Voya Investment Management LLC Cuts Stake in Trane Technologies plc (NYSE:TT)

Voya Investment Management LLC decreased its position in Trane Technologies plc (NYSE:TT - Free Report) by 5.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 56,080 shares of the company's stock after selling 3,158 shares during the quarter. Voya Investment Management LLC's holdings in Trane Technologies were worth $20,713,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of TT. World Investment Advisors LLC lifted its holdings in Trane Technologies by 5,253.1% during the 3rd quarter. World Investment Advisors LLC now owns 34,581 shares of the company's stock worth $13,443,000 after buying an additional 33,935 shares during the last quarter. Sfmg LLC boosted its holdings in Trane Technologies by 1.5% in the third quarter. Sfmg LLC now owns 2,441 shares of the company's stock valued at $949,000 after purchasing an additional 36 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Trane Technologies in the third quarter valued at approximately $3,916,000. Tidal Investments LLC raised its holdings in Trane Technologies by 22.2% during the third quarter. Tidal Investments LLC now owns 15,827 shares of the company's stock worth $6,152,000 after purchasing an additional 2,874 shares in the last quarter. Finally, Synovus Financial Corp lifted its position in shares of Trane Technologies by 16.8% during the 3rd quarter. Synovus Financial Corp now owns 8,828 shares of the company's stock worth $3,431,000 after buying an additional 1,271 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Price Performance

Trane Technologies stock traded up $9.72 during mid-day trading on Thursday, reaching $393.03. The company had a trading volume of 2,086,750 shares, compared to its average volume of 1,317,280. The stock's 50-day simple moving average is $342.32 and its 200-day simple moving average is $372.27. The company has a market capitalization of $88.15 billion, a P/E ratio of 34.94, a P/E/G ratio of 2.50 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $422.00.

Trane Technologies (NYSE:TT - Get Free Report) last issued 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. The firm had revenue of $4.69 billion during the quarter, compared to analysts' expectations of $4.46 billion. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. Trane Technologies's revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.94 earnings per share. On average, equities analysts predict that Trane Technologies plc will post 12.83 EPS for the current 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 given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date is Friday, June 6th. Trane Technologies's payout ratio is currently 33.42%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Citigroup boosted their price target on shares of Trane Technologies from $415.00 to $445.00 and gave the company a "buy" rating in a research report on Thursday. Barclays decreased their price objective on Trane Technologies from $500.00 to $475.00 and set an "overweight" rating for the company in a report on Monday, March 10th. HSBC upgraded shares of Trane Technologies from a "hold" rating to a "buy" rating and upped their price target for the company from $405.00 to $415.00 in a research report on Friday, April 25th. Wells Fargo & Company raised their price objective on shares of Trane Technologies from $330.00 to $370.00 and gave the stock an "underweight" rating in a research report on Thursday. Finally, Hsbc Global Res raised shares of Trane Technologies from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $417.25.

Insider Activity

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

About Trane Technologies

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.