Challenger Wealth Management acquired a new stake in Trane Technologies plc (NYSE:TT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,205 shares of the company's stock, valued at approximately $1,184,000. Trane Technologies comprises 1.0% of Challenger Wealth Management's investment portfolio, making the stock its 24th largest position.
Several other institutional investors have also bought and sold shares of TT. Stonegate Investment Group LLC lifted its position in shares of Trane Technologies by 11.9% during the fourth quarter. Stonegate Investment Group LLC now owns 15,378 shares of the company's stock worth $5,680,000 after acquiring an additional 1,633 shares in the last quarter. U.S. Capital Wealth Advisors LLC lifted its position in shares of Trane Technologies by 1,490.3% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 19,417 shares of the company's stock worth $7,172,000 after acquiring an additional 18,196 shares in the last quarter. Longboard Asset Management LP purchased a new stake in shares of Trane Technologies during the fourth quarter worth $257,000. Consolidated Planning Corp raised its position in shares of Trane Technologies by 8.3% in the fourth quarter. Consolidated Planning Corp now owns 14,252 shares of the company's stock worth $5,264,000 after buying an additional 1,091 shares in the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Trane Technologies by 4.9% in the fourth quarter. Van ECK Associates Corp now owns 52,058 shares of the company's stock worth $19,228,000 after buying an additional 2,438 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.
Trane Technologies Trading Down 0.8%
Shares of NYSE:TT traded down $3.66 on Wednesday, reaching $432.61. 1,027,824 shares of the company traded hands, compared to its average volume of 1,354,453. The business's 50-day simple moving average is $369.49 and its 200 day simple moving average is $375.38. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $441.04. The stock has a market capitalization of $96.48 billion, a P/E ratio of 38.45, a price-to-earnings-growth ratio of 2.50 and a beta of 1.14. 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 (NYSE:TT - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, topping analysts' consensus estimates of $2.20 by $0.25. The company had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.46 billion. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. Trane Technologies's revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.94 earnings per share. As a group, equities analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.
Trane Technologies Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be issued a dividend of $0.94 per share. The ex-dividend date is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.87%. Trane Technologies's dividend payout ratio is currently 31.28%.
Insider Transactions at Trane Technologies
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 shares were sold at an average price of $380.00, for a total value of $1,356,980.00. Following the completion of the sale, the insider now directly owns 3,593 shares in the company, valued at $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 SEC, which is available at this link. 0.38% of the stock is currently owned by company insiders.
Analyst Ratings Changes
A number of brokerages recently issued reports on TT. Hsbc Global Res upgraded Trane Technologies from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Citigroup increased their price objective on Trane Technologies from $415.00 to $445.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. 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 report on Thursday, May 1st. Wells Fargo & Company increased their price objective on Trane Technologies from $330.00 to $370.00 and gave the stock an "underweight" rating in a research report on Thursday, May 1st. Finally, Barclays lowered their price objective on Trane Technologies from $500.00 to $475.00 and set an "overweight" rating on the stock in a research report on Monday, March 10th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $427.47.
Get Our Latest Report on TT
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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