Franklin Resources Inc. Lowers Stock Position in Trane Technologies plc (NYSE:TT)

Franklin Resources Inc. decreased its position in Trane Technologies plc (NYSE:TT - Free Report) by 4.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,566,503 shares of the company's stock after selling 130,558 shares during the period. Franklin Resources Inc. owned approximately 1.14% of Trane Technologies worth $1,039,355,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Peapack Gladstone Financial Corp lifted its holdings in shares of Trane Technologies by 3.4% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 99,734 shares of the company's stock worth $38,770,000 after purchasing an additional 3,313 shares in the last quarter. Synovus Financial Corp boosted its stake in shares of Trane Technologies by 16.8% in the 3rd quarter. Synovus Financial Corp now owns 8,828 shares of the company's stock worth $3,431,000 after buying an additional 1,271 shares during the last quarter. Tidal Investments LLC grew its stake in Trane Technologies by 22.2% in the 3rd quarter. Tidal Investments LLC now owns 15,827 shares of the company's stock valued at $6,152,000 after purchasing an additional 2,874 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Trane Technologies during the third quarter valued at about $3,916,000. Finally, Sfmg LLC grew its position in shares of Trane Technologies by 1.5% during the 3rd quarter. Sfmg LLC now owns 2,441 shares of the company's stock valued at $949,000 after acquiring an additional 36 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Trane Technologies

In related news, SVP Mairead Magner sold 4,329 shares of Trane Technologies stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total value of $1,800,864.00. Following the completion of the sale, the senior vice president now owns 12,893 shares of the company's stock, valued at $5,363,488. The trade was a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.38% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. UBS Group began coverage on Trane Technologies in a report on Wednesday, November 13th. They issued a "buy" rating and a $500.00 price objective for the company. The Goldman Sachs Group upped their price target on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a "neutral" rating in a report on Wednesday, October 9th. Barclays raised their target price on shares of Trane Technologies from $440.00 to $500.00 and gave the company an "overweight" rating in a research note on Thursday, December 5th. Citigroup lifted their price target on Trane Technologies from $457.00 to $478.00 and gave the stock a "buy" rating in a research note on Monday. Finally, Morgan Stanley began coverage on shares of Trane Technologies in a report on Friday, September 6th. They issued an "overweight" rating and a $425.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $409.93.

Trane Technologies Trading Down 0.1 %

Shares of TT traded down $0.30 during trading hours on Friday, reaching $399.36. 852,327 shares of the company traded hands, compared to its average volume of 1,116,655. Trane Technologies plc has a 12 month low of $233.76 and a 12 month high of $422.00. The company has a market capitalization of $89.87 billion, a price-to-earnings ratio of 37.07, a price-to-earnings-growth ratio of 2.43 and a beta of 1.03. The company's fifty day moving average price is $401.83 and its two-hundred day moving average price is $363.86. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.14. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The company had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.32 billion. During the same period last year, the business earned $2.79 EPS. Trane Technologies's quarterly revenue was up 10.0% compared to the same quarter last year. Equities research analysts predict that Trane Technologies plc will post 11.13 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be paid a $0.84 dividend. The ex-dividend date is Friday, December 6th. This represents a $3.36 annualized dividend and a dividend yield of 0.84%. Trane Technologies's dividend payout ratio is presently 31.17%.

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.