Marietta Investment Partners LLC increased its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 7.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,832 shares of the company's stock after acquiring an additional 1,580 shares during the quarter. Trane Technologies comprises 1.9% of Marietta Investment Partners LLC's holdings, making the stock its 14th biggest position. Marietta Investment Partners LLC's holdings in Trane Technologies were worth $8,802,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. FMR LLC boosted its position in shares of Trane Technologies by 4.0% in the 3rd quarter. FMR LLC now owns 10,337,672 shares of the company's stock worth $4,018,563,000 after purchasing an additional 397,537 shares in the last quarter. State Street Corp boosted its holdings in Trane Technologies by 0.8% in 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 in the last quarter. Geode Capital Management LLC grew its stake in shares of Trane Technologies by 1.4% during the third quarter. Geode Capital Management LLC now owns 4,638,914 shares of the company's stock worth $1,797,700,000 after acquiring an additional 65,991 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Trane Technologies by 0.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,142,081 shares of the company's stock valued at $832,691,000 after acquiring an additional 20,151 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of 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.
Analyst Ratings Changes
Several analysts have weighed in on the stock. Citigroup dropped their target price on shares of Trane Technologies from $478.00 to $476.00 and set a "buy" rating on the stock 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 company a "sector perform" rating in a report on Friday, January 3rd. Melius Research restated a "hold" rating and issued a $398.00 target price on shares of Trane Technologies in a research note on Tuesday, January 28th. JPMorgan Chase & Co. boosted their price target on Trane Technologies from $387.00 to $396.00 and gave the company a "neutral" rating in a research note on Friday, January 31st. Finally, UBS Group reduced their price objective 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. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, Trane Technologies presently has a consensus rating of "Hold" and an average price target of $413.69.
Read Our Latest Research Report on TT
Trane Technologies Price Performance
Shares of NYSE TT traded down $11.71 during midday trading on Wednesday, hitting $352.29. The company had a trading volume of 2,686,815 shares, compared to its average volume of 1,178,947. Trane Technologies plc has a twelve month low of $286.32 and a twelve month high of $422.00. The firm has a market capitalization of $79.01 billion, a price-to-earnings ratio of 31.31, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. The business has a 50-day simple moving average of $359.83 and a two-hundred day simple moving average of $380.06. 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 issued its quarterly earnings data on Thursday, January 30th. The company reported $2.61 EPS 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%. Equities research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current year.
Trane Technologies Increases Dividend
The business also recently disclosed 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 is an increase from Trane Technologies's previous quarterly dividend of $0.84. This represents a $3.76 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies's dividend payout ratio is currently 33.42%.
Insider Activity at Trane Technologies
In other news, CFO Christopher J. Kuehn sold 876 shares of the company's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.42, for a total value of $313,099.92. Following the completion of the transaction, the chief financial officer now directly owns 63,841 shares in the company, valued at approximately $22,818,050.22. This represents a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David S. Regnery sold 2,754 shares of Trane Technologies stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total value of $984,114.36. Following the sale, the chief executive officer now owns 132,969 shares in the company, valued at $47,515,142.46. This represents a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,234 shares of company stock valued at $2,588,102. 0.38% of the stock is owned by insiders.
Trane Technologies 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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