Clear Harbor Asset Management LLC Reduces Stock Position in Trane Technologies plc (NYSE:TT)

Clear Harbor Asset Management LLC trimmed its position in Trane Technologies plc (NYSE:TT) by 0.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,638 shares of the company’s stock after selling 28 shares during the period. Clear Harbor Asset Management LLC’s holdings in Trane Technologies were worth $1,414,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in TT. Dixon Mitchell Investment Counsel Inc. bought a new stake in Trane Technologies during the first quarter valued at approximately $27,000. DT Investment Partners LLC bought a new position in Trane Technologies in the 3rd quarter worth $36,000. BOK Financial Private Wealth Inc. purchased a new position in Trane Technologies during the first quarter valued at $30,000. Fortitude Family Office LLC grew its holdings in Trane Technologies by 63.2% during the second quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock valued at $37,000 after purchasing an additional 43 shares during the period. Finally, Triad Wealth Partners LLC purchased a new stake in Trane Technologies in the second quarter worth about $39,000. 82.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Trane Technologies

In other news, CEO David S. Regnery sold 29,450 shares of Trane Technologies stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the completion of the sale, the chief executive officer now directly owns 132,946 shares in the company, valued at approximately $42,708,902.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO David S. Regnery sold 29,450 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total value of $9,460,812.50. Following the completion of the sale, the chief executive officer now owns 132,946 shares in the company, valued at approximately $42,708,902.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Raymond D. Pittard sold 1,805 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total value of $593,213.25. Following the transaction, the executive vice president now owns 83,517 shares in the company, valued at $27,447,862.05. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TT. Barclays boosted their price objective on Trane Technologies from $394.00 to $425.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada upped their price target on shares of Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 1st. Wells Fargo & Company upped their target price on shares of Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Morgan Stanley began coverage on Trane Technologies in a report on Friday, September 6th. They set an “overweight” rating and a $425.00 price target on the stock. Finally, The Goldman Sachs Group lifted their target price on Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $373.58.

Trane Technologies Stock Performance

NYSE TT opened at $392.57 on Friday. The company has a market cap of $88.59 billion, a P/E ratio of 38.83, a P/E/G ratio of 2.70 and a beta of 1.01. The business’s 50 day moving average price is $374.71 and its 200-day moving average price is $342.75. Trane Technologies plc has a fifty-two week low of $184.24 and a fifty-two week high of $406.96. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.84 and a current ratio of 1.17.

Trane Technologies (NYSE:TT) last announced its earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, beating the consensus estimate of $3.08 by $0.22. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The business had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.13 billion. During the same quarter in the prior year, the firm posted $2.68 earnings per share. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. Sell-side analysts predict that Trane Technologies plc will post 10.89 earnings per share for the current year.

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Friday, December 6th. Trane Technologies’s payout ratio is currently 33.23%.

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.