Gabelli Funds LLC Sells 1,800 Shares of Trane Technologies plc (NYSE:TT)

Gabelli Funds LLC trimmed its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 1.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 94,191 shares of the company's stock after selling 1,800 shares during the period. Gabelli Funds LLC's holdings in Trane Technologies were worth $34,789,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of TT. Vanguard Group Inc. increased its stake in shares of Trane Technologies by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 19,235,570 shares of the company's stock worth $7,104,658,000 after purchasing an additional 152,353 shares in the last quarter. Geode Capital Management LLC raised its stake in Trane Technologies by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 4,775,263 shares of the company's stock valued at $1,760,549,000 after purchasing an additional 136,349 shares in the last quarter. Norges Bank purchased a new position in Trane Technologies in the fourth quarter worth $1,117,816,000. Raymond James Financial Inc. bought a new stake in Trane Technologies during the fourth quarter worth about $611,322,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Trane Technologies by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,248,083 shares of the company's stock worth $460,980,000 after buying an additional 21,678 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Christopher J. Kuehn sold 876 shares of the company's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.42, for a total transaction of $313,099.92. Following the sale, the chief financial officer now directly owns 63,841 shares in the company, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Evan M. Turtz sold 318 shares of the company's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $358.12, for a total value of $113,882.16. Following the sale, the senior vice president now owns 20,513 shares in the company, valued at approximately $7,346,115.56. This trade represents a 1.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,234 shares of company stock worth $2,588,102. 0.38% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on TT shares. UBS Group decreased their price target on Trane Technologies from $500.00 to $470.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Barclays decreased their price objective on shares of Trane Technologies from $500.00 to $475.00 and set an "overweight" rating on the stock in a research report on Monday, March 10th. Royal Bank of Canada boosted their price target on Trane Technologies from $390.00 to $395.00 and gave the company a "sector perform" rating in a report on Friday, January 3rd. JPMorgan Chase & Co. dropped their price objective on Trane Technologies from $396.00 to $323.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Finally, Melius Research reissued a "hold" rating and set a $398.00 target price on shares of Trane Technologies in a research note on Tuesday, January 28th. One research 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $405.31.

Trane Technologies Stock Performance

Shares of TT stock traded up $2.69 during mid-day trading on Friday, reaching $333.33. 2,243,922 shares of the company's stock traded hands, compared to its average volume of 1,297,823. The firm has a 50 day moving average price of $345.60 and a two-hundred day moving average price of $375.21. Trane Technologies plc has a 12 month low of $286.32 and a 12 month high of $422.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. The firm has a market capitalization of $74.76 billion, a PE ratio of 29.63, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings data 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 return on equity of 35.37% and a net margin of 12.94%. On average, research analysts forecast that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

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 issued a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a yield of 1.13%. Trane Technologies's dividend payout ratio is presently 33.42%.

Trane Technologies Profile

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.