Shorepoint Capital Partners LLC Sells 1,289 Shares of Trane Technologies plc (NYSE:TT)

Shorepoint Capital Partners LLC cut its position in Trane Technologies plc (NYSE:TT - Free Report) by 8.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,847 shares of the company's stock after selling 1,289 shares during the period. Trane Technologies accounts for about 1.2% of Shorepoint Capital Partners LLC's investment portfolio, making the stock its 29th biggest position. Shorepoint Capital Partners LLC's holdings in Trane Technologies were worth $5,114,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TT. Global Wealth Strategies & Associates acquired a new stake in shares of Trane Technologies in the 4th quarter valued at $26,000. Sound Income Strategies LLC grew its stake 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 worth $37,000 after purchasing an additional 92 shares during the period. Flagship Wealth Advisors LLC acquired a new stake in shares of Trane Technologies during the fourth quarter worth $37,000. Golden State Wealth Management LLC acquired a new stake in shares of Trane Technologies during the fourth quarter worth $39,000. Finally, BankPlus Trust Department acquired a new stake in shares of Trane Technologies during the fourth quarter worth $45,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TT. Melius Research reaffirmed a "hold" rating and set a $398.00 price objective on shares of Trane Technologies in a research note on Tuesday, January 28th. Melius cut Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 price objective for the company. in a research note on Tuesday, January 28th. UBS Group decreased their price objective on Trane Technologies from $500.00 to $470.00 and set a "buy" rating for the company in a research note on Friday, January 31st. JPMorgan Chase & Co. reduced their target price on Trane Technologies from $396.00 to $323.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Finally, Barclays reduced their target price on Trane Technologies from $500.00 to $475.00 and set an "overweight" rating on the stock in a report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $405.94.

Trane Technologies Stock Up 8.4 %

Shares of Trane Technologies stock traded up $29.84 during trading on Wednesday, reaching $383.28. The stock had a trading volume of 2,579,184 shares, compared to its average volume of 1,314,120. The company has a market capitalization of $85.97 billion, a price-to-earnings ratio of 34.07, a P/E/G ratio of 2.50 and a beta of 1.08. The stock has a fifty day moving average price of $341.74 and a two-hundred day moving average price of $372.20. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $422.00. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT - Get Free Report) last released its 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. The business had revenue of $4.69 billion for 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.94 earnings per share. Sell-side analysts predict that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The business 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. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend is Friday, June 6th. Trane Technologies's dividend payout ratio is currently 33.42%.

Insider Activity at Trane Technologies

In other Trane Technologies news, SVP Evan M. Turtz sold 318 shares of the business's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $358.12, for a total transaction of $113,882.16. Following the transaction, the senior vice president now owns 20,513 shares of the company's stock, valued at $7,346,115.56. The trade was a 1.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Mairead Magner sold 198 shares of the business's stock in a transaction that occurred on 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 in the company, valued at approximately $4,792,331.61. This trade represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,234 shares of company stock valued at $2,588,102. 0.38% of the stock is owned by insiders.

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.