AXA S.A. cut its stake in Trane Technologies plc (NYSE:TT - Free Report) by 29.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 108,890 shares of the company's stock after selling 45,641 shares during the quarter. AXA S.A.'s holdings in Trane Technologies were worth $40,219,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in TT. Norges Bank acquired a new position in shares of Trane Technologies in the fourth quarter worth about $1,117,816,000. Raymond James Financial Inc. acquired a new position in Trane Technologies in the fourth quarter valued at about $611,322,000. Northern Trust Corp raised its position in Trane Technologies by 20.1% in the fourth 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 during the period. Bank Julius Baer & Co. Ltd Zurich boosted its stake in shares of 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. Finally, Nordea Investment Management AB grew its position in shares of Trane Technologies by 42.9% during the fourth quarter. Nordea Investment Management AB now owns 978,275 shares of the company's stock worth $361,874,000 after buying an additional 293,916 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the firm's stock in a transaction dated 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 transaction, the insider now owns 3,593 shares in the company, valued at approximately $1,365,340. This trade represents a 49.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Christopher J. Kuehn sold 770 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $358.39, for a total transaction of $275,960.30. Following the completion of the sale, the chief financial officer now owns 62,221 shares in the company, valued at approximately $22,299,384.19. This trade represents a 1.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,977 shares of company stock worth $2,577,061 in the last 90 days. 0.38% of the stock is owned by company insiders.
Trane Technologies Stock Up 1.0 %
NYSE:TT traded up $4.04 during trading hours on Tuesday, hitting $406.94. 1,892,033 shares of the stock traded hands, compared to its average volume of 1,322,304. The firm has a 50 day moving average price of $346.56 and a 200 day moving average price of $372.09. 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 plc has a fifty-two week low of $298.15 and a fifty-two week high of $422.00. The firm has a market cap of $90.76 billion, a price-to-earnings ratio of 36.17, a PEG ratio of 2.50 and a beta of 1.14.
Trane Technologies (NYSE:TT - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.20 by $0.25. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. The firm had revenue of $4.69 billion during the quarter, compared to analysts' expectations of $4.46 billion. During the same period in the previous year, the company earned $1.94 earnings per share. The company's revenue was up 11.2% compared to the same quarter last year. Equities research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current year.
Trane Technologies Dividend Announcement
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 paid a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a yield of 0.92%. Trane Technologies's dividend payout ratio is currently 31.28%.
Analyst Upgrades and Downgrades
Several research analysts have issued reports on the stock. Wells Fargo & Company raised their price objective on shares of Trane Technologies from $330.00 to $370.00 and gave the stock an "underweight" rating in a research report on Thursday, May 1st. Citigroup raised their price objective on Trane Technologies from $415.00 to $445.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Robert W. Baird boosted their target price on Trane Technologies from $360.00 to $396.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Melius Research reaffirmed a "hold" rating and set a $398.00 price target on shares of Trane Technologies in a report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. increased their target price on Trane Technologies from $323.00 to $334.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Trane Technologies presently has an average rating of "Moderate Buy" and a consensus price target of $421.07.
Read Our Latest Analysis on Trane Technologies
Trane Technologies 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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