Janus Henderson Group PLC Sells 29,715 Shares of Trane Technologies plc (NYSE:TT)

Janus Henderson Group PLC reduced its stake in Trane Technologies plc (NYSE:TT - Free Report) by 2.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,061,695 shares of the company's stock after selling 29,715 shares during the quarter. Janus Henderson Group PLC owned about 0.47% of Trane Technologies worth $392,154,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Sound Income Strategies LLC grew its position in Trane Technologies by 1,314.3% during the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company's stock valued at $37,000 after acquiring an additional 92 shares during the last quarter. Flagship Wealth Advisors LLC purchased a new stake in shares of Trane Technologies in the 4th quarter valued at $37,000. Golden State Wealth Management LLC bought a new position in shares of Trane Technologies during the 4th quarter valued at $39,000. BankPlus Trust Department purchased a new position in Trane Technologies in the 4th quarter worth $45,000. Finally, Centricity Wealth Management LLC bought a new stake in Trane Technologies in the fourth quarter worth $55,000. 82.97% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Donald E. Simmons sold 3,571 shares of the firm's 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 completion of the transaction, the insider now directly owns 3,593 shares in the company, valued at $1,365,340. This trade represents a 49.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.38% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on TT shares. Wells Fargo & Company lifted their price objective on Trane Technologies from $330.00 to $370.00 and gave the stock an "underweight" rating in a report on Thursday, May 1st. Melius Research restated a "hold" rating and set a $398.00 price target on shares of Trane Technologies in a research report on Tuesday, January 28th. JPMorgan Chase & Co. boosted their price objective on Trane Technologies from $323.00 to $334.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. Royal Bank of Canada raised their target price on shares of Trane Technologies from $363.00 to $408.00 and gave the stock a "sector perform" rating in a report on Thursday, May 1st. Finally, Citigroup lifted their target price on shares of Trane Technologies from $415.00 to $445.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $421.07.

Trane Technologies Stock Up 0.5%

Shares of NYSE:TT traded up $2.22 during trading on Thursday, hitting $421.88. The stock had a trading volume of 1,225,301 shares, compared to its average volume of 1,344,963. 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 company has a market capitalization of $94.09 billion, a PE ratio of 37.50, a PEG ratio of 2.50 and a beta of 1.14. The firm's fifty day moving average is $354.49 and its 200 day moving average is $372.98. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $424.46.

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 analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $4.46 billion. During the same quarter last year, the firm earned $1.94 earnings per share. The business's revenue for the quarter was up 11.2% on a year-over-year basis. Analysts anticipate that Trane Technologies plc will post 12.83 EPS 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 paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date is Friday, June 6th. Trane Technologies's payout ratio is 31.28%.

About Trane Technologies

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.