Impax Asset Management Group plc Reduces Position in Trane Technologies plc (NYSE:TT)

Impax Asset Management Group plc reduced its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 12.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 973,294 shares of the company's stock after selling 136,328 shares during the quarter. Impax Asset Management Group plc owned 0.43% of Trane Technologies worth $237,386,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of TT. Norges Bank bought a new stake in shares of Trane Technologies in the fourth quarter worth about $526,026,000. Moneta Group Investment Advisors LLC grew its stake in shares of Trane Technologies by 109,668.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,963,758 shares of the company's stock worth $330,088,000 after purchasing an additional 1,961,969 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Trane Technologies by 2,606.5% in the first quarter. First Trust Advisors LP now owns 1,081,171 shares of the company's stock worth $165,095,000 after purchasing an additional 1,041,224 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Trane Technologies by 24,670.7% in the fourth quarter. International Assets Investment Management LLC now owns 1,034,423 shares of the company's stock worth $252,296,000 after purchasing an additional 1,030,247 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Trane Technologies by 5.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,085,662 shares of the company's stock valued at $3,466,852,000 after acquiring an additional 880,583 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Trane Technologies Stock Down 0.9 %

NYSE TT traded down $2.62 during mid-day trading on Tuesday, reaching $301.22. The stock had a trading volume of 910,377 shares, compared to its average volume of 1,017,500. The stock has a market cap of $68.40 billion, a PE ratio of 34.27, a price-to-earnings-growth ratio of 2.57 and a beta of 1.05. Trane Technologies plc has a 1 year low of $162.04 and a 1 year high of $306.98. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.13 and a quick ratio of 0.78. The company has a fifty day moving average price of $285.81 and a 200 day moving average price of $246.35.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings data on Thursday, February 1st. The company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.04. The business had revenue of $4.42 billion for the quarter, compared to analysts' expectations of $4.43 billion. Trane Technologies had a return on equity of 32.01% and a net margin of 11.45%. The firm's quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.82 EPS. On average, research analysts expect that Trane Technologies plc will post 10.19 earnings per share for the current year.

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a $0.84 dividend. The ex-dividend date is Thursday, June 6th. This represents a $3.36 annualized dividend and a yield of 1.12%. Trane Technologies's dividend payout ratio (DPR) is presently 38.23%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on TT shares. Citigroup lifted their price objective on Trane Technologies from $309.00 to $355.00 and gave the company a "buy" rating in a research report on Monday. Wells Fargo & Company lifted their price objective on Trane Technologies from $200.00 to $246.00 and gave the company an "underweight" rating in a research report on Tuesday, December 19th. Stephens lifted their price objective on Trane Technologies from $235.00 to $280.00 and gave the company an "equal weight" rating in a research report on Tuesday, February 6th. Barclays lifted their price objective on Trane Technologies from $286.00 to $325.00 and gave the company an "overweight" rating in a research report on Tuesday, April 2nd. Finally, The Goldman Sachs Group lifted their price objective on Trane Technologies from $253.00 to $287.00 and gave the company a "neutral" rating in a research report on Monday, February 5th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $246.54.

Insider Activity at Trane Technologies

In other news, SVP Keith A. Sultana sold 1,983 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $272.26, for a total transaction of $539,891.58. Following the transaction, the senior vice president now directly owns 42,575 shares of the company's stock, valued at approximately $11,591,469.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, SVP Keith A. Sultana sold 1,637 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $267.74, for a total transaction of $438,290.38. Following the transaction, the senior vice president now directly owns 42,374 shares of the company's stock, valued at approximately $11,345,214.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Keith A. Sultana sold 1,983 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $272.26, for a total value of $539,891.58. Following the transaction, the senior vice president now directly owns 42,575 shares in the company, valued at $11,591,469.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,874 shares of company stock valued at $8,462,825. 0.39% of the stock is owned by corporate insiders.

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.