Yousif Capital Management LLC Lowers Position in Trane Technologies plc $TT

Key Points

• Yousif Capital Management trimmed its Trane Technologies stake by 8.8% in Q4, selling 2,358 shares and leaving 24,516 shares valued at about $9.5 million, while institutional investors hold roughly 82.97% of the stock.
• Insiders have been net sellers, disposing of 49,378 shares worth about $21.2 million in the last 90 days (including sales by the CAO and Donald E. Simmons), leaving insiders with just 0.14% ownership.
• Analysts maintain a "Moderate Buy" consensus with an average target of $484.67 after Q4 results modestly beat estimates (EPS $2.86, revenue $5.14B), and the company declared a $1.05 quarterly dividend (annualized $4.20, ~0.9% yield).

Yousif Capital Management LLC lessened its stake in Trane Technologies plc (NYSE:TT - Free Report) by 8.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,516 shares of the company's stock after selling 2,358 shares during the quarter. Yousif Capital Management LLC's holdings in Trane Technologies were worth $9,496,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of TT. Financial Consulate Inc. bought a new stake in Trane Technologies in the third quarter worth $25,000. United Community Bank increased its position in Trane Technologies by 134.4% in the third quarter. United Community Bank now owns 75 shares of the company's stock worth $32,000 after purchasing an additional 43 shares during the last quarter. JPL Wealth Management LLC bought a new stake in Trane Technologies in the third quarter worth $32,000. KERR FINANCIAL PLANNING Corp bought a new stake in Trane Technologies in the third quarter worth $42,000. Finally, Halbert Hargrove Global Advisors LLC increased its position in Trane Technologies by 34.2% in the third quarter. Halbert Hargrove Global Advisors LLC now owns 102 shares of the company's stock worth $43,000 after purchasing an additional 26 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on TT shares. Barclays boosted their price target on shares of Trane Technologies from $505.00 to $507.00 and gave the stock an "overweight" rating in a research report on Friday, January 30th. Weiss Ratings restated a "buy (b)" rating on shares of Trane Technologies in a research report on Wednesday, January 21st. Citigroup boosted their price target on shares of Trane Technologies from $513.00 to $525.00 and gave the stock a "buy" rating in a research report on Friday, January 30th. Wells Fargo & Company boosted their price target on shares of Trane Technologies from $375.00 to $400.00 and gave the stock an "underweight" rating in a research report on Friday, January 30th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Trane Technologies from $434.00 to $460.00 and gave the stock a "neutral" rating in a research report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Trane Technologies currently has an average rating of "Moderate Buy" and an average target price of $484.67.

Insider Activity

In other Trane Technologies news, CAO Elizabeth A. Elwell sold 635 shares of the stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $422.70, for a total transaction of $268,414.50. Following the completion of the sale, the chief accounting officer directly owned 7,100 shares of the company's stock, valued at approximately $3,001,170. This represents a 8.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Donald E. Simmons sold 3,762 shares of the stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $422.70, for a total transaction of $1,590,197.40. Following the sale, the insider directly owned 3,819 shares of the company's stock, valued at approximately $1,614,291.30. The trade was a 49.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 49,378 shares of company stock valued at $21,228,464. Corporate insiders own 0.14% of the company's stock.

Trane Technologies Stock Up 4.1%

NYSE:TT opened at $449.76 on Thursday. Trane Technologies plc has a 1-year low of $310.80 and a 1-year high of $479.37. The company has a 50-day moving average of $439.37 and a 200 day moving average of $418.83. The firm has a market cap of $99.55 billion, a PE ratio of 34.65, a price-to-earnings-growth ratio of 2.25 and a beta of 1.21. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.92.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, topping analysts' consensus estimates of $2.81 by $0.05. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The company had revenue of $5.14 billion during the quarter, compared to analyst estimates of $5.09 billion. During the same period in the prior year, the firm earned $2.61 earnings per share. The firm's revenue for the quarter was up 5.6% compared to the same quarter last year. As a group, research analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th will be given a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, June 5th. Trane Technologies's dividend payout ratio is presently 32.36%.

Trane Technologies 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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