Martin & Co. Inc. TN Decreases Position in Trane Technologies plc (NYSE:TT)

Martin & Co. Inc. TN lessened its holdings in Trane Technologies plc (NYSE:TT) by 2.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 40,842 shares of the company’s stock after selling 1,191 shares during the period. Trane Technologies makes up approximately 2.0% of Martin & Co. Inc. TN’s portfolio, making the stock its 11th largest position. Martin & Co. Inc. TN’s holdings in Trane Technologies were worth $7,811,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TT. Monte Financial Group LLC raised its holdings in shares of Trane Technologies by 45.4% in the 2nd quarter. Monte Financial Group LLC now owns 4,596 shares of the company’s stock valued at $879,000 after purchasing an additional 1,435 shares in the last quarter. Illinois Municipal Retirement Fund raised its holdings in shares of Trane Technologies by 295.4% in the 2nd quarter. Illinois Municipal Retirement Fund now owns 33,858 shares of the company’s stock valued at $6,476,000 after purchasing an additional 25,296 shares in the last quarter. Merit Financial Group LLC raised its stake in Trane Technologies by 2.4% during the 2nd quarter. Merit Financial Group LLC now owns 3,325 shares of the company’s stock worth $636,000 after acquiring an additional 79 shares in the last quarter. Sandy Spring Bank raised its stake in Trane Technologies by 6.8% during the 2nd quarter. Sandy Spring Bank now owns 11,300 shares of the company’s stock worth $2,161,000 after acquiring an additional 724 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in Trane Technologies by 17.9% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,920 shares of the company’s stock worth $353,000 after acquiring an additional 292 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Trane Technologies Price Performance

TT stock traded down $1.21 during trading on Monday, reaching $227.41. 216,910 shares of the company were exchanged, compared to its average volume of 1,342,362. The company has a market cap of $51.75 billion, a P/E ratio of 26.93, a PEG ratio of 1.85 and a beta of 1.01. Trane Technologies plc has a 52-week low of $162.04 and a 52-week high of $229.94. The stock’s 50 day moving average price is $205.29 and its 200 day moving average price is $194.99. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.87 and a current ratio of 1.29.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Wednesday, November 1st. The company reported $2.79 EPS for the quarter, topping analysts’ consensus estimates of $2.66 by $0.13. The firm had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.80 billion. Trane Technologies had a net margin of 11.30% and a return on equity of 31.97%. The firm’s revenue was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.27 earnings per share. As a group, analysts predict that Trane Technologies plc will post 9.01 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 1st will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend is Thursday, November 30th. Trane Technologies’s dividend payout ratio is currently 35.34%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Mizuho lifted their price target on shares of Trane Technologies from $185.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, August 3rd. HSBC assumed coverage on shares of Trane Technologies in a research note on Friday, September 15th. They set a “buy” rating and a $256.00 price target on the stock. Barclays lifted their price target on shares of Trane Technologies from $222.00 to $226.00 and gave the stock an “overweight” rating in a research note on Thursday, November 2nd. Wells Fargo & Company cut their price target on shares of Trane Technologies from $195.00 to $190.00 in a research note on Monday, October 9th. Finally, JPMorgan Chase & Co. raised shares of Trane Technologies from an “underweight” rating to a “neutral” rating and set a $191.00 price objective on the stock in a research report on Friday, October 6th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $207.31.

Insider Buying and Selling

In other Trane Technologies news, CEO David S. Regnery sold 17,585 shares of Trane Technologies stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $220.00, for a total transaction of $3,868,700.00. Following the completion of the transaction, the chief executive officer now owns 93,081 shares in the company, valued at $20,477,820. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Raymond D. Pittard sold 13,144 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $218.24, for a total transaction of $2,868,546.56. Following the transaction, the executive vice president now owns 82,235 shares of the company’s stock, valued at $17,946,966.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David S. Regnery sold 17,585 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $220.00, for a total transaction of $3,868,700.00. Following the transaction, the chief executive officer now directly owns 93,081 shares in the company, valued at approximately $20,477,820. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,366 shares of company stock valued at $7,093,065. Corporate insiders own 0.39% of the company’s stock.

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.