Allegheny Financial Group lessened its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 59.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,332 shares of the company's stock after selling 1,982 shares during the period. Allegheny Financial Group's holdings in Trane Technologies were worth $492,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of TT. Secured Retirement Advisors LLC increased its position in shares of 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 purchasing an additional 28 shares in the last quarter. First Citizens Financial Corp grew its stake in Trane Technologies by 4.6% during the 4th quarter. First Citizens Financial Corp now owns 656 shares of the company's stock worth $242,000 after buying an additional 29 shares during the last quarter. Catalina Capital Group LLC grew its stake in 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 buying an additional 29 shares during the last quarter. Stratos Wealth Partners LTD. lifted its stake in Trane Technologies by 0.5% in the fourth 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 during the last quarter. Finally, Kanawha Capital Management LLC boosted its holdings in shares of Trane Technologies by 0.6% in the fourth quarter. Kanawha Capital Management LLC now owns 4,712 shares of the company's stock valued at $1,740,000 after acquiring an additional 29 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.
Trane Technologies Price Performance
Trane Technologies stock traded up $3.27 during trading hours on Monday, hitting $402.86. The stock had a trading volume of 1,036,849 shares, compared to its average volume of 1,317,564. The stock has a market capitalization of $89.84 billion, a price-to-earnings ratio of 35.81, a PEG ratio of 2.50 and a beta of 1.14. 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. The stock's fifty day moving average is $344.26 and its two-hundred day moving average is $371.85.
Trane Technologies (NYSE:TT - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.20 by $0.25. The company 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 firm's quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.94 earnings per share. As a group, analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.
Trane Technologies Announces Dividend
The business also recently declared 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 0.93%. The ex-dividend date of this dividend is Friday, June 6th. Trane Technologies's payout ratio is 31.28%.
Insider Transactions at Trane Technologies
In other news, CEO David S. Regnery sold 2,754 shares of the company's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total transaction of $984,114.36. Following the completion of the sale, the chief executive officer now directly owns 132,969 shares in the company, valued at $47,515,142.46. This represents a 2.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 value of $1,356,980.00. Following the completion of the transaction, the insider now owns 3,593 shares in the company, valued at $1,365,340. The trade was a 49.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,805 shares of company stock valued at $3,945,082 over the last three months. 0.38% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
Several research firms recently commented on TT. Citigroup upped 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. Robert W. Baird upped their target price on shares of Trane Technologies from $360.00 to $396.00 and gave the company a "neutral" rating in a report on Thursday. UBS Group lowered their price target on Trane Technologies from $500.00 to $470.00 and set a "buy" rating on the stock in a report on Friday, January 31st. HSBC raised Trane Technologies from a "hold" rating to a "buy" rating and upped their price objective for the company from $405.00 to $415.00 in a research note on Friday, April 25th. Finally, Melius Research reiterated a "hold" rating and issued a $398.00 target price on shares of Trane Technologies in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $421.07.
Read Our Latest Analysis on Trane Technologies
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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