Centiva Capital LP increased its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 33.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,541 shares of the company's stock after purchasing an additional 1,635 shares during the period. Centiva Capital LP's holdings in Trane Technologies were worth $2,416,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Trane Technologies by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 19,235,570 shares of the company's stock worth $7,104,658,000 after buying an additional 152,353 shares during the period. Geode Capital Management LLC raised its position in Trane Technologies by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 4,775,263 shares of the company's stock valued at $1,760,549,000 after purchasing an additional 136,349 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Trane Technologies by 4.1% during the 4th quarter. Ameriprise Financial Inc. now owns 3,343,390 shares of the company's stock valued at $1,234,908,000 after buying an additional 130,867 shares during the last quarter. Norges Bank bought a new position in shares of Trane Technologies during the fourth quarter valued at about $1,117,816,000. Finally, Northern Trust Corp raised its holdings in shares of Trane Technologies by 20.1% during the fourth quarter. Northern Trust Corp now owns 2,567,527 shares of the company's stock valued at $948,316,000 after acquiring an additional 429,953 shares in the last quarter. Institutional investors own 82.97% of the company's stock.
Trane Technologies Stock Up 1.7%
Shares of NYSE TT traded up $7.00 during mid-day trading on Monday, reaching $411.73. 344,758 shares of the company's stock were exchanged, compared to its average volume of 1,335,139. The business has a fifty day simple moving average of $350.05 and a 200 day simple moving average of $372.15. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $91.82 billion, a price-to-earnings ratio of 36.58, a PEG ratio of 2.50 and a beta of 1.14. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $426.84.
Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, beating analysts' consensus estimates of $2.20 by $0.25. The firm had revenue of $4.69 billion during the quarter, compared to analysts' expectations of $4.46 billion. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. The company's revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.94 earnings per share. As a group, equities analysts expect that Trane Technologies plc will post 12.83 EPS for the current fiscal year.
Trane Technologies Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend is Friday, June 6th. Trane Technologies's payout ratio is 31.28%.
Insider Activity at Trane Technologies
In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of Trane Technologies stock in a transaction 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 transaction, the insider now directly owns 3,593 shares of the company's stock, valued at $1,365,340. The trade was a 49.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.38% of the stock is owned by insiders.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on TT shares. Hsbc Global Res upgraded shares of Trane Technologies from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Wells Fargo & Company increased their price target on Trane Technologies from $330.00 to $370.00 and gave the company an "underweight" rating in a research note on Thursday, May 1st. Royal Bank of Canada raised their price objective on shares of Trane Technologies from $363.00 to $408.00 and gave the stock a "sector perform" rating in a research note on Thursday, May 1st. JPMorgan Chase & Co. raised their target price on shares of Trane Technologies from $323.00 to $334.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. Finally, Melius Research reissued a "hold" rating and set a $398.00 price target on shares of Trane Technologies in a research report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $421.07.
View Our Latest Stock Analysis on TT
About Trane Technologies
(
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.
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