26,500 Shares in Trane Technologies plc (NYSE:TT) Acquired by Ilmarinen Mutual Pension Insurance Co

Ilmarinen Mutual Pension Insurance Co purchased a new position in Trane Technologies plc (NYSE:TT - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 26,500 shares of the company's stock, valued at approximately $9,788,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in Trane Technologies during the fourth quarter valued at approximately $1,117,816,000. Raymond James Financial Inc. acquired a new stake in shares of Trane Technologies in the 4th quarter worth $611,322,000. Bank Julius Baer & Co. Ltd Zurich grew its stake 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 worth $167,977,000 after buying an additional 350,277 shares during the last quarter. Nordea Investment Management AB raised its stake in Trane Technologies by 42.9% in the fourth quarter. Nordea Investment Management AB now owns 978,275 shares of the company's stock valued at $361,874,000 after buying an additional 293,916 shares during the last quarter. Finally, Caisse Des Depots ET Consignations acquired a new stake in Trane Technologies in the fourth quarter worth about $98,560,000. 82.97% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Evan M. Turtz sold 318 shares of Trane Technologies stock in a transaction dated Monday, February 10th. The stock was 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 approximately $7,346,115.56. This trade represents a 1.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Mairead Magner sold 198 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total transaction of $70,806.78. Following the sale, the senior vice president now owns 13,401 shares in the company, valued at $4,792,331.61. The trade was a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,234 shares of company stock valued at $2,588,102 in the last 90 days. Company insiders own 0.38% of the company's stock.

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Trane Technologies Price Performance

Trane Technologies stock traded up $5.14 during trading on Friday, reaching $343.47. The company had a trading volume of 440,606 shares, compared to its average volume of 1,281,248. The firm has a market capitalization of $77.04 billion, a PE ratio of 30.62, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. The firm's 50-day simple moving average is $347.31 and its 200 day simple moving average is $376.74. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. Trane Technologies plc has a 1-year low of $286.32 and a 1-year high of $422.00.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The company reported $2.61 EPS for the quarter, beating 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%. As a group, equities research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend is Friday, June 6th. Trane Technologies's dividend payout ratio (DPR) is presently 33.42%.

Analysts Set New Price Targets

A number of research firms recently commented on TT. UBS Group lowered their target price on shares of Trane Technologies from $500.00 to $470.00 and set a "buy" rating for the company in a research note on Friday, January 31st. JPMorgan Chase & Co. lowered their price objective on shares of Trane Technologies from $396.00 to $323.00 and set a "neutral" rating for the company in a research note on Tuesday. Citigroup cut their target price on Trane Technologies from $478.00 to $476.00 and set a "buy" rating on the stock in a research report on Monday, January 13th. Melius downgraded Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 price target on the stock. in a research note on Tuesday, January 28th. Finally, Barclays reduced their price target on shares of Trane Technologies from $500.00 to $475.00 and set an "overweight" rating for the company in a research report on Monday, March 10th. One investment 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's stock. Based on data from MarketBeat.com, Trane Technologies has a consensus rating of "Hold" and a consensus target price of $409.13.

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.