Brown Advisory Inc. decreased its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 4.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 389,831 shares of the company's stock after selling 16,721 shares during the period. Brown Advisory Inc. owned approximately 0.17% of Trane Technologies worth $143,984,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Versant Capital Management Inc grew its stake in shares of Trane Technologies by 41.9% during the 4th quarter. Versant Capital Management Inc now owns 606 shares of the company's stock worth $224,000 after acquiring an additional 179 shares in the last quarter. Nordea Investment Management AB grew its position in Trane Technologies by 42.9% in the fourth quarter. Nordea Investment Management AB now owns 978,275 shares of the company's stock valued at $361,874,000 after purchasing an additional 293,916 shares in the last quarter. Bank of New Hampshire increased its stake in Trane Technologies by 27.3% in the 4th quarter. Bank of New Hampshire now owns 5,709 shares of the company's stock valued at $2,109,000 after buying an additional 1,226 shares during the last quarter. Diversified Trust Co increased its stake in Trane Technologies by 58.7% in the 4th quarter. Diversified Trust Co now owns 5,253 shares of the company's stock valued at $1,941,000 after buying an additional 1,943 shares during the last quarter. Finally, Sterneck Capital Management LLC lifted its position in Trane Technologies by 62.0% during the 4th quarter. Sterneck Capital Management LLC now owns 1,045 shares of the company's stock worth $386,000 after buying an additional 400 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.
Trane Technologies Stock Performance
Shares of TT traded up $4.04 during mid-day trading on Tuesday, hitting $406.94. 1,892,033 shares of the company's stock were exchanged, compared to its average volume of 1,322,305. The stock's 50-day simple moving average is $346.56 and its 200-day simple moving average is $372.09. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $422.00. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The firm has a market cap of $90.76 billion, a price-to-earnings ratio of 36.17, a price-to-earnings-growth ratio of 2.50 and a beta of 1.14.
Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 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 return on equity of 35.37% and a net margin of 12.94%. Trane Technologies's revenue was up 11.2% on a year-over-year basis. During the same quarter last year, the business earned $1.94 earnings per share. On average, equities research analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.
Trane Technologies Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be given a dividend of $0.94 per share. The ex-dividend date is Friday, June 6th. This represents a $3.76 annualized dividend and a yield of 0.92%. Trane Technologies's dividend payout ratio is currently 31.28%.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on TT shares. Hsbc Global Res raised Trane Technologies from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Robert W. Baird boosted their price objective on shares of Trane Technologies from $360.00 to $396.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. Royal Bank of Canada raised their target price on shares of Trane Technologies from $363.00 to $408.00 and gave the company a "sector perform" rating in a research note on Thursday, May 1st. JPMorgan Chase & Co. boosted 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. Finally, Citigroup raised their price target on Trane Technologies from $415.00 to $445.00 and gave the company a "buy" rating in a report on Thursday, May 1st. 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 assigned a strong buy rating to the company. According to MarketBeat.com, Trane Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $421.07.
Get Our Latest Stock Analysis on TT
Insiders Place Their Bets
In related news, insider Donald E. Simmons sold 3,571 shares of Trane Technologies stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the sale, the insider now directly owns 3,593 shares of the company's stock, valued at approximately $1,365,340. The trade was a 49.85 % decrease in their position. The sale 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 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 completion of the transaction, the chief executive officer now directly owns 126,831 shares of the company's stock, valued at approximately $45,427,059.27. The trade was a 1.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,977 shares of company stock worth $2,577,061 over the last three months. Insiders own 0.38% of the company's stock.
About Trane Technologies
(
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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