Mutual of America Capital Management LLC Sells 2,156 Shares of Trane Technologies plc (NYSE:TT)

Mutual of America Capital Management LLC decreased its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 6.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 32,251 shares of the company's stock after selling 2,156 shares during the quarter. Mutual of America Capital Management LLC's holdings in Trane Technologies were worth $10,866,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Norges Bank bought a new stake in Trane Technologies in the fourth quarter valued at about $1,117,816,000. GAMMA Investing LLC increased its stake in Trane Technologies by 35,458.2% in the first quarter. GAMMA Investing LLC now owns 2,015,792 shares of the company's stock valued at $679,161,000 after acquiring an additional 2,010,123 shares during the period. Northern Trust Corp increased its stake in Trane Technologies by 20.1% in the fourth quarter. Northern Trust Corp now owns 2,567,527 shares of the company's stock valued at $948,316,000 after acquiring an additional 429,953 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Trane Technologies in the fourth quarter valued at about $147,251,000. Finally, BNP Paribas Financial Markets bought a new stake in Trane Technologies in the fourth quarter valued at about $137,999,000. Institutional investors own 82.97% of the company's stock.

Insider Transactions at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the firm's 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 transaction, the insider directly owned 3,593 shares of the company's stock, valued at approximately $1,365,340. This trade represents a 49.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.38% of the company's stock.

Analysts Set New Price Targets

TT has been the topic of a number of analyst reports. Robert W. Baird upped their target price on shares of Trane Technologies from $360.00 to $396.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Barclays upped their target price on shares of Trane Technologies from $476.00 to $480.00 and gave the company an "overweight" rating in a research note on Wednesday, July 9th. The Goldman Sachs Group upped their target price on shares of Trane Technologies from $416.00 to $460.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. Citigroup upped their price objective on shares of Trane Technologies from $445.00 to $502.00 and gave the stock a "buy" rating in a research note on Monday. Finally, UBS Group upped their price objective on shares of Trane Technologies from $470.00 to $500.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Trane Technologies presently has a consensus rating of "Moderate Buy" and an average target price of $437.80.

Trane Technologies Price Performance

Shares of TT traded down $2.84 during mid-day trading on Tuesday, hitting $436.35. 820,459 shares of the company traded hands, compared to its average volume of 1,334,014. Trane Technologies plc has a one year low of $298.15 and a one year high of $440.86. The company has a current ratio of 1.09, a quick ratio of 0.74 and a debt-to-equity ratio of 0.52. The business has a 50-day moving average of $426.71 and a 200 day moving average of $381.65. The stock has a market capitalization of $97.31 billion, a price-to-earnings ratio of 36.30, a PEG ratio of 2.86 and a beta of 1.15.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.20 by $0.25. Trane Technologies had a net margin of 13.47% and a return on equity of 36.10%. The business had revenue of $4.69 billion for the quarter, compared to analysts' expectations of $4.46 billion. During the same period in the prior year, the firm earned $1.94 earnings per share. Trane Technologies's revenue was up 11.2% compared to the same quarter last year. As a group, equities analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be paid a $0.94 dividend. The ex-dividend date is Friday, September 5th. This represents a $3.76 dividend on an annualized basis and a yield of 0.86%. Trane Technologies's payout ratio is presently 31.28%.

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.