Nisa Investment Advisors LLC reduced its stake in Trane Technologies plc (NYSE:TT - Free Report) by 37.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 80,481 shares of the company's stock after selling 48,281 shares during the period. Nisa Investment Advisors LLC's holdings in Trane Technologies were worth $27,116,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position 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 during the period. Geode Capital Management LLC boosted its position 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 during the period. Ameriprise Financial Inc. boosted its position 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 during the period. Norges Bank acquired a new stake in Trane Technologies during the 4th quarter worth approximately $1,117,816,000. Finally, Northern Trust Corp boosted its position 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 during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other 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 value of $1,356,980.00. Following the sale, the insider directly owned 3,593 shares of the company's stock, valued at approximately $1,365,340. This represents a 49.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.38% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of Trane Technologies from $334.00 to $400.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. HSBC upgraded shares of Trane Technologies from a "hold" rating to a "buy" rating and boosted their price target for the company from $405.00 to $415.00 in a research note on Friday, April 25th. Barclays boosted their price target on shares of Trane Technologies from $476.00 to $480.00 and gave the company an "overweight" rating in a research note on Wednesday. Robert W. Baird boosted their price target 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. Finally, The Goldman Sachs Group boosted their price target on shares of Trane Technologies from $416.00 to $460.00 and gave the company a "neutral" rating in a research note on Tuesday. 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 stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $434.00.
Check Out Our Latest Research Report on TT
Trane Technologies Stock Performance
Shares of NYSE:TT traded up $0.57 during midday trading on Thursday, reaching $434.18. The company had a trading volume of 1,051,158 shares, compared to its average volume of 1,334,810. The company's 50 day moving average price is $424.42 and its 200 day moving average price is $380.38. 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 stock has a market cap of $96.83 billion, a P/E ratio of 36.12, a P/E/G ratio of 2.78 and a beta of 1.15. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $438.95.
Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.20 by $0.25. The business 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 13.47% and a return on equity of 36.10%. The company's revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.94 earnings per share. As a group, sell-side analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.
Trane Technologies Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend is Friday, September 5th. Trane Technologies's payout ratio is 31.28%.
Trane Technologies Company Profile
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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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