Trane Technologies plc (NYSE:TT) Shares Sold by Integrated Advisors Network LLC

Integrated Advisors Network LLC trimmed its position in Trane Technologies plc (NYSE:TT - Free Report) by 17.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,839 shares of the company's stock after selling 784 shares during the quarter. Integrated Advisors Network LLC's holdings in Trane Technologies were worth $1,418,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Trane Technologies by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 19,235,570 shares of the company's stock valued at $7,104,658,000 after acquiring an additional 152,353 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Trane Technologies by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 4,775,263 shares of the company's stock worth $1,760,549,000 after purchasing an additional 136,349 shares during the period. Ameriprise Financial Inc. boosted its position in Trane Technologies by 4.1% in the fourth quarter. Ameriprise Financial Inc. now owns 3,343,390 shares of the company's stock valued at $1,234,908,000 after buying an additional 130,867 shares during the last quarter. Norges Bank purchased a new stake in Trane Technologies in the fourth quarter valued at approximately $1,117,816,000. Finally, Northern Trust Corp increased its stake in shares of Trane Technologies by 20.1% in the fourth quarter. Northern Trust Corp now owns 2,567,527 shares of the company's stock worth $948,316,000 after acquiring an additional 429,953 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Donald E. Simmons sold 3,571 shares of the business'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 completion of the transaction, the insider now directly owns 3,593 shares in the company, valued at approximately $1,365,340. The trade was a 49.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.38% of the company's stock.

Trane Technologies Stock Performance

Shares of NYSE TT traded down $0.83 during midday trading on Thursday, hitting $432.11. The company's stock had a trading volume of 859,203 shares, compared to its average volume of 1,352,479. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $447.61. The firm's fifty day moving average price is $371.20 and its 200-day moving average price is $375.78. The firm has a market cap of $96.37 billion, a P/E ratio of 38.41, a P/E/G ratio of 2.50 and a beta of 1.14.

Trane Technologies (NYSE:TT - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, beating analysts' consensus estimates 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%. Trane Technologies's quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.94 earnings per share. On average, sell-side analysts forecast that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Friday, June 6th. Trane Technologies's payout ratio is 31.28%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TT. Stephens upgraded Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 target price on the stock in a research report on Thursday, May 1st. Robert W. Baird upped their target price 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 lifted their price target on Trane Technologies from $363.00 to $408.00 and gave the stock a "sector perform" rating in a report on Thursday, May 1st. HSBC raised shares of Trane Technologies from a "hold" rating to a "buy" rating and boosted their price target for the company from $405.00 to $415.00 in a research report on Friday, April 25th. Finally, JPMorgan Chase & Co. raised their target price on shares of Trane Technologies from $334.00 to $400.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. One 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. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $427.47.

Trane Technologies Company 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.