Legal & General Group Plc Cuts Holdings in Trane Technologies plc (NYSE:TT)

Legal & General Group Plc lowered its position in Trane Technologies plc (NYSE:TT - Free Report) by 15.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,765,805 shares of the company's stock after selling 310,896 shares during the quarter. Legal & General Group Plc owned approximately 0.78% of Trane Technologies worth $652,201,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of TT. Norges Bank bought a new position in Trane Technologies in the fourth quarter worth approximately $1,117,816,000. Raymond James Financial Inc. bought a new position in shares of Trane Technologies in the 4th quarter worth $611,322,000. Bank Julius Baer & Co. Ltd Zurich lifted its stake in shares of Trane Technologies by 455.2% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 427,226 shares of the company's stock worth $167,977,000 after purchasing an additional 350,277 shares during the last quarter. Nordea Investment Management AB boosted its position in Trane Technologies by 42.9% during the fourth quarter. Nordea Investment Management AB now owns 978,275 shares of the company's stock valued at $361,874,000 after purchasing an additional 293,916 shares in the last quarter. Finally, Caisse Des Depots ET Consignations bought a new position in Trane Technologies in the fourth quarter worth about $98,560,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TT has been the subject of several recent analyst reports. 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 note on Friday, January 3rd. JPMorgan Chase & Co. dropped their target price on Trane Technologies from $396.00 to $323.00 and set a "neutral" rating on the stock in a research note on Tuesday. 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. Citigroup dropped their price target on Trane Technologies from $478.00 to $476.00 and set a "buy" rating on the stock in a research note on Monday, January 13th. Finally, Melius Research reiterated a "hold" rating and issued a $398.00 target price on shares of Trane Technologies in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Trane Technologies currently has an average rating of "Hold" and an average target price of $409.13.

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Insider Transactions at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 2,754 shares of Trane Technologies 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 completion of the transaction, the chief executive officer now directly owns 132,969 shares of the company's stock, valued at $47,515,142.46. The trade was a 2.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 sale, the chief financial officer now directly owns 62,221 shares in the company, valued at $22,299,384.19. This represents a 1.22 % 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.

Trane Technologies Trading Up 2.3 %

Shares of TT traded up $7.84 during mid-day trading on Friday, reaching $346.17. The stock had a trading volume of 1,531,556 shares, compared to its average volume of 1,287,070. Trane Technologies plc has a 52-week low of $286.32 and a 52-week high of $422.00. The firm has a market cap of $77.64 billion, a price-to-earnings ratio of 30.77, a P/E/G ratio of 2.50 and a beta of 1.08. The business's fifty day moving average is $347.12 and its 200 day moving average is $376.46. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88.

Trane Technologies (NYSE:TT - Get Free Report) last announced 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 net margin of 12.94% and a return on equity of 35.37%. On average, sell-side analysts predict that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Announces Dividend

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 1.09%. The ex-dividend date of this dividend is Friday, June 6th. Trane Technologies's dividend payout ratio (DPR) is presently 33.42%.

Trane Technologies Profile

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.