Trane Technologies plc (NYSE:TT) Shares Sold by Marietta Investment Partners LLC

Key Points

• Marietta Investment Partners LLC reduced its holdings in Trane Technologies plc by 17.4%, now owning 19,677 shares worth approximately $6.63 million.
• Trane Technologies reported $2.45 EPS for the last quarter, beating estimates and reflecting a year-over-year revenue increase of 11.2%.
• The company announced a quarterly dividend of $0.94 per share, which will be paid on September 30th, with a dividend yield of 0.80%.

Marietta Investment Partners LLC trimmed its stake in Trane Technologies plc (NYSE:TT - Free Report) by 17.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,677 shares of the company's stock after selling 4,155 shares during the period. Trane Technologies accounts for approximately 1.6% of Marietta Investment Partners LLC's holdings, making the stock its 19th largest position. Marietta Investment Partners LLC's holdings in Trane Technologies were worth $6,630,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of TT. WFA Asset Management Corp grew its position in shares of Trane Technologies by 208.3% during the first quarter. WFA Asset Management Corp now owns 74 shares of the company's stock valued at $25,000 after purchasing an additional 50 shares in the last quarter. Minot DeBlois Advisors LLC purchased a new position in shares of Trane Technologies during the fourth quarter valued at about $26,000. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Trane Technologies during the fourth quarter valued at about $28,000. Opal Wealth Advisors LLC purchased a new position in shares of Trane Technologies during the first quarter valued at about $31,000. Finally, Bogart Wealth LLC increased its holdings in shares of Trane Technologies by 97.9% in the 1st quarter. Bogart Wealth LLC now owns 93 shares of the company's stock worth $31,000 after buying an additional 46 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the company's stock in a transaction dated Wednesday, April 30th. The shares were 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 owned 3,593 shares in the company, valued at approximately $1,365,340. This represents a 49.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.38% of the company's stock.

Trane Technologies Trading Up 0.1%

Shares of Trane Technologies stock traded up $0.38 on Monday, hitting $472.45. 1,209,811 shares of the company traded hands, compared to its average volume of 1,020,104. The company has a market cap of $105.37 billion, a PE ratio of 40.24, a PEG ratio of 3.07 and a beta of 1.15. The stock's 50 day moving average price is $433.17 and its 200-day moving average price is $386.23. 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 plc has a 52 week low of $298.15 and a 52 week high of $476.19.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.25. Trane Technologies had a net margin of 13.47% and a return on equity of 36.10%. The business had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same period in the previous year, the company earned $1.94 earnings per share. The business's revenue for the quarter was up 11.2% on a year-over-year basis. Equities research analysts predict that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date of this dividend is Friday, September 5th. Trane Technologies's payout ratio is presently 31.28%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on TT shares. Citigroup increased their price target on shares of Trane Technologies from $445.00 to $502.00 and gave the company a "buy" rating in a report on Monday, July 14th. 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 report on Thursday, May 1st. UBS Group lifted their price objective on shares of Trane Technologies from $470.00 to $500.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. JPMorgan Chase & Co. boosted their price objective on shares of Trane Technologies from $334.00 to $400.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Finally, HSBC raised shares of Trane Technologies from a "hold" rating to a "buy" rating and raised their price objective for the stock from $405.00 to $415.00 in a research note on Friday, April 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $441.40.

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.