Allspring Global Investments Holdings LLC lessened its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 19.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,395 shares of the company's stock after selling 2,970 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Trane Technologies were worth $3,023,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. BKM Wealth Management LLC bought a new position in shares of Trane Technologies during the fourth quarter valued at approximately $25,000. Venturi Wealth Management LLC raised its holdings in shares of Trane Technologies by 139.7% during the third quarter. Venturi Wealth Management LLC now owns 151 shares of the company's stock valued at $31,000 after acquiring an additional 88 shares in the last quarter. Live Oak Investment Partners bought a new position in shares of Trane Technologies during the fourth quarter valued at approximately $30,000. Avior Wealth Management LLC raised its holdings in shares of Trane Technologies by 58.0% during the third quarter. Avior Wealth Management LLC now owns 177 shares of the company's stock valued at $36,000 after acquiring an additional 65 shares in the last quarter. Finally, Rosenberg Matthew Hamilton raised its holdings in shares of Trane Technologies by 27.2% during the fourth quarter. Rosenberg Matthew Hamilton now owns 192 shares of the company's stock valued at $47,000 after acquiring an additional 41 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on the company. The Goldman Sachs Group increased their price objective on Trane Technologies from $253.00 to $287.00 and gave the stock a "neutral" rating in a report on Monday, February 5th. Citigroup increased their price objective on Trane Technologies from $309.00 to $355.00 and gave the stock a "buy" rating in a report on Monday, April 8th. Royal Bank of Canada increased their price objective on Trane Technologies from $231.00 to $246.00 and gave the stock a "sector perform" rating in a report on Friday, February 2nd. Stephens increased their price objective on Trane Technologies from $235.00 to $280.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 6th. Finally, Barclays increased their price objective on Trane Technologies from $286.00 to $325.00 and gave the stock an "overweight" rating in a report on Tuesday, April 2nd. One 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. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $251.83.
View Our Latest Stock Report on TT
Trane Technologies Stock Down 0.4 %
Shares of NYSE TT traded down $1.29 during trading on Friday, reaching $288.27. The company had a trading volume of 800,778 shares, compared to its average volume of 750,544. 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 plc has a 12-month low of $162.04 and a 12-month high of $306.98. The stock has a market cap of $65.46 billion, a PE ratio of 32.80, a P/E/G ratio of 2.43 and a beta of 1.05. The business's 50-day moving average is $289.67 and its 200 day moving average is $251.65.
Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings data on Thursday, February 1st. The company reported $2.17 EPS for the quarter, beating 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 company had revenue of $4.42 billion for the quarter, compared to analysts' expectations of $4.43 billion. During the same period last year, the firm posted $1.82 earnings per share. Trane Technologies's revenue was up 8.6% compared to the same quarter last year. As a group, equities analysts forecast 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. Investors 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 1.17%. Trane Technologies's dividend payout ratio (DPR) is presently 38.23%.
Insider Activity at Trane Technologies
In other Trane Technologies news, CEO David S. Regnery sold 6,990 shares of the firm's 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 transaction, the chief executive officer now directly owns 113,874 shares of the company's stock, valued at $32,589,600.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Trane Technologies news, CEO David S. Regnery sold 6,990 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $286.19, for a total value of $2,000,468.10. Following the transaction, 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 can be accessed through this hyperlink. Also, SVP Keith A. Sultana sold 1,637 shares of the business's stock in a transaction on Thursday, February 1st. The shares were 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 approximately $11,345,214.76. The disclosure for this sale can be found here. Insiders have sold 29,874 shares of company stock valued at $8,462,825 over the last ninety days. Insiders own 0.39% of the company's stock.
Trane Technologies Profile
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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.
Further Reading
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