ExodusPoint Capital Management LP Lowers Stock Holdings in Trane Technologies plc (NYSE:TT)

ExodusPoint Capital Management LP trimmed its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 71.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,209 shares of the company's stock after selling 10,626 shares during the period. ExodusPoint Capital Management LP's holdings in Trane Technologies were worth $1,555,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Global Wealth Strategies & Associates bought a new stake in Trane Technologies during the fourth quarter valued at approximately $26,000. Sound Income Strategies LLC boosted its stake in shares of Trane Technologies by 1,314.3% during the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company's stock worth $37,000 after acquiring an additional 92 shares during the last quarter. Flagship Wealth Advisors LLC bought a new stake in shares of Trane Technologies during the 4th quarter valued at $37,000. Golden State Wealth Management LLC purchased a new stake in shares of Trane Technologies in the 4th quarter worth $39,000. Finally, BankPlus Trust Department bought a new position in Trane Technologies in the 4th quarter worth $45,000. Institutional investors own 82.97% of the company's stock.

Insider Transactions at Trane Technologies

In other news, SVP Evan M. Turtz sold 318 shares of the company's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $358.12, for a total transaction of $113,882.16. Following the transaction, the senior vice president now owns 20,513 shares of the company's stock, valued at approximately $7,346,115.56. This represents a 1.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO David S. Regnery sold 2,754 shares of the firm's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total value of $984,114.36. Following the sale, the chief executive officer now directly owns 132,969 shares of the company's stock, valued at $47,515,142.46. This represents a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,234 shares of company stock worth $2,588,102. 0.38% of the stock is currently owned by company insiders.

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Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Citigroup decreased their price objective on Trane Technologies from $476.00 to $415.00 and set a "buy" rating on the stock in a research note on Monday. JPMorgan Chase & Co. lowered their price target on shares of Trane Technologies from $396.00 to $323.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Barclays reduced their price objective on shares of Trane Technologies from $500.00 to $475.00 and set an "overweight" rating for the company in a research note on Monday, March 10th. Wells Fargo & Company lowered their target price on shares of Trane Technologies from $380.00 to $360.00 and set an "underweight" rating on the stock in a research note on Friday, January 31st. Finally, Melius Research reiterated a "hold" rating and issued a $398.00 price target on shares of Trane Technologies in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $405.31.

Trane Technologies Price Performance

Shares of NYSE TT traded down $1.20 during midday trading on Tuesday, reaching $346.30. 221,258 shares of the stock traded hands, compared to its average volume of 1,283,911. The company's 50 day moving average is $346.92 and its 200 day moving average is $376.13. Trane Technologies plc has a one year low of $286.32 and a one year high of $422.00. 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 $77.67 billion, a PE ratio of 30.78, a P/E/G ratio of 2.50 and a beta of 1.08.

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

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.09%. The ex-dividend date is Friday, June 6th. Trane Technologies's payout ratio is 33.42%.

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.