Trane Technologies plc (NYSE:TT) Shares Sold by USS Investment Management Ltd

USS Investment Management Ltd reduced its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 46.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,406 shares of the company's stock after selling 14,007 shares during the period. USS Investment Management Ltd's holdings in Trane Technologies were worth $6,063,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Arkadios Wealth Advisors acquired a new stake in shares of Trane Technologies during the 4th quarter worth about $331,000. Ameritas Advisory Services LLC purchased a new position in shares of Trane Technologies during the fourth quarter valued at approximately $468,000. Ballentine Partners LLC boosted its position in Trane Technologies by 11.5% during the fourth quarter. Ballentine Partners LLC now owns 2,952 shares of the company's stock worth $1,090,000 after acquiring an additional 304 shares during the last quarter. Atomi Financial Group Inc. grew its stake in Trane Technologies by 4.5% in the 4th quarter. Atomi Financial Group Inc. now owns 1,781 shares of the company's stock worth $658,000 after acquiring an additional 76 shares during the period. Finally, Simon Quick Advisors LLC raised its holdings in Trane Technologies by 9.1% in the 4th quarter. Simon Quick Advisors LLC now owns 981 shares of the company's stock valued at $362,000 after acquiring an additional 82 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Insider Transactions at Trane Technologies

In other news, insider Donald E. Simmons sold 3,571 shares of Trane Technologies stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total value of $1,356,980.00. Following the completion of the transaction, the insider now owns 3,593 shares in the company, valued at approximately $1,365,340. This trade represents a 49.85% decrease in their position. 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.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TT. UBS Group raised their price objective on Trane Technologies from $470.00 to $500.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Citigroup raised their price target on Trane Technologies from $415.00 to $445.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Melius downgraded shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 price objective for the company. in a research note on Tuesday, January 28th. Royal Bank of Canada boosted their target price on shares of Trane Technologies from $363.00 to $408.00 and gave the company a "sector perform" rating in a report on Thursday, May 1st. Finally, Stephens raised 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. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $427.47.

Trane Technologies Stock Up 2.9%

NYSE:TT traded up $12.37 during mid-day trading on Tuesday, hitting $435.66. The company had a trading volume of 774,541 shares, compared to its average volume of 1,352,635. 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 $435.77. The firm has a market capitalization of $97.16 billion, a price-to-earnings ratio of 38.73, a PEG ratio of 2.50 and a beta of 1.14. The business has a fifty day simple moving average of $367.75 and a 200-day simple moving average of $374.96.

Trane Technologies (NYSE:TT - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.25. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.46 billion. During the same period last year, the firm earned $1.94 earnings per share. The company's revenue was up 11.2% on a year-over-year basis. Equities analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Friday, June 6th. Trane Technologies's dividend payout ratio is currently 31.28%.

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.