Janney Montgomery Scott LLC Trims Stock Holdings in Trane Technologies plc (NYSE:TT)

Janney Montgomery Scott LLC cut its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 16.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 93,505 shares of the company's stock after selling 18,476 shares during the quarter. Janney Montgomery Scott LLC's holdings in Trane Technologies were worth $31,504,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quadrant Capital Group LLC increased its position in shares of Trane Technologies by 0.8% during the fourth quarter. Quadrant Capital Group LLC now owns 3,786 shares of the company's stock worth $1,398,000 after acquiring an additional 30 shares during the period. Prossimo Advisors LLC boosted its holdings in shares of Trane Technologies by 0.7% in the fourth quarter. Prossimo Advisors LLC now owns 4,463 shares of the company's stock valued at $1,648,000 after purchasing an additional 32 shares during the period. Tortoise Investment Management LLC grew its stake in Trane Technologies by 6.5% in the fourth quarter. Tortoise Investment Management LLC now owns 537 shares of the company's stock worth $198,000 after purchasing an additional 33 shares in the last quarter. Foster Group Inc. increased its holdings in Trane Technologies by 1.2% during the 1st quarter. Foster Group Inc. now owns 2,833 shares of the company's stock worth $954,000 after purchasing an additional 33 shares during the period. Finally, Prosperity Consulting Group LLC raised its position in Trane Technologies by 0.6% during the 4th quarter. Prosperity Consulting Group LLC now owns 6,036 shares of the company's stock valued at $2,229,000 after purchasing an additional 35 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Insider Buying and Selling

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 sale, the insider now owns 3,593 shares of the company's stock, valued at $1,365,340. This represents a 49.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.38% of the stock is currently owned by insiders.

Trane Technologies Stock Performance

Shares of NYSE TT traded down $2.32 during midday trading on Wednesday, reaching $419.63. 1,708,536 shares of the company were exchanged, compared to its average volume of 1,347,848. The stock has a fifty day simple moving average of $396.52 and a 200 day simple moving average of $376.85. The company has a current ratio of 1.09, a quick ratio of 0.74 and a debt-to-equity ratio of 0.52. The stock has a market cap of $93.58 billion, a P/E ratio of 34.91, a PEG ratio of 2.80 and a beta of 1.16. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $436.61.

Trane Technologies (NYSE:TT - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, beating 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 the consensus estimate of $4.46 billion. During the same quarter in the previous year, the firm earned $1.94 earnings per share. The business's quarterly revenue was up 11.2% compared to the same quarter last year. On average, research analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 0.90%. The ex-dividend date is Friday, September 5th. Trane Technologies's payout ratio is currently 31.28%.

Analyst Ratings Changes

Several research analysts have issued reports on TT shares. Royal Bank Of Canada increased their target price on shares of Trane Technologies from $363.00 to $408.00 and gave the stock a "sector perform" rating in a report on Thursday, May 1st. Barclays reduced their price objective on shares of Trane Technologies from $500.00 to $475.00 and set an "overweight" rating for the company in a research note on Monday, March 10th. HSBC raised Trane Technologies from a "hold" rating to a "buy" rating and increased their target price for the company from $405.00 to $415.00 in a research report on Friday, April 25th. 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. Finally, Robert W. Baird upped their price objective on Trane Technologies from $360.00 to $396.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Trane Technologies has a consensus rating of "Moderate Buy" and an average target price of $427.47.

About Trane Technologies

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.