Bornite Capital Management LP raised its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 14.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,200 shares of the company's stock after acquiring an additional 5,200 shares during the period. Trane Technologies makes up 2.0% of Bornite Capital Management LP's holdings, making the stock its 26th largest position. Bornite Capital Management LP's holdings in Trane Technologies were worth $14,848,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the stock. Pitcairn Co. raised its stake in shares of Trane Technologies by 4.4% in the 4th quarter. Pitcairn Co. now owns 8,973 shares of the company's stock worth $3,314,000 after buying an additional 380 shares in the last quarter. World Investment Advisors lifted 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 valued at $14,291,000 after acquiring an additional 4,110 shares during the last quarter. OneAscent Financial Services LLC boosted its position in shares of Trane Technologies by 13.5% during the 4th quarter. OneAscent Financial Services LLC now owns 2,567 shares of the company's stock valued at $948,000 after purchasing an additional 305 shares in the last quarter. Huntington National Bank grew its stake in shares of Trane Technologies by 14.5% in the 4th quarter. Huntington National Bank now owns 6,105 shares of the company's stock worth $2,255,000 after purchasing an additional 771 shares during the last quarter. Finally, Kesler Norman & Wride LLC bought a new stake in shares of Trane Technologies in the 4th quarter worth approximately $483,000. Institutional investors and hedge funds own 82.97% of the company's stock.
Insiders Place Their Bets
In related news, SVP Evan M. Turtz sold 318 shares of Trane Technologies stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $358.12, for a total transaction of $113,882.16. Following the sale, the senior vice president now directly owns 20,513 shares of the company's stock, valued at approximately $7,346,115.56. The trade was a 1.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David S. Regnery sold 2,754 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total transaction 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. The trade was a 2.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,234 shares of company stock worth $2,588,102 over the last three months. Insiders own 0.38% of the company's stock.
Trane Technologies Stock Performance
Shares of NYSE TT traded down $0.07 during mid-day trading on Wednesday, reaching $315.14. 427,409 shares of the company were exchanged, compared to its average volume of 1,272,571. Trane Technologies plc has a twelve month low of $286.32 and a twelve month high of $422.00. The stock has a market capitalization of $70.68 billion, a P/E ratio of 27.96, a P/E/G ratio of 2.50 and a beta of 1.08. The company's 50-day simple moving average is $348.59 and its 200-day simple moving average is $377.60. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58.
Trane Technologies (NYSE:TT - Get Free Report) last announced 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%. As a group, research analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.
Trane Technologies Dividend Announcement
The company also recently disclosed 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. The ex-dividend date is Friday, June 6th. This represents a $3.76 annualized dividend and a yield of 1.19%. Trane Technologies's dividend payout ratio is currently 33.42%.
Analysts Set New Price Targets
Several analysts have issued reports on TT shares. JPMorgan Chase & Co. cut their target price on shares of Trane Technologies from $396.00 to $323.00 and set a "neutral" rating on the stock in a research note on Tuesday. UBS Group dropped their price target on shares of Trane Technologies from $500.00 to $470.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Royal Bank of Canada boosted their target price on Trane Technologies from $390.00 to $395.00 and gave the company a "sector perform" rating in a research note on Friday, January 3rd. Citigroup cut their price target on Trane Technologies from $478.00 to $476.00 and set a "buy" rating for the company in a research note on Monday, January 13th. Finally, Melius lowered shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 price target on the stock. in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $409.13.
Read Our Latest Stock Analysis on TT
Trane Technologies Profile
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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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