NZS Capital LLC Sells 53,971 Shares of Trane Technologies plc (NYSE:TT)

NZS Capital LLC lowered its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 35.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,155 shares of the company's stock after selling 53,971 shares during the period. Trane Technologies accounts for about 1.5% of NZS Capital LLC's holdings, making the stock its 24th biggest position. NZS Capital LLC's holdings in Trane Technologies were worth $35,884,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of TT. World Investment Advisors LLC lifted its holdings in shares of Trane Technologies by 5,253.1% in the 3rd quarter. World Investment Advisors LLC now owns 34,581 shares of the company's stock worth $13,443,000 after acquiring an additional 33,935 shares during the last quarter. Sfmg LLC lifted its holdings in shares of Trane Technologies by 1.5% in the 3rd quarter. Sfmg LLC now owns 2,441 shares of the company's stock worth $949,000 after acquiring an additional 36 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Trane Technologies in the 3rd quarter worth approximately $3,916,000. Tidal Investments LLC lifted its holdings in shares of Trane Technologies by 22.2% in the 3rd quarter. Tidal Investments LLC now owns 15,827 shares of the company's stock worth $6,152,000 after acquiring an additional 2,874 shares during the last quarter. Finally, Synovus Financial Corp lifted its holdings in shares of Trane Technologies by 16.8% in the 3rd quarter. Synovus Financial Corp now owns 8,828 shares of the company's stock worth $3,431,000 after acquiring an additional 1,271 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on TT shares. Melius Research reiterated a "hold" rating and set a $398.00 price target on shares of Trane Technologies in a report on Tuesday, January 28th. Melius lowered shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 target price for the company. in a report on Tuesday, January 28th. Stephens raised Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 target price on the stock in a research note on Thursday. Citigroup raised their target price on Trane Technologies from $415.00 to $445.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, UBS Group cut their target price on Trane Technologies from $500.00 to $470.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $417.25.

Trane Technologies Stock Up 2.5 %

Shares of TT stock traded up $9.72 during trading hours on Thursday, hitting $393.03. 2,106,758 shares of the company's stock traded hands, compared to its average volume of 1,317,280. The stock's fifty day simple moving average is $342.32 and its two-hundred day simple moving average is $372.27. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $422.00. The stock has a market cap of $88.15 billion, a price-to-earnings ratio of 34.94, a PEG ratio of 2.50 and a beta of 1.08. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.25. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. The firm had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.46 billion. During the same period last year, the business earned $1.94 earnings per share. The business's revenue was up 11.2% on a year-over-year basis. On average, analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be issued a $0.94 dividend. The ex-dividend date is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a yield of 0.96%. Trane Technologies's payout ratio is currently 33.42%.

Insider Buying and Selling

In other Trane Technologies news, SVP Mairead Magner sold 198 shares of the business's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total transaction of $70,806.78. Following the completion of the sale, the senior vice president now directly owns 13,401 shares in the company, valued at approximately $4,792,331.61. The trade was a 1.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David S. Regnery sold 2,754 shares of the business's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total transaction of $984,114.36. Following the sale, the chief executive officer now owns 132,969 shares of the company's stock, valued at approximately $47,515,142.46. This represents a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,234 shares of company stock worth $2,588,102 in the last three months. Insiders own 0.38% of the company's stock.

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.