Aptus Capital Advisors LLC lifted its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 121.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,706 shares of the company's stock after purchasing an additional 2,029 shares during the period. Aptus Capital Advisors LLC's holdings in Trane Technologies were worth $1,369,000 as of its most recent filing with the SEC.
A number of other large investors also recently added to or reduced their stakes in the business. AlTi Global Inc. bought a new position in shares of Trane Technologies in the fourth quarter worth approximately $374,000. Meiji Yasuda Life Insurance Co grew its holdings in Trane Technologies by 78.0% in the 4th quarter. Meiji Yasuda Life Insurance Co now owns 1,216 shares of the company's stock worth $449,000 after acquiring an additional 533 shares during the last quarter. Wahed Invest LLC increased its position in shares of Trane Technologies by 1.5% in the fourth quarter. Wahed Invest LLC now owns 5,580 shares of the company's stock valued at $2,061,000 after acquiring an additional 82 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its stake in shares of Trane Technologies by 201.0% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 260,275 shares of the company's stock valued at $96,133,000 after acquiring an additional 173,811 shares during the last quarter. Finally, Rehmann Capital Advisory Group boosted its holdings in shares of Trane Technologies by 17.5% during the fourth quarter. Rehmann Capital Advisory Group now owns 1,090 shares of the company's stock worth $403,000 after purchasing an additional 162 shares during the period. Hedge funds and other institutional investors own 82.97% of the company's stock.
Trane Technologies Stock Up 0.8 %
Shares of NYSE:TT opened at $402.86 on Tuesday. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $422.00. The stock has a market capitalization of $89.84 billion, a price-to-earnings ratio of 35.81, a PEG ratio of 2.50 and a beta of 1.14. The stock has a fifty day simple moving average of $345.31 and a two-hundred day simple moving average of $371.85. 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 results on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.20 by $0.25. The company had revenue of $4.69 billion for the quarter, compared to analysts' expectations of $4.46 billion. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. Trane Technologies's revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.94 EPS. On average, research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.
Trane Technologies Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend is Friday, June 6th. Trane Technologies's dividend payout ratio (DPR) is currently 31.28%.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on TT shares. Robert W. Baird increased their price objective on Trane Technologies from $360.00 to $396.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Melius cut shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 price target on the stock. in a report on Tuesday, January 28th. JPMorgan Chase & Co. raised their target price on shares of Trane Technologies from $323.00 to $334.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. UBS Group reduced their price target on shares of Trane Technologies from $500.00 to $470.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. Finally, Stephens upgraded shares of Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price objective for the company in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Trane Technologies currently has an average rating of "Moderate Buy" and an average price target of $421.07.
Get Our Latest Analysis on Trane Technologies
Insider Buying and Selling
In other Trane Technologies news, SVP Evan M. Turtz sold 318 shares of the business's 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 completion of the sale, the senior vice president now directly owns 20,513 shares in the company, valued at $7,346,115.56. The trade was a 1.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David S. Regnery sold 2,318 shares of the business's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $358.17, for a total transaction of $830,238.06. Following the sale, the chief executive officer now owns 126,831 shares of the company's stock, valued at $45,427,059.27. This trade represents a 1.79 % 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 worth $2,577,061 in the last three months. Insiders own 0.38% of the company's stock.
Trane Technologies Company Profile
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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.
See Also
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