Shorepoint Capital Partners LLC Has $5.11 Million Position in Trane Technologies plc (NYSE:TT)

Shorepoint Capital Partners LLC lowered its stake in Trane Technologies plc (NYSE:TT - Free Report) by 8.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 13,847 shares of the company's stock after selling 1,289 shares during the period. Trane Technologies accounts for approximately 1.2% of Shorepoint Capital Partners LLC's holdings, making the stock its 29th biggest holding. Shorepoint Capital Partners LLC's holdings in Trane Technologies were worth $5,114,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of TT. Global Wealth Strategies & Associates bought a new stake in shares of Trane Technologies during the 4th quarter valued at about $26,000. Sound Income Strategies LLC grew its holdings in shares of Trane Technologies by 1,314.3% during the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company's stock valued at $37,000 after purchasing an additional 92 shares during the last quarter. Flagship Wealth Advisors LLC acquired a new stake in shares of Trane Technologies during the 4th quarter worth approximately $37,000. Golden State Wealth Management LLC bought a new stake in shares of Trane Technologies in the 4th quarter worth approximately $39,000. Finally, BankPlus Trust Department acquired a new position in Trane Technologies during the 4th quarter valued at approximately $45,000. Institutional investors own 82.97% of the company's stock.

Trane Technologies Trading Up 2.2 %

TT traded up $8.71 during trading on Friday, reaching $401.33. The company had a trading volume of 680,660 shares, compared to its average volume of 1,314,599. The firm's 50-day simple moving average is $343.25 and its 200 day simple moving average is $372.19. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. The company has a market cap of $90.01 billion, a price-to-earnings ratio of 35.69, a PEG ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $422.00.

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, beating analysts' consensus estimates of $2.20 by $0.25. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. The business had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same quarter in the previous year, the business earned $1.94 earnings per share. The firm's revenue was up 11.2% compared to the same quarter last year. Equities research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 0.94%. The ex-dividend date is Friday, June 6th. Trane Technologies's dividend payout ratio is currently 33.42%.

Insiders Place Their Bets

In other Trane Technologies news, SVP Mairead Magner sold 198 shares of the company's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total value of $70,806.78. Following the transaction, the senior vice president now directly owns 13,401 shares of the company's stock, valued at $4,792,331.61. This represents a 1.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Donald E. Simmons sold 3,571 shares of Trane Technologies 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 approximately $1,365,340. This represents a 49.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,805 shares of company stock worth $3,945,082. 0.38% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on TT shares. Hsbc Global Res raised Trane Technologies from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Melius lowered Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 price objective for the company. in a report on Tuesday, January 28th. Citigroup lifted their target price on Trane Technologies from $415.00 to $445.00 and gave the company a "buy" rating in a research note on Thursday. Melius Research reaffirmed a "hold" rating and issued a $398.00 price objective on shares of Trane Technologies in a report on Tuesday, January 28th. Finally, Royal Bank of Canada boosted their target price on Trane Technologies from $363.00 to $408.00 and gave the stock a "sector perform" rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $421.07.

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.