Financial Insights Inc. Sells 1,587 Shares of Trane Technologies plc (NYSE:TT)

Financial Insights Inc. lowered its stake in Trane Technologies plc (NYSE:TT - Free Report) by 61.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 983 shares of the company's stock after selling 1,587 shares during the quarter. Financial Insights Inc.'s holdings in Trane Technologies were worth $363,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of TT. Minot DeBlois Advisors LLC bought a new position in Trane Technologies during the 4th quarter valued at $26,000. Vermillion & White Wealth Management Group LLC bought a new position in Trane Technologies during the 4th quarter valued at $28,000. Flagship Wealth Advisors LLC bought a new position in Trane Technologies during the 4th quarter valued at $37,000. Golden State Wealth Management LLC bought a new position in Trane Technologies during the 4th quarter valued at $39,000. Finally, BankPlus Trust Department bought a new stake in shares of Trane Technologies during the 4th quarter worth $45,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Insider Buying and Selling

In other news, insider Donald E. Simmons sold 3,571 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 3,593 shares in the company, valued at $1,365,340. This trade represents a 49.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.38% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Barclays lowered their target price on Trane Technologies from $500.00 to $475.00 and set an "overweight" rating on the stock in a research note on Monday, March 10th. Citigroup lifted their target price on Trane Technologies from $415.00 to $445.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Stephens upgraded Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price objective on the stock in a research note on Thursday, May 1st. UBS Group boosted their price objective on Trane Technologies from $470.00 to $500.00 and gave the company a "buy" rating in a research note on Thursday, May 22nd. Finally, Robert W. Baird lifted their target price on Trane Technologies from $360.00 to $396.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $427.47.

Trane Technologies Price Performance

NYSE:TT traded down $2.12 during mid-day trading on Friday, reaching $430.17. The stock had a trading volume of 2,264,866 shares, compared to its average volume of 1,357,258. The firm has a 50 day moving average price of $373.99 and a two-hundred day moving average price of $376.03. The stock has a market capitalization of $95.94 billion, a P/E ratio of 38.24, a P/E/G ratio of 2.50 and a beta of 1.14. Trane Technologies plc has a one year low of $298.15 and a one year high of $436.61. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21.

Trane Technologies (NYSE:TT - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, topping analysts' consensus estimates of $2.20 by $0.25. The company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.46 billion. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. Trane Technologies's quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.94 EPS. As a group, analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be given a $0.94 dividend. The ex-dividend date is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a yield of 0.87%. Trane Technologies's payout ratio is 31.28%.

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.