Kornitzer Capital Management Inc. KS cut its stake in Trane Technologies plc (NYSE:TT - Free Report) by 20.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,125 shares of the company's stock after selling 800 shares during the quarter. Kornitzer Capital Management Inc. KS's holdings in Trane Technologies were worth $1,154,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of TT. Swedbank AB increased its position in shares of Trane Technologies by 2.8% during the third quarter. Swedbank AB now owns 743,794 shares of the company's stock worth $289,135,000 after acquiring an additional 20,400 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position 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 worth $26,404,000 after acquiring an additional 14,273 shares during the last quarter. Whittier Trust Co. increased its position in shares of Trane Technologies by 2.9% during the third quarter. Whittier Trust Co. now owns 3,559 shares of the company's stock worth $1,383,000 after acquiring an additional 99 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in Trane Technologies by 12.1% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 2,152 shares of the company's stock worth $837,000 after purchasing an additional 232 shares in the last quarter. Finally, Raleigh Capital Management Inc. grew its stake in Trane Technologies by 9.6% in the third quarter. Raleigh Capital Management Inc. now owns 458 shares of the company's stock worth $178,000 after purchasing an additional 40 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on TT. Robert W. Baird decreased their price target on Trane Technologies from $408.00 to $404.00 and set a "neutral" rating for the company in a research note on Thursday, October 31st. Hsbc Global Res downgraded Trane Technologies from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 31st. Melius downgraded Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 price target for the company. in a research note on Tuesday, January 28th. UBS Group decreased their price target on Trane Technologies from $500.00 to $470.00 and set a "buy" rating for the company in a research note on Friday, January 31st. Finally, HSBC downgraded Trane Technologies from a "buy" rating to a "hold" rating and set a $405.00 target price for the company. in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $415.25.
Check Out Our Latest Research Report on TT
Insider Buying and Selling
In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of the company's stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total value of $1,800,864.00. Following the transaction, the senior vice president now owns 12,893 shares of the company's stock, valued at approximately $5,363,488. This represents a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David S. Regnery sold 2,754 shares of the company's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total value of $984,114.36. Following the completion of the transaction, the chief executive officer now directly owns 132,969 shares in the company, valued at $47,515,142.46. This represents a 2.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,563 shares of company stock valued at $4,388,966 over the last quarter. Corporate insiders own 0.38% of the company's stock.
Trane Technologies Stock Performance
Shares of NYSE TT traded down $12.08 during midday trading on Friday, hitting $354.56. 1,163,504 shares of the company's stock were exchanged, compared to its average volume of 1,574,725. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. The stock's 50 day moving average price is $374.82 and its 200-day moving average price is $379.44. The firm has a market cap of $79.52 billion, a P/E ratio of 31.52, a PEG ratio of 2.50 and a beta of 1.05. Trane Technologies plc has a twelve month low of $279.00 and a twelve month high of $422.00.
Trane Technologies (NYSE:TT - Get Free Report) last announced its earnings results on Thursday, January 30th. The company reported $2.61 EPS for the quarter, topping the consensus estimate of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. Equities research analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.
Trane Technologies Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be issued a dividend of $0.94 per share. This is a boost from Trane Technologies's previous quarterly dividend of $0.84. The ex-dividend date is Friday, March 7th. This represents a $3.76 annualized dividend and a yield of 1.06%. Trane Technologies's payout ratio is presently 29.87%.
Trane Technologies Company 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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