Independent Advisor Alliance increased its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 17.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,298 shares of the company's stock after buying an additional 954 shares during the quarter. Independent Advisor Alliance's holdings in Trane Technologies were worth $2,326,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in shares of Trane Technologies in the fourth quarter valued at about $611,322,000. Massachusetts Financial Services Co. MA increased its stake 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 valued at $991,460,000 after buying an additional 671,691 shares during the last quarter. FMR LLC lifted its position in shares of Trane Technologies by 4.0% during the 3rd quarter. FMR LLC now owns 10,337,672 shares of the company's stock worth $4,018,563,000 after buying an additional 397,537 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its stake in shares of Trane Technologies by 455.2% in 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. Finally, Nordea Investment Management AB grew its holdings in shares of 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 acquiring an additional 293,916 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.
Trane Technologies Stock Performance
Shares of TT opened at $338.29 on Friday. 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 stock has a market capitalization of $75.87 billion, a price-to-earnings ratio of 30.07, a price-to-earnings-growth 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 stock's 50-day simple moving average is $365.31 and its 200 day simple moving average is $379.82.
Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The company reported $2.61 EPS for the quarter, beating 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%. Research analysts forecast that Trane Technologies plc will post 12.83 EPS for the current fiscal year.
Trane Technologies Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.11%. This is a boost from Trane Technologies's previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies's payout ratio is presently 33.42%.
Analysts Set New Price Targets
A number of analysts recently commented on TT shares. Melius lowered Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 price target on the stock. in a report on Tuesday, January 28th. Barclays cut their price target on shares of Trane Technologies from $500.00 to $475.00 and set an "overweight" rating on the stock in a report on Monday. Melius Research restated a "hold" rating and set a $398.00 price objective on shares of Trane Technologies in a report on Tuesday, January 28th. UBS Group reduced 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 report on Friday, January 31st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Trane Technologies from $387.00 to $396.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. One research 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. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $413.69.
Read Our Latest Stock Report on Trane Technologies
Insider Buying and Selling at Trane Technologies
In related news, SVP Evan M. Turtz sold 318 shares of the company's stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 20,513 shares in the company, valued at approximately $7,346,115.56. The trade was a 1.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Mairead Magner sold 198 shares of the firm's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total value 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 7,234 shares of company stock valued at $2,588,102 in the last 90 days. Corporate insiders own 0.38% of the company's stock.
Trane Technologies 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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