FMR LLC increased its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 0.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,357,926 shares of the company's stock after buying an additional 20,254 shares during the period. FMR LLC owned about 4.60% of Trane Technologies worth $3,825,700,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. IHT Wealth Management LLC boosted its holdings in Trane Technologies by 55.3% in the third quarter. IHT Wealth Management LLC now owns 1,249 shares of the company's stock valued at $485,000 after purchasing an additional 445 shares during the last quarter. Quantinno Capital Management LP raised its position in shares of Trane Technologies by 40.6% in the 3rd quarter. Quantinno Capital Management LP now owns 10,991 shares of the company's stock valued at $4,273,000 after purchasing an additional 3,174 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Trane Technologies by 4.3% during the 3rd quarter. Wellington Management Group LLP now owns 728,428 shares of the company's stock valued at $283,162,000 after buying an additional 30,038 shares during the last quarter. Voya Financial Advisors Inc. acquired a new stake in shares of Trane Technologies during the third quarter worth approximately $289,000. Finally, Kovitz Investment Group Partners LLC bought a new stake in shares of Trane Technologies in the third quarter worth $1,438,000. Institutional investors and hedge funds own 82.97% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms have commented on TT. UBS Group reduced their price objective 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. Melius Research reaffirmed a "hold" rating and set a $398.00 price target on shares of Trane Technologies in a research report on Tuesday, January 28th. Wells Fargo & Company lowered their price objective on Trane Technologies from $380.00 to $360.00 and set an "underweight" rating for the company in a report on Friday, January 31st. JPMorgan Chase & Co. reduced their target price on Trane Technologies from $396.00 to $323.00 and set a "neutral" rating on the stock in a report on Tuesday. Finally, Royal Bank of Canada lifted their target price on Trane Technologies from $390.00 to $395.00 and gave the stock a "sector perform" rating in a research report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Trane Technologies currently has an average rating of "Hold" and an average price target of $409.13.
View Our Latest Stock Analysis on Trane Technologies
Trane Technologies Stock Performance
TT stock traded up $5.72 during mid-day trading on Friday, reaching $344.05. The company had a trading volume of 577,110 shares, compared to its average volume of 1,281,604. The stock's 50-day simple moving average is $347.31 and its two-hundred day simple moving average is $376.74. The stock has a market capitalization of $77.17 billion, a P/E ratio of 30.41, a P/E/G ratio of 2.50 and a beta of 1.08. 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 plc has a one year low of $286.32 and a one year high of $422.00.
Trane Technologies (NYSE:TT - Get Free Report) last posted its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, beating 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%. Research analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.
Trane Technologies Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date is Friday, June 6th. Trane Technologies's dividend payout ratio (DPR) is 33.42%.
Insider Activity at Trane Technologies
In related news, SVP Evan M. Turtz sold 318 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $358.12, for a total value of $113,882.16. Following the completion of the transaction, the senior vice president now owns 20,513 shares in the company, valued at $7,346,115.56. This represents a 1.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO David S. Regnery sold 2,754 shares of the firm's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total transaction of $984,114.36. Following the transaction, the chief executive officer now directly owns 132,969 shares in the company, 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 have sold a total of 7,234 shares of company stock worth $2,588,102 in the last three months. 0.38% of the stock is owned by company insiders.
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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