Mackenzie Financial Corp Sells 162,468 Shares of Trane Technologies plc (NYSE:TT)

Mackenzie Financial Corp reduced its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 13.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,073,001 shares of the company's stock after selling 162,468 shares during the quarter. Mackenzie Financial Corp owned about 0.47% of Trane Technologies worth $261,705,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TT. Rosenberg Matthew Hamilton increased its holdings in shares of Trane Technologies by 27.2% in the 4th quarter. Rosenberg Matthew Hamilton now owns 192 shares of the company's stock valued at $47,000 after acquiring an additional 41 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Trane Technologies by 2.3% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,847 shares of the company's stock worth $450,000 after buying an additional 42 shares during the period. Cedrus LLC grew its holdings in shares of Trane Technologies by 2.6% during the fourth quarter. Cedrus LLC now owns 1,669 shares of the company's stock worth $407,000 after buying an additional 43 shares during the last quarter. Certuity LLC increased its position in Trane Technologies by 3.1% in the 3rd quarter. Certuity LLC now owns 1,549 shares of the company's stock valued at $314,000 after acquiring an additional 46 shares during the period. Finally, Integrated Wealth Concepts LLC raised its stake in Trane Technologies by 2.4% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 1,972 shares of the company's stock valued at $400,000 after acquiring an additional 46 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Trane Technologies

In other news, EVP Paul A. Camuti sold 508 shares of the business's stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $273.34, for a total transaction of $138,856.72. Following the completion of the sale, the executive vice president now owns 89,447 shares in the company, valued at approximately $24,449,442.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Keith A. Sultana sold 1,637 shares of Trane Technologies stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $267.74, for a total transaction of $438,290.38. Following the sale, the senior vice president now directly owns 42,374 shares of the company's stock, valued at $11,345,214.76. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Paul A. Camuti sold 508 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $273.34, for a total value of $138,856.72. Following the transaction, the executive vice president now owns 89,447 shares of the company's stock, valued at $24,449,442.98. The disclosure for this sale can be found here. Insiders sold 29,874 shares of company stock worth $8,462,825 in the last 90 days. 0.39% of the stock is owned by company insiders.

Trane Technologies Price Performance

Shares of NYSE TT traded down $3.08 during trading on Monday, reaching $293.88. The company had a trading volume of 840,264 shares, compared to its average volume of 1,007,148. The company has a current ratio of 1.13, a quick ratio of 0.78 and a debt-to-equity ratio of 0.57. Trane Technologies plc has a twelve month low of $162.04 and a twelve month high of $306.98. The stock has a 50-day moving average price of $287.68 and a two-hundred day moving average price of $248.43. The stock has a market capitalization of $66.73 billion, a PE ratio of 33.78, a price-to-earnings-growth ratio of 2.51 and a beta of 1.05.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings results on Thursday, February 1st. The company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.13 by $0.04. The company had revenue of $4.42 billion for the quarter, compared to analysts' expectations of $4.43 billion. Trane Technologies had a net margin of 11.45% and a return on equity of 32.01%. The firm's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period last year, the company earned $1.82 EPS. As a group, sell-side analysts predict that Trane Technologies plc will post 10.2 earnings per share for the current year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend is Thursday, June 6th. Trane Technologies's payout ratio is 38.23%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TT. Royal Bank of Canada boosted their target price on Trane Technologies from $231.00 to $246.00 and gave the company a "sector perform" rating in a report on Friday, February 2nd. Stephens boosted their price objective on shares of Trane Technologies from $235.00 to $280.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 6th. Citigroup raised their target price on shares of Trane Technologies from $309.00 to $355.00 and gave the stock a "buy" rating in a research note on Monday, April 8th. Barclays boosted their price target on shares of Trane Technologies from $286.00 to $325.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 2nd. Finally, The Goldman Sachs Group raised their price objective on shares of Trane Technologies from $253.00 to $287.00 and gave the company a "neutral" rating in a research report on Monday, February 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $251.83.

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.