Trane Technologies plc (NYSE:TT) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp trimmed its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 32.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 795,660 shares of the company's stock after selling 390,108 shares during the period. Mackenzie Financial Corp owned 0.35% of Trane Technologies worth $293,877,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Secured Retirement Advisors LLC increased its holdings in Trane Technologies by 0.6% during the fourth quarter. Secured Retirement Advisors LLC now owns 4,628 shares of the company's stock worth $1,709,000 after buying an additional 28 shares during the last quarter. Catalina Capital Group LLC increased its holdings in shares of Trane Technologies by 3.2% in the fourth quarter. Catalina Capital Group LLC now owns 924 shares of the company's stock valued at $341,000 after purchasing an additional 29 shares during the last quarter. Stratos Wealth Partners LTD. increased its holdings in shares of Trane Technologies by 0.5% in the fourth quarter. Stratos Wealth Partners LTD. now owns 5,538 shares of the company's stock valued at $2,046,000 after purchasing an additional 29 shares during the last quarter. Kanawha Capital Management LLC increased its holdings in shares of Trane Technologies by 0.6% in the fourth quarter. Kanawha Capital Management LLC now owns 4,712 shares of the company's stock valued at $1,740,000 after purchasing an additional 29 shares during the last quarter. Finally, Kestra Private Wealth Services LLC increased its holdings in shares of Trane Technologies by 0.3% in the fourth quarter. Kestra Private Wealth Services LLC now owns 9,173 shares of the company's stock valued at $3,388,000 after purchasing an additional 30 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Stock Down 0.2%

Shares of TT traded down $0.86 during mid-day trading on Thursday, reaching $432.08. The company had a trading volume of 368,492 shares, compared to its average volume of 1,350,615. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. The firm has a 50-day moving average price of $371.20 and a 200 day moving average price of $375.78. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $447.61. The company has a market capitalization of $96.36 billion, a price-to-earnings ratio of 38.44, a price-to-earnings-growth ratio of 2.50 and a beta of 1.14.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $4.46 billion. During the same period last year, the company earned $1.94 EPS. Trane Technologies's revenue for the quarter was up 11.2% on a year-over-year basis. On average, sell-side analysts forecast that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

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

Insiders Place Their Bets

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the company'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 transaction, the insider now directly owns 3,593 shares in the company, 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 this hyperlink. 0.38% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TT. Stephens raised shares of Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 target price for the company in a research report on Thursday, May 1st. Hsbc Global Res raised shares of Trane Technologies from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Barclays reduced their target price on shares of Trane Technologies from $500.00 to $475.00 and set an "overweight" rating for the company in a research report on Monday, March 10th. Royal Bank of Canada boosted their target price on shares of Trane Technologies from $363.00 to $408.00 and gave the company a "sector perform" rating in a research report on Thursday, May 1st. Finally, Citigroup boosted their target price on shares of Trane Technologies from $415.00 to $445.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Trane Technologies presently has a consensus rating of "Moderate Buy" and an average target price 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.