Vident Advisory LLC cut its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 9.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,502 shares of the company's stock after selling 756 shares during the period. Vident Advisory LLC's holdings in Trane Technologies were worth $2,771,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Trane Technologies by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 19,235,570 shares of the company's stock worth $7,104,658,000 after acquiring an additional 152,353 shares in the last quarter. Geode Capital Management LLC increased its position in Trane Technologies by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 4,775,263 shares of the company's stock valued at $1,760,549,000 after buying an additional 136,349 shares in the last quarter. Ameriprise Financial Inc. increased its position in Trane Technologies by 4.1% in the 4th 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 in the last quarter. Norges Bank bought a new stake in Trane Technologies in the 4th quarter valued at about $1,117,816,000. Finally, Northern Trust Corp increased its position in Trane Technologies by 20.1% in 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 in the last quarter. 82.97% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on TT. HSBC raised Trane Technologies from a "hold" rating to a "buy" rating and boosted their target price for the company from $405.00 to $415.00 in a research report on Friday, April 25th. Royal Bank of Canada boosted their target price on Trane Technologies from $363.00 to $408.00 and gave the company a "sector perform" rating in a research report on Thursday, May 1st. Barclays decreased their target price 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. JPMorgan Chase & Co. boosted their target price on Trane Technologies from $334.00 to $400.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Finally, Melius lowered Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 target price for the company. in a research report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $427.47.
Check Out Our Latest Stock Report on TT
Insider Activity at Trane Technologies
In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the stock in a transaction 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 owns 3,593 shares in the company, valued at $1,365,340. This represents a 49.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.38% of the stock is owned by company insiders.
Trane Technologies Stock Performance
Shares of TT stock traded up $9.58 during trading on Tuesday, hitting $432.87. The company's stock had a trading volume of 362,158 shares, compared to its average volume of 1,590,295. The company has a market cap of $96.54 billion, a PE ratio of 38.47, a P/E/G ratio of 2.50 and a beta of 1.14. 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 business has a fifty day moving average of $367.75 and a 200-day moving average of $374.96. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $433.60.
Trane Technologies (NYSE:TT - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.25. The company had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.46 billion. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. Trane Technologies's quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.94 earnings per share. As a group, research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current year.
Trane Technologies Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.76 annualized dividend and a yield of 0.87%. Trane Technologies's payout ratio is 31.28%.
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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