Aviva PLC lessened its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 3.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 342,195 shares of the company's stock after selling 13,115 shares during the quarter. Aviva PLC owned approximately 0.15% of Trane Technologies worth $126,390,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently modified their holdings of the business. Dynamic Technology Lab Private Ltd increased its holdings in Trane Technologies by 60.9% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 4,109 shares of the company's stock worth $1,518,000 after acquiring an additional 1,556 shares in the last quarter. PAX Financial Group LLC increased its stake in shares of Trane Technologies by 17.4% in the fourth quarter. PAX Financial Group LLC now owns 858 shares of the company's stock worth $317,000 after purchasing an additional 127 shares in the last quarter. Bornite Capital Management LP raised its position in shares of Trane Technologies by 14.9% during the 4th quarter. Bornite Capital Management LP now owns 40,200 shares of the company's stock valued at $14,848,000 after purchasing an additional 5,200 shares during the period. Pitcairn Co. lifted its stake in shares of Trane Technologies by 4.4% during the 4th quarter. Pitcairn Co. now owns 8,973 shares of the company's stock valued at $3,314,000 after buying an additional 380 shares in the last quarter. Finally, World Investment Advisors boosted its holdings in Trane Technologies by 11.9% in the 4th quarter. World Investment Advisors now owns 38,691 shares of the company's stock worth $14,291,000 after buying an additional 4,110 shares during the period. Institutional investors own 82.97% of the company's stock.
Analyst Ratings Changes
TT has been the subject of several research analyst reports. Melius cut Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 target price for the company. in a research report on Tuesday, January 28th. Royal Bank of Canada raised their price objective on Trane Technologies from $390.00 to $395.00 and gave the company a "sector perform" rating in a research report on Friday, January 3rd. UBS Group decreased their target price on Trane Technologies from $500.00 to $470.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. Barclays reduced their price objective on Trane Technologies from $500.00 to $475.00 and set an "overweight" rating on the stock in a research note on Monday, March 10th. Finally, Wells Fargo & Company cut their target price on shares of Trane Technologies from $380.00 to $360.00 and set an "underweight" rating for the company in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $409.13.
Get Our Latest Analysis on TT
Trane Technologies Trading Down 2.2 %
Shares of NYSE:TT traded down $7.55 during trading hours on Thursday, hitting $335.25. 643,265 shares of the company's stock traded hands, compared to its average volume of 1,277,663. 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 business has a fifty day moving average price of $347.74 and a 200-day moving average price of $377.06. Trane Technologies plc has a 1 year low of $286.32 and a 1 year high of $422.00. The firm has a market capitalization of $75.19 billion, a P/E ratio of 29.84, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08.
Trane Technologies (NYSE:TT - Get Free Report) last released its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, topping analysts' consensus estimates of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. Equities analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.
Trane Technologies Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders 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 dividend yield of 1.12%. The ex-dividend date is Friday, June 6th. Trane Technologies's dividend payout ratio (DPR) is presently 33.42%.
Insider Activity
In related news, SVP Evan M. Turtz sold 318 shares of Trane Technologies stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $358.12, for a total value of $113,882.16. Following the completion of the sale, the senior vice president now directly owns 20,513 shares in the company, valued at $7,346,115.56. The trade was a 1.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Mairead Magner sold 198 shares of the company's stock in a transaction dated 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 directly owns 13,401 shares of the company's stock, valued at approximately $4,792,331.61. This trade represents a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,234 shares of company stock valued at $2,588,102. Corporate insiders own 0.38% of the company's stock.
Trane Technologies Company Profile
(
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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