Mackenzie Financial Corp Reduces Position in Trane Technologies plc (NYSE:TT)

Mackenzie Financial Corp lowered its stake in Trane Technologies plc (NYSE:TT - Free Report) by 32.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 795,660 shares of the company's stock after selling 390,108 shares during the quarter. Mackenzie Financial Corp owned about 0.35% of Trane Technologies worth $293,877,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Minot DeBlois Advisors LLC bought a new stake in shares of Trane Technologies in the 4th quarter worth about $26,000. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Trane Technologies in the 4th quarter worth about $28,000. Sound Income Strategies LLC increased its holdings in shares of Trane Technologies by 1,314.3% in the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company's stock worth $37,000 after buying an additional 92 shares during the last quarter. Flagship Wealth Advisors LLC bought a new stake in shares of Trane Technologies in the 4th quarter worth about $37,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of Trane Technologies in the 4th quarter worth about $39,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Analyst Ratings Changes

TT has been the topic of several analyst reports. Citigroup upped their price target on shares of Trane Technologies from $415.00 to $445.00 and gave the company a "buy" rating in a report on Thursday, May 1st. UBS Group upped their price target on shares of Trane Technologies from $470.00 to $500.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. Stephens upgraded shares of Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price target on the stock in a report on Thursday, May 1st. HSBC upgraded shares of Trane Technologies from a "hold" rating to a "buy" rating and upped their price target for the company from $405.00 to $415.00 in a report on Friday, April 25th. Finally, 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. One analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $427.47.

Trane Technologies Stock Down 0.8%

Trane Technologies stock traded down $3.66 during mid-day trading on Wednesday, reaching $432.61. 1,027,824 shares of the company were exchanged, compared to its average volume of 1,353,454. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $439.29. The business has a fifty day moving average of $369.49 and a 200 day moving average of $375.38. The firm has a market cap of $96.48 billion, a P/E ratio of 38.45, a PEG ratio of 2.50 and a beta of 1.14. 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 (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, topping analysts' consensus estimates of $2.20 by $0.25. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The firm had revenue of $4.69 billion during the quarter, compared to analysts' expectations of $4.46 billion. During the same period in the prior year, the business posted $1.94 EPS. The firm's quarterly revenue was up 11.2% on a year-over-year basis. Research analysts anticipate 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 Monday, June 30th. Investors of record on Friday, June 6th will be paid a dividend of $0.94 per share. 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 dividend payout ratio (DPR) is presently 31.28%.

Insider Activity at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the 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 completion of the sale, the insider now directly owns 3,593 shares in the company, valued at approximately $1,365,340. This trade represents a 49.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.38% of the stock is currently owned by corporate insiders.

About Trane Technologies

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.