Burney Co. Reduces Stake in Trane Technologies plc (NYSE:TT)

Burney Co. lessened its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 45.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,975 shares of the company's stock after selling 18,466 shares during the period. Burney Co.'s holdings in Trane Technologies were worth $7,404,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC grew its holdings 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 last quarter. Ameriprise Financial Inc. lifted its position in 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 acquiring an additional 130,867 shares during the period. Norges Bank purchased a new position in Trane Technologies during the 4th quarter valued at about $1,117,816,000. Northern Trust Corp increased its stake in 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 in the last quarter. Finally, Nuveen Asset Management LLC increased its stake in Trane Technologies by 1.6% during the 4th quarter. Nuveen Asset Management LLC now owns 2,332,626 shares of the company's stock valued at $861,555,000 after purchasing an additional 37,389 shares in the last quarter. Institutional investors own 82.97% of the company's stock.

Insider Activity

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the business's stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total value of $1,356,980.00. Following the transaction, the insider owned 3,593 shares in the company, valued at $1,365,340. The trade was a 49.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.38% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have issued reports on TT. Robert W. Baird increased their target price on shares of Trane Technologies from $396.00 to $450.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. JPMorgan Chase & Co. raised their price target on shares of Trane Technologies from $334.00 to $400.00 and gave the company a "neutral" rating in a report on Friday, May 16th. The Goldman Sachs Group increased their price objective on shares of Trane Technologies from $416.00 to $460.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. Barclays increased their price objective on shares of Trane Technologies from $476.00 to $480.00 and gave the company an "overweight" rating in a research report on Wednesday, July 9th. Finally, Citigroup raised their price target on shares of Trane Technologies from $445.00 to $502.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $441.40.

Trane Technologies Stock Performance

Shares of NYSE:TT opened at $448.17 on Wednesday. The company has a market cap of $99.95 billion, a P/E ratio of 37.29, a PEG ratio of 2.88 and a beta of 1.15. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.74 and a current ratio of 1.09. Trane Technologies plc has a one year low of $298.15 and a one year high of $451.87. The business's 50-day simple moving average is $429.64 and its 200 day simple moving average is $383.66.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, beating analysts' consensus estimates of $2.20 by $0.25. Trane Technologies had a return on equity of 36.10% and a net margin of 13.47%. The firm had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.46 billion. During the same quarter last year, the firm earned $1.94 EPS. Trane Technologies's quarterly revenue was up 11.2% on a year-over-year basis. On average, sell-side analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Friday, September 5th. Trane Technologies's dividend payout ratio is presently 31.28%.

Trane Technologies Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.