Allspring Global Investments Holdings LLC cut its position in Trane Technologies plc (NYSE:TT - Free Report) by 44.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,514 shares of the company's stock after selling 30,411 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Trane Technologies were worth $14,024,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Creative Planning lifted its position in shares of Trane Technologies by 5.8% during the 3rd quarter. Creative Planning now owns 62,756 shares of the company's stock valued at $24,395,000 after acquiring an additional 3,446 shares during the period. Swedbank AB lifted its position in shares of Trane Technologies by 2.8% during the 3rd quarter. Swedbank AB now owns 743,794 shares of the company's stock valued at $289,135,000 after acquiring an additional 20,400 shares during the period. Global Retirement Partners LLC lifted its position in shares of Trane Technologies by 37.5% during the 3rd quarter. Global Retirement Partners LLC now owns 1,723 shares of the company's stock valued at $670,000 after acquiring an additional 470 shares during the period. Northwest Investment Counselors LLC bought a new stake in shares of Trane Technologies during the 3rd quarter valued at $126,000. Finally, Western Financial Corp CA bought a new stake in shares of Trane Technologies during the 3rd quarter valued at $914,000. 82.97% of the stock is currently owned by institutional investors.
Insider Activity
In related news, SVP Mairead Magner sold 198 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 13,401 shares of the company's stock, valued at $4,792,331.61. This trade represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Christopher J. Kuehn sold 876 shares of the firm's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total value of $313,099.92. Following the sale, the chief financial officer now directly owns 63,841 shares of the company's stock, valued at $22,818,050.22. This represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,563 shares of company stock valued at $4,388,966. Company insiders own 0.38% of the company's stock.
Analyst Upgrades and Downgrades
TT has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their target price on Trane Technologies from $387.00 to $396.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Barclays upped their price objective on Trane Technologies from $440.00 to $500.00 and gave the stock an "overweight" rating in a research report on Thursday, December 5th. Northcoast Research started coverage on Trane Technologies in a research report on Friday, November 22nd. They set a "buy" rating and a $500.00 price objective for the company. Wells Fargo & Company dropped their price objective on Trane Technologies from $380.00 to $360.00 and set an "underweight" rating for the company in a research report on Friday, January 31st. Finally, UBS Group dropped their price objective on Trane Technologies from $500.00 to $470.00 and set a "buy" rating for the company in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $415.25.
View Our Latest Report on TT
Trane Technologies Trading Down 3.3 %
Shares of TT stock traded down $12.08 on Friday, hitting $354.56. The company had a trading volume of 1,163,504 shares, compared to its average volume of 1,485,568. The firm has a market cap of $79.52 billion, a P/E ratio of 31.52, a P/E/G ratio of 2.53 and a beta of 1.05. The stock's 50-day moving average is $374.82 and its two-hundred day moving average is $379.44. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. Trane Technologies plc has a twelve month low of $279.00 and a twelve month high of $422.00.
Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. On average, equities research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.
Trane Technologies Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be paid a $0.94 dividend. This is a boost from Trane Technologies's previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.76 annualized dividend and a dividend yield of 1.06%. Trane Technologies's dividend payout ratio is presently 29.87%.
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
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