Trane Technologies plc (NYSE:TT) Shares Sold by Invesco Ltd.

Invesco Ltd. reduced its position in Trane Technologies plc (NYSE:TT - Free Report) by 0.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,572,154 shares of the company's stock after selling 10,657 shares during the quarter. Invesco Ltd. owned about 0.70% of Trane Technologies worth $580,675,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in TT. Vanguard Group Inc. increased its position in Trane Technologies by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 19,235,570 shares of the company's stock valued at $7,104,658,000 after buying an additional 152,353 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Trane Technologies by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 4,775,263 shares of the company's stock valued at $1,760,549,000 after acquiring an additional 136,349 shares in the last quarter. Norges Bank purchased a new position in shares of Trane Technologies in the 4th quarter valued at approximately $1,117,816,000. Raymond James Financial Inc. acquired a new stake in Trane Technologies in the 4th quarter worth approximately $611,322,000. Finally, Charles Schwab Investment Management Inc. grew its position in Trane Technologies by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,248,083 shares of the company's stock worth $460,980,000 after purchasing an additional 21,678 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 770 shares of the firm's stock in a transaction on 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 transaction, the chief financial officer now directly owns 62,221 shares in the company, valued at $22,299,384.19. This trade represents a 1.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO David S. Regnery sold 2,754 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total value of $984,114.36. Following the transaction, the chief executive officer now directly owns 132,969 shares in the company, valued at approximately $47,515,142.46. The trade was a 2.03 % 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 company insiders.

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Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on TT shares. Royal Bank of Canada lifted 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 note on Friday, January 3rd. JPMorgan Chase & Co. reduced their price objective on Trane Technologies from $396.00 to $323.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Citigroup dropped 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. Wells Fargo & Company dropped their price objective on shares of Trane Technologies from $380.00 to $360.00 and set an "underweight" rating on the stock in a report on Friday, January 31st. Finally, Melius Research reaffirmed a "hold" rating and issued a $398.00 price target on shares of Trane Technologies in a report on Tuesday, January 28th. One 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, the stock presently has a consensus rating of "Hold" and an average target price of $409.13.

Trane Technologies Trading Up 1.2 %

Shares of TT stock traded up $4.11 on Monday, hitting $349.92. 263,352 shares of the stock traded hands, compared to its average volume of 1,284,313. Trane Technologies plc has a twelve month low of $286.32 and a twelve month high of $422.00. The stock has a market capitalization of $78.48 billion, a PE ratio of 31.10, a PEG ratio of 2.50 and a beta of 1.08. The firm's 50-day moving average price is $347.12 and its two-hundred day moving average price is $376.38. 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 (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, beating the consensus estimate 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, analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Friday, June 6th. Trane Technologies's dividend payout ratio (DPR) is presently 33.42%.

About Trane Technologies

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.