Gabelli Funds LLC Sells 1,800 Shares of Trane Technologies plc (NYSE:TT)

Gabelli Funds LLC decreased its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 1.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 94,191 shares of the company's stock after selling 1,800 shares during the period. Gabelli Funds LLC's holdings in Trane Technologies were worth $34,789,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Jump Financial LLC lifted its position in Trane Technologies by 3.2% in the fourth quarter. Jump Financial LLC now owns 57,494 shares of the company's stock valued at $21,235,000 after purchasing an additional 1,773 shares during the last quarter. Bridgewater Associates LP increased its stake in shares of Trane Technologies by 42.2% in the fourth quarter. Bridgewater Associates LP now owns 1,351 shares of the company's stock worth $499,000 after buying an additional 401 shares during the period. Kane Investment Management Inc. bought a new stake in Trane Technologies during the 4th quarter valued at $2,052,000. Ontario Teachers Pension Plan Board boosted its position in Trane Technologies by 49.9% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 2,054 shares of the company's stock valued at $759,000 after buying an additional 684 shares during the period. Finally, Aware Super Pty Ltd as trustee of Aware Super bought a new stake in Trane Technologies in the 4th quarter worth $31,998,000. Institutional investors own 82.97% of the company's stock.

Trane Technologies Stock Up 0.8 %

Shares of NYSE TT traded up $2.69 on Friday, reaching $333.33. 2,243,922 shares of the company's stock traded hands, compared to its average volume of 1,302,422. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The business's 50 day simple moving average is $344.98 and its two-hundred day simple moving average is $374.75. Trane Technologies plc has a 12 month low of $288.95 and a 12 month high of $422.00. The company has a market cap of $74.76 billion, a price-to-earnings ratio of 29.63, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. As a group, equities research analysts forecast that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently announced 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 of this dividend is Friday, June 6th. This represents a $3.76 annualized dividend and a yield of 1.13%. Trane Technologies's dividend payout ratio (DPR) is presently 33.42%.

Analyst Ratings Changes

A number of research firms have recently weighed in on TT. Wells Fargo & Company dropped their target price on shares of Trane Technologies from $380.00 to $360.00 and set an "underweight" rating for the company in a report on Friday, January 31st. Melius cut Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 price objective for the company. in a report on Tuesday, January 28th. UBS Group reduced their target price on Trane Technologies from $500.00 to $470.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Barclays dropped their price target on Trane Technologies from $500.00 to $475.00 and set an "overweight" rating for the company in a research note on Monday, March 10th. Finally, Royal Bank of Canada boosted their price objective on shares of Trane Technologies from $390.00 to $395.00 and gave the company a "sector perform" rating in a research report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $405.31.

Insider Transactions at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 876 shares of the business's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total value of $313,099.92. Following the completion of the transaction, the chief financial officer now owns 63,841 shares in the company, valued at $22,818,050.22. The trade was a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David S. Regnery sold 2,754 shares of the company's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total value of $984,114.36. Following the transaction, the chief executive officer now directly owns 132,969 shares in the company, valued at approximately $47,515,142.46. The trade was a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,234 shares of company stock worth $2,588,102. Corporate insiders own 0.38% of the company's stock.

Trane Technologies Company 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.