Voleon Capital Management LP purchased a new position in shares of Trane Technologies plc (NYSE:TT - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 9,399 shares of the company's stock, valued at approximately $3,472,000.
Several other large investors have also made changes to their positions in the company. Norges Bank acquired a new position in Trane Technologies in the 4th quarter valued at approximately $1,117,816,000. Raymond James Financial Inc. bought a new position in Trane Technologies during the fourth quarter worth about $611,322,000. Northern Trust Corp grew its position in shares of Trane Technologies by 20.1% in the fourth quarter. Northern Trust Corp now owns 2,567,527 shares of the company's stock valued at $948,316,000 after purchasing an additional 429,953 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its position in Trane Technologies by 455.2% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 427,226 shares of the company's stock worth $167,977,000 after buying an additional 350,277 shares in the last quarter. Finally, Nordea Investment Management AB grew its position in Trane Technologies by 42.9% in the fourth quarter. Nordea Investment Management AB now owns 978,275 shares of the company's stock valued at $361,874,000 after acquiring an additional 293,916 shares during the last quarter. Institutional investors own 82.97% of the company's stock.
Insider Transactions at Trane Technologies
In other Trane Technologies news, CEO David S. Regnery sold 2,754 shares of the firm's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total value of $984,114.36. Following the completion of the sale, the chief executive officer now owns 132,969 shares of the company's stock, valued at $47,515,142.46. This trade represents a 2.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Donald E. Simmons sold 3,571 shares of the business's stock in a transaction that occurred 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 transaction, the insider now owns 3,593 shares of the company's stock, valued at $1,365,340. This trade represents a 49.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,805 shares of company stock worth $3,945,082 in the last three months. Insiders own 0.38% of the company's stock.
Trane Technologies Price Performance
Shares of TT stock traded up $7.06 during trading hours on Friday, hitting $399.68. The stock had a trading volume of 1,323,355 shares, compared to its average volume of 1,317,715. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. The stock has a market capitalization of $89.64 billion, a price-to-earnings ratio of 35.53, a PEG ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a one year low of $298.15 and a one year high of $422.00. The stock's 50-day moving average price is $344.26 and its two-hundred day moving average price is $372.20.
Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings data 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 business had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.46 billion. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The company's revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.94 EPS. Equities analysts forecast that Trane Technologies plc will post 12.83 EPS for the current year.
Trane Technologies Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be paid a $0.94 dividend. The ex-dividend date is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.94%. Trane Technologies's payout ratio is currently 33.42%.
Analysts Set New Price Targets
TT has been the subject of several recent analyst reports. UBS Group decreased their target price on Trane Technologies from $500.00 to $470.00 and set a "buy" rating for the company in a research note on Friday, January 31st. Stephens raised Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price objective on the stock in a report on Thursday. Melius Research reaffirmed a "hold" rating and issued a $398.00 price target on shares of Trane Technologies in a research note on Tuesday, January 28th. HSBC raised Trane Technologies from a "hold" rating to a "buy" rating and boosted their price target for the stock from $405.00 to $415.00 in a research report on Friday, April 25th. Finally, Royal Bank of Canada upped their target price on shares of Trane Technologies from $363.00 to $408.00 and gave the company a "sector perform" rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $421.07.
View Our Latest 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.
Further Reading
Before you consider Trane Technologies, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Trane Technologies wasn't on the list.
While Trane Technologies currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
