Elyxium Wealth LLC Reduces Stake in Trane Technologies plc (NYSE:TT)

Elyxium Wealth LLC lessened its stake in Trane Technologies plc (NYSE:TT - Free Report) by 83.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 670 shares of the company's stock after selling 3,460 shares during the quarter. Elyxium Wealth LLC's holdings in Trane Technologies were worth $247,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in TT. Ensign Peak Advisors Inc increased its position in Trane Technologies by 42.7% during the 4th quarter. Ensign Peak Advisors Inc now owns 71,632 shares of the company's stock worth $26,457,000 after buying an additional 21,451 shares during the period. Ethic Inc. grew its position in Trane Technologies by 150.1% in the fourth quarter. Ethic Inc. now owns 24,883 shares of the company's stock valued at $9,190,000 after acquiring an additional 14,932 shares during the last quarter. Fiduciary Trust Co grew its position in Trane Technologies by 6.9% in the fourth quarter. Fiduciary Trust Co now owns 10,568 shares of the company's stock valued at $3,903,000 after acquiring an additional 678 shares during the last quarter. Clark Capital Management Group Inc. grew its position in Trane Technologies by 15.8% in the fourth quarter. Clark Capital Management Group Inc. now owns 2,523 shares of the company's stock valued at $932,000 after acquiring an additional 345 shares during the last quarter. Finally, Deutsche Bank AG grew its position in Trane Technologies by 47.3% in the fourth quarter. Deutsche Bank AG now owns 867,428 shares of the company's stock valued at $320,385,000 after acquiring an additional 278,711 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Insider Buying and Selling at Trane Technologies

In other news, insider Donald E. Simmons sold 3,571 shares of the company's stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David S. Regnery sold 2,318 shares of the company's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $358.17, for a total value of $830,238.06. Following the transaction, the chief executive officer now directly owns 126,831 shares in the company, valued at $45,427,059.27. This represents a 1.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,977 shares of company stock worth $2,577,061 in the last quarter. 0.38% of the stock is currently owned by company insiders.

Trane Technologies Stock Down 0.3%

Trane Technologies stock traded down $1.33 during trading on Friday, hitting $404.32. 1,914,403 shares of the company were exchanged, compared to its average volume of 1,338,942. The business's 50 day moving average is $350.05 and its 200 day moving average is $372.15. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $422.00. The company has a market capitalization of $90.17 billion, a P/E ratio of 35.94, a PEG ratio of 2.50 and a beta of 1.14. 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 announced its quarterly earnings data 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 firm had revenue of $4.69 billion during 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%. The business's revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.94 EPS. Analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be paid a $0.94 dividend. The ex-dividend date is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a yield of 0.93%. Trane Technologies's dividend payout ratio (DPR) is presently 31.28%.

Analyst Ratings Changes

TT has been the topic of a number of recent analyst reports. HSBC upgraded Trane Technologies from a "hold" rating to a "buy" rating and lifted 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 target price on the stock in a research report on Thursday, May 1st. Royal Bank of Canada lifted their target price on Trane Technologies from $363.00 to $408.00 and gave the company a "sector perform" rating in a research report on Thursday, May 1st. Citigroup boosted their price target on Trane Technologies from $415.00 to $445.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Finally, Barclays reduced their price target 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 analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Trane Technologies currently has a consensus rating of "Moderate Buy" and a consensus target price of $421.07.

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.