Great Lakes Advisors LLC lessened its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 12.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,523 shares of the company's stock after selling 1,604 shares during the period. Great Lakes Advisors LLC's holdings in Trane Technologies were worth $4,256,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the company. FMR LLC boosted its stake in Trane Technologies by 4.0% in the 3rd quarter. FMR LLC now owns 10,337,672 shares of the company's stock worth $4,018,563,000 after purchasing an additional 397,537 shares in the last quarter. State Street Corp raised its position in Trane Technologies by 0.8% in the 3rd quarter. State Street Corp now owns 9,769,161 shares of the company's stock worth $3,797,565,000 after buying an additional 77,830 shares during the last quarter. Geode Capital Management LLC raised its position in Trane Technologies by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 4,638,914 shares of the company's stock worth $1,797,700,000 after buying an additional 65,991 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Trane Technologies by 35.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company's stock worth $991,460,000 after buying an additional 671,691 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Trane Technologies by 0.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,142,081 shares of the company's stock worth $832,691,000 after buying an additional 20,151 shares during the last quarter. Institutional investors own 82.97% of the company's stock.
Insider Activity
In other Trane Technologies news, SVP Evan M. Turtz sold 318 shares of the stock in a transaction on Monday, February 10th. The stock was 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 $7,346,115.56. This trade represents a 1.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Christopher J. Kuehn sold 770 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $358.39, for a total value of $275,960.30. Following the completion of the sale, the chief financial officer now owns 62,221 shares in the company, valued at approximately $22,299,384.19. The trade was a 1.22 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,234 shares of company stock worth $2,588,102. 0.38% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on the company. Melius lowered Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 target price for the company. in a research report on Tuesday, January 28th. UBS Group decreased their target price on Trane Technologies from $500.00 to $470.00 and set a "buy" rating for the company in a research report 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 reduced their price target on shares of Trane Technologies from $380.00 to $360.00 and set an "underweight" rating for the company in a research report on Friday, January 31st. Finally, Royal Bank of Canada upped their price target on shares of Trane Technologies from $390.00 to $395.00 and gave the company a "sector perform" rating in a research report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $413.69.
View Our Latest Research Report on Trane Technologies
Trane Technologies Stock Performance
Trane Technologies stock traded up $6.22 during midday trading on Wednesday, hitting $350.28. The stock had a trading volume of 1,063,510 shares, compared to its average volume of 1,160,154. The firm's fifty day moving average is $363.30 and its two-hundred day moving average is $380.04. The company has a market capitalization of $78.56 billion, a PE ratio of 31.14, a P/E/G ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a 52-week low of $286.32 and a 52-week high of $422.00. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58.
Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, topping the consensus estimate 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 Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be given a dividend of $0.94 per share. This is an increase from Trane Technologies's previous quarterly dividend of $0.84. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies's dividend payout ratio is currently 33.42%.
Trane Technologies Company 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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