Ameriprise Financial Inc. Grows Position in Trane Technologies plc (NYSE:TT)

Ameriprise Financial Inc. boosted its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 4.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 3,343,390 shares of the company's stock after purchasing an additional 130,867 shares during the period. Ameriprise Financial Inc. owned approximately 1.49% of Trane Technologies worth $1,234,908,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Secured Retirement Advisors LLC raised its position in Trane Technologies by 0.6% during the fourth quarter. Secured Retirement Advisors LLC now owns 4,628 shares of the company's stock worth $1,709,000 after acquiring an additional 28 shares during the last quarter. Catalina Capital Group LLC raised its position in shares of Trane Technologies by 3.2% during the 4th quarter. Catalina Capital Group LLC now owns 924 shares of the company's stock worth $341,000 after purchasing an additional 29 shares during the last quarter. Stratos Wealth Partners LTD. lifted its stake in Trane Technologies by 0.5% in the 4th quarter. Stratos Wealth Partners LTD. now owns 5,538 shares of the company's stock valued at $2,046,000 after buying an additional 29 shares in the last quarter. Kanawha Capital Management LLC grew its holdings in Trane Technologies by 0.6% during the 4th quarter. Kanawha Capital Management LLC now owns 4,712 shares of the company's stock valued at $1,740,000 after buying an additional 29 shares during the last quarter. Finally, Kestra Private Wealth Services LLC increased its position in Trane Technologies by 0.3% during the fourth quarter. Kestra Private Wealth Services LLC now owns 9,173 shares of the company's stock worth $3,388,000 after buying an additional 30 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Wall Street Analyst Weigh In

TT has been the topic of a number of research analyst reports. Melius lowered Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 price target on the stock. in a research note on Tuesday, January 28th. Robert W. Baird lifted their price target on shares of Trane Technologies from $360.00 to $396.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Hsbc Global Res raised Trane Technologies from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Wells Fargo & Company upped their price target on Trane Technologies from $330.00 to $370.00 and gave the stock an "underweight" rating in a research note on Thursday, May 1st. Finally, Citigroup lifted their price objective on Trane Technologies from $415.00 to $445.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $421.07.

Insider Activity

In other news, SVP Evan M. Turtz sold 318 shares of the company's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $358.12, for a total transaction of $113,882.16. Following the transaction, the senior vice president now directly owns 20,513 shares of the company's stock, valued at $7,346,115.56. This represents a 1.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David S. Regnery sold 2,318 shares of Trane Technologies stock in a transaction on Monday, February 10th. The shares were sold at an average price of $358.17, for a total transaction of $830,238.06. Following the completion of the sale, the chief executive officer now directly owns 126,831 shares of the company's stock, valued at approximately $45,427,059.27. The trade was a 1.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,977 shares of company stock valued at $2,577,061 in the last ninety days. 0.38% of the stock is owned by company insiders.

Trane Technologies Stock Performance

Shares of Trane Technologies stock traded down $0.09 during trading on Wednesday, reaching $406.59. The company's stock had a trading volume of 2,045,146 shares, compared to its average volume of 1,327,300. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $422.00. The firm has a market cap of $90.68 billion, a PE ratio of 36.14, a P/E/G ratio of 2.50 and a beta of 1.14. The business's 50-day moving average price is $346.56 and its 200-day moving average price is $372.09. 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 posted its earnings results on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $4.46 billion. During the same quarter in the prior year, the business earned $1.94 earnings per share. The business's revenue for the quarter was up 11.2% compared to the same quarter last year. Equities analysts forecast 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. Stockholders 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 dividend yield of 0.92%. The ex-dividend date of this dividend is Friday, June 6th. Trane Technologies's dividend payout ratio (DPR) is presently 31.28%.

Trane Technologies 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.