Ethic Inc. lifted its stake in Trane Technologies plc (NYSE:TT - Free Report) by 150.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,883 shares of the company's stock after purchasing an additional 14,932 shares during the quarter. Ethic Inc.'s holdings in Trane Technologies were worth $9,190,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Trane Technologies by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 19,235,570 shares of the company's stock worth $7,104,658,000 after buying an additional 152,353 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Trane Technologies by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 4,775,263 shares of the company's stock valued at $1,760,549,000 after purchasing an additional 136,349 shares during the period. Ameriprise Financial Inc. grew its stake in shares of Trane Technologies by 4.1% during the 4th quarter. Ameriprise Financial Inc. now owns 3,343,390 shares of the company's stock valued at $1,234,908,000 after purchasing an additional 130,867 shares during the period. Norges Bank bought a new stake in shares of Trane Technologies during the 4th quarter valued at about $1,117,816,000. Finally, Northern Trust Corp grew its stake in shares of Trane Technologies by 20.1% during 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 during the period. 82.97% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
TT has been the subject of a number of recent research reports. Barclays cut their price target on Trane Technologies from $500.00 to $475.00 and set an "overweight" rating for the company in a research note on Monday, March 10th. 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. Citigroup boosted their price target on Trane Technologies from $415.00 to $445.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Robert W. Baird lifted their price objective on Trane Technologies from $360.00 to $396.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. Finally, Stephens raised Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price objective on the stock in a research report on Thursday, May 1st. One equities research 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's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $421.07.
Get Our Latest Analysis on Trane Technologies
Insider Buying and Selling
In other news, insider Donald E. Simmons sold 3,571 shares of the company's stock in a transaction that occurred 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 sale, the insider now directly owns 3,593 shares of the company's stock, valued at $1,365,340. This represents a 49.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.38% of the stock is owned by insiders.
Trane Technologies Price Performance
NYSE TT traded up $11.82 during trading hours on Monday, reaching $416.55. The company's stock had a trading volume of 1,922,631 shares, compared to its average volume of 1,341,277. The firm's 50-day moving average price is $351.40 and its 200-day moving average price is $372.31. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $422.00. The company has a market capitalization of $92.90 billion, a price-to-earnings ratio of 37.03, a PEG ratio of 2.50 and a beta of 1.14.
Trane Technologies (NYSE:TT - Get Free Report) last posted 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. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The company had revenue of $4.69 billion for the quarter, compared to analysts' expectations of $4.46 billion. During the same period in the previous year, the firm earned $1.94 EPS. The firm's revenue was up 11.2% compared to the same quarter last year. On average, equities research analysts predict that Trane Technologies plc will post 12.83 EPS for the current fiscal year.
Trane Technologies Dividend Announcement
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 issued a $0.94 dividend. The ex-dividend date is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a yield of 0.90%. Trane Technologies's dividend payout ratio is presently 31.28%.
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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