Grantham Mayo Van Otterloo & Co. LLC cut its stake in Trane Technologies plc (NYSE:TT - Free Report) by 8.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,188 shares of the company's stock after selling 2,537 shares during the period. Grantham Mayo Van Otterloo & Co. LLC's holdings in Trane Technologies were worth $10,781,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Trane Technologies during the fourth quarter worth approximately $1,117,816,000. Raymond James Financial Inc. purchased a new position in Trane Technologies during the 4th quarter worth $611,322,000. Bank Julius Baer & Co. Ltd Zurich raised its position in 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 valued at $167,977,000 after purchasing an additional 350,277 shares in the last quarter. Nordea Investment Management AB lifted 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 buying an additional 293,916 shares during the period. Finally, Caisse Des Depots ET Consignations bought a new position in shares of Trane Technologies during the 4th quarter worth $98,560,000. Hedge funds and other institutional investors own 82.97% of the company's stock.
Trane Technologies Stock Up 1.3 %
Trane Technologies stock traded up $4.25 during midday trading on Friday, reaching $342.58. The company's stock had a trading volume of 388,541 shares, compared to its average volume of 1,280,931. Trane Technologies plc has a 52-week low of $286.32 and a 52-week high of $422.00. The stock has a market capitalization of $76.84 billion, a P/E ratio of 30.40, a PEG ratio of 2.50 and a beta of 1.08. 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's 50-day simple moving average is $347.31 and its 200-day simple moving average is $376.74.
Trane Technologies (NYSE:TT - Get Free Report) last released its earnings results on Thursday, January 30th. The company reported $2.61 EPS for the quarter, topping 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%. On average, sell-side analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.
Trane Technologies Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.10%. The ex-dividend date is Friday, June 6th. Trane Technologies's payout ratio is 33.42%.
Insider Buying and Selling
In other news, CEO David S. Regnery sold 2,754 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total value of $984,114.36. Following the sale, the chief executive officer now owns 132,969 shares in the company, valued at $47,515,142.46. This represents a 2.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Christopher J. Kuehn sold 770 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $358.39, for a total value of $275,960.30. Following the sale, the chief financial officer now directly owns 62,221 shares in the company, valued at $22,299,384.19. This represents a 1.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,234 shares of company stock worth $2,588,102 in the last 90 days. Insiders own 0.38% of the company's stock.
Analyst Ratings Changes
Several analysts recently weighed in on TT shares. Melius Research restated a "hold" rating and issued a $398.00 price objective on shares of Trane Technologies in a report on Tuesday, January 28th. Citigroup reduced their price target on shares of Trane Technologies from $478.00 to $476.00 and set a "buy" rating for the company in a report on Monday, January 13th. UBS Group dropped 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 downgraded shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 price objective for the company. in a research note on Tuesday, January 28th. Finally, Royal Bank of Canada upped their target price on Trane Technologies from $390.00 to $395.00 and gave the stock a "sector perform" rating in a report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $409.13.
View Our Latest Research Report on Trane Technologies
About Trane Technologies
(
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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