First Trust Advisors LP lifted its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 80.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 218,934 shares of the company's stock after acquiring an additional 97,543 shares during the quarter. First Trust Advisors LP owned 0.10% of Trane Technologies worth $80,863,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in TT. Norges Bank acquired a new stake in shares of Trane Technologies in the fourth quarter valued at about $1,117,816,000. Raymond James Financial Inc. acquired a new stake in shares of Trane Technologies during the 4th quarter valued at approximately $611,322,000. Bank Julius Baer & Co. Ltd Zurich boosted its stake in shares of Trane Technologies by 455.2% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 427,226 shares of the company's stock worth $167,977,000 after acquiring an additional 350,277 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of Trane Technologies by 42.9% in the 4th quarter. Nordea Investment Management AB now owns 978,275 shares of the company's stock worth $361,874,000 after acquiring an additional 293,916 shares during the period. Finally, Caisse Des Depots ET Consignations purchased a new position in Trane Technologies in the 4th quarter valued at approximately $98,560,000. 82.97% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several analysts have weighed in on the company. Royal Bank of Canada upped their target price on Trane Technologies from $390.00 to $395.00 and gave the company a "sector perform" rating in a report on Friday, January 3rd. Barclays dropped their target price on shares of Trane Technologies from $500.00 to $475.00 and set an "overweight" rating for the company in a report on Monday, March 10th. Wells Fargo & Company dropped their price objective on shares of Trane Technologies from $380.00 to $360.00 and set an "underweight" rating for the company in a research note on Friday, January 31st. UBS Group reduced their price objective 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. Finally, Citigroup dropped their price objective on Trane Technologies from $476.00 to $415.00 and set a "buy" rating for the company in a research report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $405.31.
Check Out Our Latest Stock Analysis on TT
Trane Technologies Trading Up 2.1 %
Shares of TT traded up $6.96 during mid-day trading on Thursday, reaching $342.83. The company had a trading volume of 1,261,471 shares, compared to its average volume of 1,307,900. The stock has a market cap of $76.89 billion, a price-to-earnings ratio of 30.47, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The firm has a fifty day simple moving average of $342.66 and a 200-day simple moving average of $373.33. Trane Technologies plc has a fifty-two week low of $291.37 and a fifty-two week high of $422.00.
Trane Technologies (NYSE:TT - Get Free Report) last issued its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, beating 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%. On average, sell-side analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.
Trane Technologies Dividend Announcement
The firm also recently declared 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 dividend on an annualized basis and a yield of 1.10%. Trane Technologies's dividend payout ratio (DPR) is 33.42%.
Insiders Place Their Bets
In other Trane Technologies news, CFO Christopher J. Kuehn sold 876 shares of the business's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total transaction of $313,099.92. Following the transaction, the chief financial officer now owns 63,841 shares in the company, valued at $22,818,050.22. The trade was a 1.35 % decrease in their ownership of the stock. 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 company's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total value of $984,114.36. Following the completion of the sale, the chief executive officer now directly owns 132,969 shares of the company's stock, valued at $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 a total of 7,234 shares of company stock worth $2,588,102 over the last ninety days. 0.38% of the stock is owned by company insiders.
About Trane Technologies
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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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