WCM Investment Management LLC Decreases Holdings in Trane Technologies plc (NYSE:TT)

WCM Investment Management LLC lessened its stake in shares of Trane Technologies plc (NYSE:TT) by 2.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,309 shares of the company’s stock after selling 116 shares during the quarter. WCM Investment Management LLC’s holdings in Trane Technologies were worth $1,294,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in shares of Trane Technologies by 36.4% in the third quarter. Wellington Management Group LLP now owns 1,639,058 shares of the company’s stock worth $332,581,000 after purchasing an additional 436,997 shares in the last quarter. CHICAGO TRUST Co NA increased its stake in shares of Trane Technologies by 2.1% in the fourth quarter. CHICAGO TRUST Co NA now owns 3,136 shares of the company’s stock worth $765,000 after purchasing an additional 64 shares in the last quarter. Graypoint LLC increased its stake in shares of Trane Technologies by 46.0% in the third quarter. Graypoint LLC now owns 2,043 shares of the company’s stock worth $414,000 after purchasing an additional 644 shares in the last quarter. Wealth Effects LLC purchased a new position in shares of Trane Technologies in the fourth quarter worth about $239,000. Finally, Invera Wealth Advisors LLC purchased a new position in shares of Trane Technologies in the fourth quarter worth about $4,097,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Trading Down 0.1 %

Shares of Trane Technologies stock opened at $296.96 on Monday. Trane Technologies plc has a 1 year low of $162.04 and a 1 year high of $306.98. The firm has a market cap of $67.43 billion, a PE ratio of 33.78, a PEG ratio of 2.51 and a beta of 1.05. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.13 and a quick ratio of 0.78. The company has a 50 day simple moving average of $287.68 and a two-hundred day simple moving average of $248.43.

Trane Technologies (NYSE:TT) last announced its earnings results on Thursday, February 1st. The company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.04. The business had revenue of $4.42 billion during the quarter, compared to analyst estimates of $4.43 billion. Trane Technologies had a net margin of 11.45% and a return on equity of 32.01%. Trane Technologies’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.82 earnings per share. Analysts expect that Trane Technologies plc will post 10.2 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a $0.84 dividend. The ex-dividend date is Thursday, June 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.13%. Trane Technologies’s payout ratio is 38.23%.

Analyst Upgrades and Downgrades

TT has been the subject of several recent research reports. The Goldman Sachs Group lifted their target price on shares of Trane Technologies from $253.00 to $287.00 and gave the stock a “neutral” rating in a research note on Monday, February 5th. Stephens boosted their price objective on shares of Trane Technologies from $235.00 to $280.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 6th. Citigroup boosted their price objective on shares of Trane Technologies from $309.00 to $355.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Wells Fargo & Company boosted their price objective on shares of Trane Technologies from $200.00 to $246.00 and gave the company an “underweight” rating in a research note on Tuesday, December 19th. Finally, Barclays boosted their price objective on shares of Trane Technologies from $286.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $251.83.

Insider Transactions at Trane Technologies

In related news, EVP Paul A. Camuti sold 508 shares of Trane Technologies stock in a transaction on Friday, February 9th. The shares were sold at an average price of $273.34, for a total value of $138,856.72. Following the transaction, the executive vice president now directly owns 89,447 shares of the company’s stock, valued at $24,449,442.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO David S. Regnery sold 6,990 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $286.19, for a total value of $2,000,468.10. Following the transaction, the chief executive officer now owns 113,874 shares in the company, valued at approximately $32,589,600.06. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Paul A. Camuti sold 508 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $273.34, for a total transaction of $138,856.72. Following the completion of the transaction, the executive vice president now owns 89,447 shares in the company, valued at approximately $24,449,442.98. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,874 shares of company stock worth $8,462,825. 0.39% of the stock is currently owned by insiders.

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.