Trane Technologies plc (NYSE:TT) Shares Sold by Magnolia Capital Management Ltd.

Magnolia Capital Management Ltd. reduced its stake in Trane Technologies plc (NYSE:TT - Free Report) by 33.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,330 shares of the company's stock after selling 670 shares during the quarter. Magnolia Capital Management Ltd.'s holdings in Trane Technologies were worth $448,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in TT. Vanguard Group Inc. lifted its holdings in Trane Technologies by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 19,235,570 shares of the company's stock worth $7,104,658,000 after buying an additional 152,353 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Trane Technologies by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 4,775,263 shares of the company's stock worth $1,760,549,000 after buying an additional 136,349 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in Trane Technologies by 4.1% during the 4th quarter. Ameriprise Financial Inc. now owns 3,343,390 shares of the company's stock worth $1,234,908,000 after buying an additional 130,867 shares in the last quarter. Norges Bank acquired a new stake in Trane Technologies during the 4th quarter worth approximately $1,117,816,000. Finally, Northern Trust Corp lifted its holdings in Trane Technologies by 20.1% during the 4th quarter. Northern Trust Corp now owns 2,567,527 shares of the company's stock worth $948,316,000 after buying an additional 429,953 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TT. UBS Group increased their target price on shares of Trane Technologies from $470.00 to $500.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Citigroup increased their price objective 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. Stephens raised shares of Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price objective on the stock in a research report on Thursday, May 1st. Royal Bank of Canada increased their price objective 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, JPMorgan Chase & Co. increased their price objective on shares of Trane Technologies from $334.00 to $400.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $427.47.

Trane Technologies Stock Down 0.5%

Shares of NYSE TT traded down $2.12 during mid-day trading on Friday, reaching $430.17. The company had a trading volume of 2,264,866 shares, compared to its average volume of 1,355,140. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The firm has a 50 day simple moving average of $373.99 and a two-hundred day simple moving average of $375.76. The stock has a market cap of $95.94 billion, a P/E ratio of 38.24, a PEG ratio of 2.50 and a beta of 1.14. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $436.61.

Trane Technologies (NYSE:TT - Get Free Report) last posted 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 firm had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.46 billion. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. The company's revenue was up 11.2% on a year-over-year basis. During the same period last year, the firm posted $1.94 EPS. Sell-side analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

The firm also recently declared 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. 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 dividend payout ratio is currently 31.28%.

Insider Buying and Selling

In related news, insider Donald E. Simmons sold 3,571 shares of the stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the completion of the sale, the insider now 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 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.