DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lessened its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 51.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 847,113 shares of the company's stock after selling 894,153 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main owned 0.38% of Trane Technologies worth $312,881,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the business. EP Wealth Advisors LLC grew its stake in shares of Trane Technologies by 12.6% in the 4th quarter. EP Wealth Advisors LLC now owns 2,312 shares of the company's stock valued at $854,000 after buying an additional 258 shares during the period. Colonial Trust Co SC boosted its holdings in Trane Technologies by 3.4% in the fourth quarter. Colonial Trust Co SC now owns 14,634 shares of the company's stock worth $5,405,000 after acquiring an additional 481 shares in the last quarter. Corton Capital Inc. acquired a new stake in Trane Technologies in the fourth quarter valued at approximately $208,000. Crestline Management LP bought a new stake in shares of Trane Technologies during the fourth quarter valued at approximately $776,000. Finally, Cetera Investment Advisers raised its position in shares of Trane Technologies by 6.9% during the fourth quarter. Cetera Investment Advisers now owns 58,990 shares of the company's stock worth $21,788,000 after purchasing an additional 3,782 shares during the period. 82.97% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of analysts have commented on the stock. Melius Research restated a "hold" rating and set a $398.00 price target on shares of Trane Technologies in a research note on Tuesday, January 28th. Melius downgraded shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 target price for the company. in a research report on Tuesday, January 28th. JPMorgan Chase & Co. raised their price target on shares of Trane Technologies from $323.00 to $334.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. Wells Fargo & Company lifted their price target on Trane Technologies from $330.00 to $370.00 and gave the company an "underweight" rating in a research note on Thursday, May 1st. Finally, Royal Bank of Canada increased their price objective on Trane Technologies from $363.00 to $408.00 and gave the stock a "sector perform" rating in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $421.07.
Get Our Latest Report on TT
Insider Buying and Selling
In other news, CEO David S. Regnery sold 2,318 shares of the firm'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 value of $830,238.06. Following the completion of the transaction, the chief executive officer now directly owns 126,831 shares in the company, valued at approximately $45,427,059.27. This trade represents a 1.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Evan M. Turtz sold 318 shares of the company's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $358.12, for a total transaction of $113,882.16. Following the sale, the senior vice president now directly owns 20,513 shares in the company, valued at $7,346,115.56. This trade represents a 1.53 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,977 shares of company stock valued at $2,577,061. Company insiders own 0.38% of the company's stock.
Trane Technologies Trading Down 0.0 %
Shares of TT stock opened at $406.59 on Thursday. 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 $90.68 billion, a P/E ratio of 36.14, a PEG ratio of 2.50 and a beta of 1.14. The company has a 50 day moving average of $347.60 and a 200-day moving average of $372.33. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $422.00.
Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.25. The company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.46 billion. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The firm's quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.94 EPS. Sell-side analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current year.
Trane Technologies Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date is Friday, June 6th. Trane Technologies's payout ratio is currently 31.28%.
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.
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