The Manufacturers Life Insurance Company Decreases Holdings in Trane Technologies plc (NYSE:TT)

The Manufacturers Life Insurance Company decreased its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 13.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 423,338 shares of the company's stock after selling 64,254 shares during the period. The Manufacturers Life Insurance Company owned 0.19% of Trane Technologies worth $156,361,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TT. Global Wealth Strategies & Associates acquired a new position in Trane Technologies during the 4th quarter worth approximately $26,000. Sound Income Strategies LLC lifted its position in shares of Trane Technologies by 1,314.3% during the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company's stock valued at $37,000 after acquiring an additional 92 shares during the period. Flagship Wealth Advisors LLC bought a new stake in Trane Technologies in the 4th quarter valued at about $37,000. Golden State Wealth Management LLC acquired a new position in shares of Trane Technologies during the fourth quarter worth approximately $39,000. Finally, BankPlus Trust Department bought a new stake in Trane Technologies during the 4th quarter worth approximately $45,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Wells Fargo & Company increased their price target on shares of Trane Technologies from $330.00 to $370.00 and gave the company an "underweight" rating in a research report on Thursday. Melius Research reissued a "hold" rating and issued a $398.00 price target on shares of Trane Technologies in a report on Tuesday, January 28th. HSBC upgraded shares of Trane Technologies from a "hold" rating to a "buy" rating and lifted their target price for the company from $405.00 to $415.00 in a research report on Friday, April 25th. Hsbc Global Res raised Trane Technologies from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Finally, Melius downgraded shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 price objective for the company. in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $421.07.

Trane Technologies Price Performance

TT stock traded up $7.06 during midday trading on Friday, hitting $399.68. 1,323,355 shares of the stock were exchanged, compared to its average volume of 1,317,715. The stock has a market cap of $89.64 billion, a price-to-earnings ratio of 35.53, a PEG ratio of 2.50 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. The stock's 50-day moving average price is $343.25 and its 200-day moving average price is $372.19. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $422.00.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.25. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The company had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.46 billion. During the same period in the previous year, the business earned $1.94 EPS. Trane Technologies's revenue for the quarter was up 11.2% compared to the same quarter last year. Research analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

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

Insiders Place Their Bets

In related news, CFO Christopher J. Kuehn sold 770 shares of Trane Technologies stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $358.39, for a total transaction of $275,960.30. Following the transaction, the chief financial officer now owns 62,221 shares of the company's stock, valued at $22,299,384.19. This trade represents a 1.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Donald E. Simmons sold 3,571 shares of Trane Technologies stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the completion of the sale, the insider now owns 3,593 shares in the company, valued at $1,365,340. This trade represents a 49.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,805 shares of company stock worth $3,945,082 in the last quarter. 0.38% of the stock is currently owned by corporate insiders.

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.