Cary Street Partners Financial LLC acquired a new position in Trane Technologies plc (NYSE:TT - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 15,982 shares of the company's stock, valued at approximately $5,903,000.
Other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in Trane Technologies in the fourth quarter valued at $1,117,816,000. Raymond James Financial Inc. purchased a new position in shares of Trane Technologies in the 4th quarter valued at about $611,322,000. Northern Trust Corp increased its stake in shares of Trane Technologies by 20.1% in the 4th quarter. Northern Trust Corp now owns 2,567,527 shares of the company's stock valued at $948,316,000 after purchasing an additional 429,953 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in Trane Technologies during the fourth quarter worth approximately $137,999,000. Finally, Bank Julius Baer & Co. Ltd Zurich grew its holdings in Trane Technologies by 455.2% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 427,226 shares of the company's stock valued at $167,977,000 after purchasing an additional 350,277 shares during the period. Institutional investors and hedge funds own 82.97% of the company's stock.
Insider Transactions at Trane Technologies
In other Trane Technologies news, SVP Evan M. Turtz sold 318 shares of Trane Technologies stock in a transaction dated 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 completion of the transaction, the insider now directly owns 3,593 shares in the company, valued at $1,365,340. This trade represents a 49.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,977 shares of company stock valued at $2,577,061 in the last three months. 0.38% of the stock is currently owned by corporate insiders.
Trane Technologies Stock Performance
TT traded down $1.33 during trading on Friday, reaching $404.32. 1,914,403 shares of the company were exchanged, compared to its average volume of 1,338,942. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The stock has a market cap of $90.17 billion, a P/E ratio of 35.94, a PEG ratio of 2.50 and a beta of 1.14. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $422.00. The firm has a 50 day moving average of $350.05 and a 200 day moving average of $372.29.
Trane Technologies (NYSE:TT - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.20 by $0.25. The firm had revenue of $4.69 billion for the quarter, compared to analysts' expectations of $4.46 billion. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The firm's revenue was up 11.2% compared to the same quarter last year. During the same period last year, the firm earned $1.94 EPS. On average, sell-side analysts forecast that Trane Technologies plc will post 12.83 EPS for the current fiscal year.
Trane Technologies Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be given a $0.94 dividend. The ex-dividend date is Friday, June 6th. This represents a $3.76 annualized dividend and a yield of 0.93%. Trane Technologies's dividend payout ratio (DPR) is 31.28%.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on TT. Robert W. Baird raised their target price on Trane Technologies from $360.00 to $396.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. lifted their target price on shares of Trane Technologies from $323.00 to $334.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. Hsbc Global Res upgraded shares of Trane Technologies from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Wells Fargo & Company upped their price objective on shares of Trane Technologies from $330.00 to $370.00 and gave the company an "underweight" rating in a research note on Thursday, May 1st. Finally, HSBC upgraded Trane Technologies from a "hold" rating to a "buy" rating and boosted their target price for the stock from $405.00 to $415.00 in a report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Trane Technologies currently has an average rating of "Moderate Buy" and an average price target of $421.07.
Get Our Latest Stock Report on Trane Technologies
Trane Technologies Company Profile
(
Free Report)
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.
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