SG Americas Securities LLC increased its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 11.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 84,887 shares of the company's stock after buying an additional 8,698 shares during the period. SG Americas Securities LLC's holdings in Trane Technologies were worth $28,600,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently added to or reduced their stakes in TT. Vanguard Group Inc. lifted its holdings in shares of Trane Technologies by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 19,235,570 shares of the company's stock valued at $7,104,658,000 after purchasing an additional 152,353 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Trane Technologies by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 4,775,263 shares of the company's stock valued at $1,760,549,000 after purchasing an additional 136,349 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Trane Technologies by 4.1% in the fourth quarter. Ameriprise Financial Inc. now owns 3,343,390 shares of the company's stock valued at $1,234,908,000 after buying an additional 130,867 shares during the last quarter. Norges Bank acquired a new position in shares of Trane Technologies in the fourth quarter valued at approximately $1,117,816,000. Finally, Northern Trust Corp raised its position in shares of 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 buying an additional 429,953 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.
Insider Buying and Selling
In related news, insider Donald E. Simmons sold 3,571 shares of the stock in a transaction dated 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 trade represents a 49.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.38% of the stock is currently owned by corporate insiders.
Trane Technologies Stock Down 0.8%
NYSE TT traded down $3.47 during trading on Friday, reaching $420.84. The company's stock had a trading volume of 1,230,048 shares, compared to its average volume of 1,346,793. The business has a 50-day moving average price of $392.71 and a 200-day moving average price of $377.01. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $436.61. The stock has a market capitalization of $93.85 billion, a PE ratio of 37.41, a PEG ratio of 2.50 and a beta of 1.16.
Trane Technologies (NYSE:TT - Get Free Report) last released its 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 12.94% and a return on equity of 35.37%. 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 company earned $1.94 EPS. The business's quarterly revenue was up 11.2% compared to the same quarter last year. On average, research analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.
Trane Technologies Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend is Friday, September 5th. Trane Technologies's dividend payout ratio (DPR) is currently 31.28%.
Wall Street Analyst Weigh In
TT has been the subject of a number of analyst reports. UBS Group boosted their price objective on shares of Trane Technologies from $470.00 to $500.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. Stephens raised shares of Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price objective 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. Wells Fargo & Company increased their price target on shares of Trane Technologies from $330.00 to $370.00 and gave the stock an "underweight" rating in a research note on Thursday, May 1st. Finally, Royal Bank of Canada increased their price target on shares of Trane Technologies from $363.00 to $408.00 and gave the stock a "sector perform" rating in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, seven have issued 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, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $427.47.
Read Our Latest Stock Report on Trane Technologies
About Trane Technologies
(
Free Report)
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.
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