Inspire Advisors LLC bought a new stake in Trane Technologies plc (NYSE:TT - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,101 shares of the company's stock, valued at approximately $776,000.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. FMR LLC increased its position in Trane Technologies by 4.0% during the third 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 during the period. State Street Corp grew its position in shares of Trane Technologies by 0.8% during the third quarter. State Street Corp now owns 9,769,161 shares of the company's stock worth $3,797,565,000 after acquiring an additional 77,830 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Trane Technologies by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 4,638,914 shares of the company's stock valued at $1,797,700,000 after acquiring an additional 65,991 shares during the period. 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 valued at $991,460,000 after purchasing an additional 671,691 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Trane Technologies by 0.9% during 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 purchasing an additional 20,151 shares during the period. Institutional investors and hedge funds own 82.97% of the company's stock.
Insider Transactions at Trane Technologies
In other news, SVP Mairead Magner sold 198 shares of the company's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total transaction of $70,806.78. Following the completion of the transaction, the senior vice president now owns 13,401 shares in the company, valued at approximately $4,792,331.61. This represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 transaction of $275,960.30. Following the completion of the sale, the chief financial officer now directly owns 62,221 shares in the company, valued at approximately $22,299,384.19. This trade represents a 1.22 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,234 shares of company stock worth $2,588,102. 0.38% of the stock is currently owned by insiders.
Trane Technologies Stock Down 1.1 %
NYSE TT opened at $334.57 on Wednesday. The stock has a market cap of $75.04 billion, a PE ratio of 29.74, a P/E/G ratio of 2.50 and a beta of 1.08. The business has a 50 day moving average price of $366.61 and a two-hundred day moving average price of $380.39. Trane Technologies plc has a fifty-two week low of $281.46 and a fifty-two week high of $422.00. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58.
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%. As a group, sell-side analysts predict 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. Shareholders of record on Friday, March 7th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.12%. This is a boost from Trane Technologies's previous quarterly dividend of $0.84. The ex-dividend date is Friday, March 7th. Trane Technologies's dividend payout ratio is 33.42%.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on TT. Northcoast Research started 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 on the stock. Citigroup dropped their price target on Trane Technologies from $478.00 to $476.00 and set a "buy" rating for the company in a research report on Monday, January 13th. Royal Bank of Canada boosted their price objective on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a "sector perform" rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. raised their target price on shares of Trane Technologies from $387.00 to $396.00 and gave the company a "neutral" rating in a report on Friday, January 31st. Finally, Wells Fargo & Company dropped their price target on Trane Technologies from $380.00 to $360.00 and set an "underweight" rating for the company in a research report on Friday, January 31st. One 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's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $413.69.
Check Out Our Latest 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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