdings in shares of Trane Technologies by 150.1% in the fourth quarter. Ethic Inc. now owns 24,883 shares of the company's stock worth $9,190,000 after purchasing an additional 14,932 shares during the period. Proficio Capital Partners LLC increased its holdings in shares of Trane Technologies by 28.3% in the fourth quarter. Proficio Capital Partners LLC now owns 685 shares of the company's stock worth $253,000 after purchasing an additional 151 shares during the period. Brighton Jones LLC increased its holdings in shares of Trane Technologies by 60.0% in the fourth quarter. Brighton Jones LLC now owns 6,194 shares of the company's stock worth $2,288,000 after purchasing an additional 2,323 shares during the period. Finally, Beacon Pointe Advisors LLC increased its holdings in shares of Trane Technologies by 1.3% in the fourth quarter. Beacon Pointe Advisors LLC now owns 8,137 shares of the company's stock worth $3,005,000 after purchasing an additional 101 shares during the period. Hedge funds and other institutional investors own 82.97% of the company's stock.

Trane Technologies Trading Up 0.5%

Shares of NYSE:TT traded up $2.21 on Tuesday, reaching $429.13. 760,190 shares of the company traded hands, compared to its average volume of 1,343,373. The business's 50-day simple moving average is $404.43 and its 200 day simple moving average is $377.15. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $436.61. The stock has a market capitalization of $95.70 billion, a P/E ratio of 35.70, a price-to-earnings-growth ratio of 2.81 and a beta of 1.16. The company has a current ratio of 1.09, a quick ratio of 0.74 and a debt-to-equity ratio of 0.52.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.20 by $0.25. Trane Technologies had a return on equity of 36.10% and a net margin of 13.47%. The firm had revenue of $4.69 billion for the quarter, compared to analysts' expectations of $4.46 billion. During the same period last year, the firm earned $1.94 earnings per share. The company's revenue for the quarter was up 11.2% compared to the same quarter last year. As a group, equities analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be paid a dividend of $0.94 per share. The ex-dividend date is Friday, September 5th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.88%. Trane Technologies's dividend payout ratio (DPR) is currently 31.28%.

Analysts Set New Price Targets

Several research firms have recently weighed in on TT. Citigroup upped their price target on shares of Trane Technologies from $415.00 to $445.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. HSBC upgraded Trane Technologies from a "hold" rating to a "buy" rating and raised their price target for the company from $405.00 to $415.00 in a research report on Friday, April 25th. Royal Bank Of Canada raised their price target on Trane Technologies from $363.00 to $408.00 and gave the company a "sector perform" rating in a research report on Thursday, May 1st. Barclays lowered their price target on Trane Technologies from $500.00 to $475.00 and set an "overweight" rating on the stock in a research report on Monday, March 10th. Finally, Stephens upgraded Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price target on the stock in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Trane Technologies presently has an average rating of "Moderate Buy" and an average price target of $427.47.

Insider Buying and Selling

In related news, insider Donald E. Simmons sold 3,571 shares of the firm's stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total value of $1,356,980.00. Following the sale, the insider now directly owns 3,593 shares of the company's stock, valued at $1,365,340. This trade represents a 49.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.38% of the stock is owned by insiders.

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.