Vontobel Holding Ltd. lessened its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 2.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 497,493 shares of the company's stock after selling 11,186 shares during the quarter. Vontobel Holding Ltd. owned 0.22% of Trane Technologies worth $121,339,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. BKM Wealth Management LLC acquired a new position in shares of Trane Technologies during the fourth quarter worth about $25,000. Live Oak Investment Partners acquired a new position in shares of Trane Technologies in the fourth quarter worth about $30,000. Venturi Wealth Management LLC lifted its stake in shares of Trane Technologies by 139.7% in the third quarter. Venturi Wealth Management LLC now owns 151 shares of the company's stock worth $31,000 after acquiring an additional 88 shares in the last quarter. 1832 Asset Management L.P. acquired a new position in shares of Trane Technologies in the first quarter worth about $34,000. Finally, Avior Wealth Management LLC lifted its stake in shares of Trane Technologies by 58.0% in the third quarter. Avior Wealth Management LLC now owns 177 shares of the company's stock worth $36,000 after acquiring an additional 65 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.
Insider Transactions at Trane Technologies
In other news, CEO David S. Regnery sold 6,990 shares of the business's stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $286.19, for a total transaction of $2,000,468.10. Following the completion of the transaction, the chief executive officer now directly owns 113,874 shares in the company, valued at $32,589,600.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Trane Technologies news, CEO David S. Regnery sold 6,990 shares of the company's stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $286.19, for a total value of $2,000,468.10. Following the completion of the sale, the chief executive officer now directly owns 113,874 shares in the company, valued at $32,589,600.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Christopher J. Kuehn sold 2,767 shares of the company's stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $268.31, for a total value of $742,413.77. Following the completion of the sale, the chief financial officer now owns 54,788 shares of the company's stock, valued at $14,700,168.28. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,874 shares of company stock worth $8,462,825. Company insiders own 0.39% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts recently commented on the company. Royal Bank of Canada boosted their price target on Trane Technologies from $231.00 to $246.00 and gave the stock a "sector perform" rating in a research note on Friday, February 2nd. The Goldman Sachs Group boosted their price target on Trane Technologies from $253.00 to $287.00 and gave the stock a "neutral" rating in a research note on Monday, February 5th. Wells Fargo & Company boosted their price objective on Trane Technologies from $200.00 to $246.00 and gave the company an "underweight" rating in a report on Tuesday, December 19th. Barclays boosted their price objective on Trane Technologies from $286.00 to $325.00 and gave the company an "overweight" rating in a report on Tuesday, April 2nd. Finally, Stephens boosted their price objective on Trane Technologies from $235.00 to $280.00 and gave the company an "equal weight" rating in a report on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Trane Technologies has an average rating of "Hold" and an average price target of $251.83.
Check Out Our Latest Stock Report on TT
Trane Technologies Stock Performance
Shares of NYSE:TT traded down $0.28 during trading on Friday, hitting $296.96. 996,306 shares of the company traded hands, compared to its average volume of 786,448. The stock has a market capitalization of $67.43 billion, a price-to-earnings ratio of 33.78, a PEG ratio of 2.51 and a beta of 1.05. The business's fifty day moving average is $287.68 and its 200-day moving average is $248.43. Trane Technologies plc has a one year low of $162.04 and a one year high of $306.98. The company has a quick ratio of 0.78, a current ratio of 1.13 and a debt-to-equity ratio of 0.57.
Trane Technologies (NYSE:TT - Get Free Report) last posted its earnings results on Thursday, February 1st. The company reported $2.17 EPS for the quarter, beating the consensus estimate of $2.13 by $0.04. The company had revenue of $4.42 billion during the quarter, compared to analyst estimates of $4.43 billion. Trane Technologies had a return on equity of 32.01% and a net margin of 11.45%. The business's revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.82 earnings per share. As a group, equities analysts predict that Trane Technologies plc will post 10.2 earnings per share for the current fiscal year.
Trane Technologies Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a dividend of $0.84 per share. The ex-dividend date is Thursday, June 6th. This represents a $3.36 annualized dividend and a dividend yield of 1.13%. Trane Technologies's dividend payout ratio is presently 38.23%.
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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