KLP Kapitalforvaltning AS purchased a new position in Trane Technologies plc (NYSE:TT - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 114,183 shares of the company's stock, valued at approximately $42,173,000. KLP Kapitalforvaltning AS owned 0.05% of Trane Technologies at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC lifted its holdings in Trane Technologies by 4.0% during the third quarter. FMR LLC now owns 10,337,672 shares of the company's stock valued at $4,018,563,000 after purchasing an additional 397,537 shares in the last quarter. State Street Corp lifted its stake in shares of Trane Technologies by 0.8% during the 3rd quarter. State Street Corp now owns 9,769,161 shares of the company's stock valued at $3,797,565,000 after buying an additional 77,830 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Trane Technologies by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 4,638,914 shares of the company's stock worth $1,797,700,000 after buying an additional 65,991 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Trane Technologies by 0.9% in 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 buying an additional 20,151 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Trane Technologies during the fourth quarter valued at about $611,322,000. Hedge funds and other institutional investors own 82.97% of the company's stock.
Insider Activity at Trane Technologies
In other news, 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 of the company's stock, valued at approximately $47,515,142.46. This represents a 2.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Christopher J. Kuehn sold 876 shares of Trane Technologies stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.42, for a total value of $313,099.92. Following the transaction, the chief financial officer now owns 63,841 shares of the company's stock, valued at $22,818,050.22. The trade was a 1.35 % 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 over the last ninety days. 0.38% of the stock is owned by company insiders.
Trane Technologies Trading Down 3.2 %
NYSE:TT traded down $11.71 during mid-day trading on Wednesday, hitting $352.29. 2,686,815 shares of the stock traded hands, compared to its average volume of 1,178,947. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $79.01 billion, a price-to-earnings ratio of 31.31, a PEG 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 firm's 50 day moving average is $359.83 and its two-hundred day moving average is $380.06.
Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. On average, equities research analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.
Trane Technologies Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Friday, March 7th. This is a boost from Trane Technologies's previous quarterly dividend of $0.84. Trane Technologies's dividend payout ratio is presently 33.42%.
Wall Street Analyst Weigh In
Several research firms recently issued reports on TT. Melius cut Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 target price for the company. in a research report on Tuesday, January 28th. Wells Fargo & Company reduced their price objective on shares of Trane Technologies from $380.00 to $360.00 and set an "underweight" rating on the stock in a research report on Friday, January 31st. JPMorgan Chase & Co. upped their target price on shares of Trane Technologies from $387.00 to $396.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Melius Research reiterated a "hold" rating and issued a $398.00 price target on shares of Trane Technologies in a report on Tuesday, January 28th. Finally, Citigroup decreased their price target on shares of Trane Technologies from $478.00 to $476.00 and set a "buy" rating on the stock in a research note on Monday, January 13th. One 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $413.69.
Check Out Our Latest Stock Analysis 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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