ING Groep NV decreased its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 20.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 204,040 shares of the company's stock after selling 51,641 shares during the period. ING Groep NV owned approximately 0.09% of Trane Technologies worth $75,362,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the company. Swedbank AB increased its holdings in shares of Trane Technologies by 2.8% in the 3rd quarter. Swedbank AB now owns 743,794 shares of the company's stock worth $289,135,000 after buying an additional 20,400 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Trane Technologies by 26.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 67,925 shares of the company's stock valued at $26,404,000 after buying an additional 14,273 shares during the last quarter. Whittier Trust Co. raised its holdings in shares of Trane Technologies by 2.9% in the third quarter. Whittier Trust Co. now owns 3,559 shares of the company's stock worth $1,383,000 after buying an additional 99 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Trane Technologies by 12.1% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,152 shares of the company's stock worth $837,000 after acquiring an additional 232 shares during the last quarter. Finally, Raleigh Capital Management Inc. boosted its holdings in Trane Technologies by 9.6% during the 3rd quarter. Raleigh Capital Management Inc. now owns 458 shares of the company's stock valued at $178,000 after acquiring an additional 40 shares during the period. Hedge funds and other institutional investors own 82.97% of the company's stock.
Insider Transactions at Trane Technologies
In related news, SVP Mairead Magner sold 4,329 shares of Trane Technologies stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total value of $1,800,864.00. Following the completion of the sale, the senior vice president now directly owns 12,893 shares in the company, valued at $5,363,488. This trade represents a 25.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO David S. Regnery sold 2,754 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total transaction of $984,114.36. Following the transaction, the chief executive officer now owns 132,969 shares in the company, valued at $47,515,142.46. The trade was a 2.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,563 shares of company stock valued at $4,388,966 in the last quarter. 0.38% of the stock is currently owned by corporate insiders.
Trane Technologies Stock Down 3.3 %
TT stock traded down $12.08 during trading on Friday, reaching $354.56. 1,163,504 shares of the company traded hands, compared to its average volume of 1,485,568. The business has a 50 day simple moving average of $375.72 and a 200 day simple moving average of $379.16. Trane Technologies plc has a 12 month low of $279.00 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 company has a market capitalization of $79.52 billion, a price-to-earnings ratio of 31.52, a price-to-earnings-growth ratio of 2.53 and a beta of 1.05.
Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share 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%. On average, equities research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.
Trane Technologies Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.06%. The ex-dividend date is Friday, March 7th. This is a positive change from Trane Technologies's previous quarterly dividend of $0.84. Trane Technologies's dividend payout ratio is currently 29.87%.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on the company. Royal Bank of Canada lifted their target price on Trane Technologies from $390.00 to $395.00 and gave the stock a "sector perform" rating in a research report on Friday, January 3rd. Northcoast Research began coverage on shares of Trane Technologies in a research report on Friday, November 22nd. They issued a "buy" rating and a $500.00 price objective for the company. Robert W. Baird dropped their target price on shares of Trane Technologies from $408.00 to $404.00 and set a "neutral" rating on the stock in a research note on Thursday, October 31st. JPMorgan Chase & Co. lifted their price target on shares of Trane Technologies from $387.00 to $396.00 and gave the company a "neutral" rating in a research note on Friday, January 31st. Finally, Melius cut Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 price objective on the stock. in a research note on Tuesday, January 28th. One equities 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. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $415.25.
View Our Latest Stock Report on Trane Technologies
Trane Technologies Company Profile
(
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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