Siemens Fonds Invest GmbH Has $406,000 Position in Trane Technologies plc (NYSE:TT)

Siemens Fonds Invest GmbH lessened its stake in Trane Technologies plc (NYSE:TT - Free Report) by 75.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,100 shares of the company's stock after selling 3,292 shares during the quarter. Siemens Fonds Invest GmbH's holdings in Trane Technologies were worth $406,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TT. Norges Bank acquired a new position in shares of Trane Technologies in the fourth quarter worth $1,117,816,000. Raymond James Financial Inc. acquired a new stake in shares of Trane Technologies during the 4th quarter valued at about $611,322,000. Northern Trust Corp lifted its holdings in shares of Trane Technologies by 20.1% during the 4th 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. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Trane Technologies in the 4th quarter valued at approximately $147,251,000. Finally, BNP Paribas Financial Markets bought a new position in Trane Technologies during the fourth quarter valued at approximately $137,999,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Insiders Place Their Bets

In other news, insider Donald E. Simmons sold 3,571 shares of the business's stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the sale, the insider now directly owns 3,593 shares in the company, valued at approximately $1,365,340. The trade was a 49.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.38% of the company's stock.

Trane Technologies Stock Performance

TT traded down $1.56 during midday trading on Monday, reaching $428.72. The company's stock had a trading volume of 501,687 shares, compared to its average volume of 1,351,776. 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 company has a fifty day simple moving average of $373.99 and a 200 day simple moving average of $375.52. The stock has a market cap of $95.61 billion, a P/E ratio of 38.10, a PEG ratio of 2.50 and a beta of 1.14. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $436.61.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, topping 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 business had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.46 billion. During the same quarter last year, the company posted $1.94 earnings per share. Trane Technologies's quarterly revenue was up 11.2% on a year-over-year basis. Research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be issued a $0.94 dividend. The ex-dividend date is Friday, June 6th. This represents a $3.76 annualized dividend and a yield of 0.88%. Trane Technologies's dividend payout ratio (DPR) is 31.28%.

Analysts Set New Price Targets

Several brokerages have recently commented on TT. 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 research note on Thursday, May 1st. Wells Fargo & Company upped their price objective on shares of Trane Technologies from $330.00 to $370.00 and gave the stock an "underweight" rating in a report on Thursday, May 1st. Hsbc Global Res upgraded Trane Technologies from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Barclays reduced their price target on Trane Technologies from $500.00 to $475.00 and set an "overweight" rating for the company in a research report on Monday, March 10th. Finally, HSBC raised Trane Technologies from a "hold" rating to a "buy" rating and increased their price objective for the company from $405.00 to $415.00 in a report on Friday, April 25th. One 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 MarketBeat.com, Trane Technologies presently has an average rating of "Moderate Buy" and an average price target of $427.47.

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.