Chevy Chase Trust Holdings LLC Sells 2,914 Shares of Trane Technologies plc (NYSE:TT)

Chevy Chase Trust Holdings LLC decreased its position in Trane Technologies plc (NYSE:TT - Free Report) by 2.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 118,924 shares of the company's stock after selling 2,914 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.05% of Trane Technologies worth $43,925,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in TT. International Assets Investment Management LLC raised its position in Trane Technologies by 35,914.4% during the 3rd quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company's stock valued at $639,514,000 after purchasing an additional 1,640,569 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Trane Technologies by 35.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company's stock worth $991,460,000 after acquiring an additional 671,691 shares during the period. FMR LLC raised its holdings in Trane Technologies by 4.0% in the 3rd quarter. FMR LLC now owns 10,337,672 shares of the company's stock worth $4,018,563,000 after purchasing an additional 397,537 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Trane Technologies by 42.9% during the 4th quarter. Nordea Investment Management AB now owns 978,275 shares of the company's stock valued at $361,874,000 after purchasing an additional 293,916 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in Trane Technologies by 76.9% in the third quarter. Assenagon Asset Management S.A. now owns 417,193 shares of the company's stock worth $162,175,000 after buying an additional 181,335 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Barclays upped their target price on Trane Technologies from $440.00 to $500.00 and gave the stock an "overweight" rating in a report on Thursday, December 5th. HSBC downgraded shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $405.00 target price on the stock. in a research report on Thursday, October 31st. Melius cut Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 price objective for the company. in a research note on Tuesday, January 28th. Citigroup cut their price objective on shares of Trane Technologies from $478.00 to $476.00 and set a "buy" rating on the stock in a research report on Monday, January 13th. Finally, Wells Fargo & Company decreased 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 issued a buy rating to the stock. According to MarketBeat.com, Trane Technologies presently has a consensus rating of "Hold" and an average target price of $415.25.

Insider Buying and Selling at Trane Technologies

In related news, CFO Christopher J. Kuehn sold 876 shares of the company's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.42, for a total value of $313,099.92. Following the completion of the transaction, the chief financial officer now owns 63,841 shares of the company's stock, valued at approximately $22,818,050.22. This represents a 1.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Mairead Magner sold 198 shares of the firm's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total value of $70,806.78. Following the sale, the senior vice president now directly owns 13,401 shares in the company, valued at approximately $4,792,331.61. This 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 11,563 shares of company stock valued at $4,388,966. Company insiders own 0.38% of the company's stock.

Trane Technologies Stock Performance

TT stock traded down $0.72 during trading on Tuesday, reaching $362.54. The stock had a trading volume of 1,309,956 shares, compared to its average volume of 1,496,589. The stock's 50 day moving average is $377.68 and its two-hundred day moving average is $379.00. The firm has a market cap of $81.58 billion, a PE ratio of 32.23, a PEG ratio of 2.44 and a beta of 1.05. Trane Technologies plc has a 52 week low of $270.50 and a 52 week high of $422.00. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. As a group, equities analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be issued a $0.94 dividend. This is a boost from Trane Technologies's previous quarterly dividend of $0.84. This represents a $3.76 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date is Friday, March 7th. Trane Technologies's dividend payout ratio (DPR) is currently 29.87%.

About Trane Technologies

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.