Ninety One UK Ltd reduced its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 28.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,363,603 shares of the company's stock after selling 545,582 shares during the quarter. Ninety One UK Ltd owned 0.60% of Trane Technologies worth $332,583,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of the stock. Norges Bank acquired a new position in Trane Technologies in the 4th quarter worth about $526,026,000. Moneta Group Investment Advisors LLC raised its stake in shares of Trane Technologies by 109,668.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,963,758 shares of the company's stock worth $330,088,000 after buying an additional 1,961,969 shares during the period. First Trust Advisors LP lifted its position in shares of Trane Technologies by 2,606.5% during the 1st quarter. First Trust Advisors LP now owns 1,081,171 shares of the company's stock valued at $165,095,000 after buying an additional 1,041,224 shares in the last quarter. International Assets Investment Management LLC grew its stake in Trane Technologies by 24,670.7% in the 4th quarter. International Assets Investment Management LLC now owns 1,034,423 shares of the company's stock valued at $252,296,000 after acquiring an additional 1,030,247 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in Trane Technologies by 5.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 17,085,662 shares of the company's stock worth $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 and hedge funds.
Trane Technologies Trading Down 1.3 %
NYSE TT traded down $3.70 on Thursday, reaching $289.39. 649,875 shares of the company were exchanged, compared to its average volume of 997,334. The company has a current ratio of 1.13, a quick ratio of 0.78 and a debt-to-equity ratio of 0.57. The business's fifty day moving average price is $289.02 and its 200 day moving average price is $250.01. The stock has a market capitalization of $65.71 billion, a P/E ratio of 33.34, a price-to-earnings-growth ratio of 2.49 and a beta of 1.05. Trane Technologies plc has a fifty-two week low of $162.04 and a fifty-two week high of $306.98.
Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings results on Thursday, February 1st. The company reported $2.17 EPS for the quarter, topping the consensus estimate of $2.13 by $0.04. Trane Technologies had a return on equity of 32.01% and a net margin of 11.45%. The business had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.43 billion. During the same quarter in the previous year, the firm earned $1.82 EPS. The company's quarterly revenue was up 8.6% compared to the same quarter last year. Analysts forecast 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. Stockholders of record on Friday, June 7th will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Thursday, June 6th. Trane Technologies's dividend payout ratio (DPR) is presently 38.23%.
Insider Transactions at Trane Technologies
In related news, CFO Christopher J. Kuehn sold 3,762 shares of the company's stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $286.48, for a total transaction of $1,077,737.76. Following the sale, the chief financial officer now directly owns 61,691 shares of the company's stock, valued at approximately $17,673,237.68. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Trane Technologies news, CEO David S. Regnery sold 6,990 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 113,874 shares of the company's stock, valued at approximately $32,589,600.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Christopher J. Kuehn sold 3,762 shares of the business's stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $286.48, for a total value of $1,077,737.76. Following the transaction, the chief financial officer now directly owns 61,691 shares of the company's stock, valued at $17,673,237.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,874 shares of company stock worth $8,462,825. 0.39% of the stock is currently owned by company insiders.
Analyst Ratings Changes
A number of analysts have recently commented on TT shares. Royal Bank of Canada boosted their target price on shares of Trane Technologies from $231.00 to $246.00 and gave the stock a "sector perform" rating in a research note on Friday, February 2nd. Stephens increased their target price on Trane Technologies from $235.00 to $280.00 and gave the company an "equal weight" rating in a report on Tuesday, February 6th. The Goldman Sachs Group lifted 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. Barclays boosted their price target on Trane Technologies from $286.00 to $325.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 2nd. Finally, Citigroup raised their price objective on Trane Technologies from $309.00 to $355.00 and gave the company a "buy" rating in a report on Monday, April 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Trane Technologies has a consensus rating of "Hold" and an average target price of $251.83.
Check Out Our Latest Report on Trane Technologies
Trane Technologies Profile
(
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.
See Also
Before you consider Trane Technologies, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Trane Technologies wasn't on the list.
While Trane Technologies currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are major institutional investors including hedge funds and endowments buying in today's market? Click the link below and we'll send you MarketBeat's list of thirteen stocks that institutional investors are buying up as quickly as they can.
Get This Free Report
