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

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

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC purchased a new stake in Trane Technologies in the 4th quarter worth about $468,000. Stonegate Investment Group LLC raised its position in Trane Technologies by 11.9% in the 4th quarter. Stonegate Investment Group LLC now owns 15,378 shares of the company's stock worth $5,680,000 after purchasing an additional 1,633 shares during the period. U.S. Capital Wealth Advisors LLC raised its position in Trane Technologies by 1,490.3% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 19,417 shares of the company's stock worth $7,172,000 after purchasing an additional 18,196 shares during the period. Longboard Asset Management LP purchased a new stake in Trane Technologies in the 4th quarter worth about $257,000. Finally, Consolidated Planning Corp increased its position in shares of Trane Technologies by 8.3% during the fourth quarter. Consolidated Planning Corp now owns 14,252 shares of the company's stock worth $5,264,000 after acquiring an additional 1,091 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on TT shares. Citigroup raised their target price on shares of Trane Technologies from $415.00 to $445.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Barclays reduced their target price on shares of Trane Technologies from $500.00 to $475.00 and set an "overweight" rating on the stock in a research report on Monday, March 10th. Royal Bank of Canada raised their target price on shares of Trane Technologies from $363.00 to $408.00 and gave the stock a "sector perform" rating in a research report on Thursday, May 1st. HSBC raised shares of Trane Technologies from a "hold" rating to a "buy" rating and raised their target price for the stock 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 issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Trane Technologies presently has a consensus rating of "Moderate Buy" and an average target price of $427.47.

Trane Technologies Stock Up 3.1%

Shares of NYSE TT traded up $12.99 during midday trading on Tuesday, reaching $436.28. 1,347,874 shares of the company's stock traded hands, compared to its average volume of 1,354,756. The company has a market cap of $97.30 billion, a price-to-earnings ratio of 38.78, a P/E/G ratio of 2.50 and a beta of 1.14. Trane Technologies plc has a one year low of $298.15 and a one year high of $457.11. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The stock's 50 day simple moving average is $367.75 and its 200-day simple moving average is $374.96.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.20 by $0.25. The firm had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.46 billion. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The business's revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.94 EPS. On average, analysts predict that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 0.86%. Trane Technologies's dividend payout ratio (DPR) is currently 31.28%.

Insider Buying and Selling

In related news, insider Donald E. Simmons sold 3,571 shares of Trane Technologies stock in a transaction that occurred on 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.38% of the stock is owned by company insiders.

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.