Mariner LLC increased its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 4.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 359,268 shares of the company's stock after buying an additional 14,165 shares during the quarter. Mariner LLC owned about 0.16% of Trane Technologies worth $132,701,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also modified their holdings of the stock. Norges Bank acquired a new stake in shares of Trane Technologies in the fourth quarter worth $1,117,816,000. Raymond James Financial Inc. acquired a new position in shares of Trane Technologies during the fourth quarter worth about $611,322,000. Bank Julius Baer & Co. Ltd Zurich boosted its position in shares of Trane Technologies by 455.2% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 427,226 shares of the company's stock worth $167,977,000 after buying an additional 350,277 shares during the period. Nordea Investment Management AB raised its holdings in shares of Trane Technologies by 42.9% during the 4th quarter. Nordea Investment Management AB now owns 978,275 shares of the company's stock valued at $361,874,000 after buying an additional 293,916 shares during the period. Finally, Caisse Des Depots ET Consignations acquired a new position in Trane Technologies during the 4th quarter worth approximately $98,560,000. 82.97% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Trane Technologies
In other news, SVP Evan M. Turtz sold 318 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $358.12, for a total transaction of $113,882.16. Following the completion of the sale, the senior vice president now owns 20,513 shares in the company, valued at approximately $7,346,115.56. This represents a 1.53 % decrease in their position. The sale was disclosed in a legal 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 sale, 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 7,234 shares of company stock valued at $2,588,102. 0.38% of the stock is owned by corporate insiders.
Analyst Ratings Changes
A number of equities analysts have weighed in on the stock. UBS Group decreased their price objective on shares of Trane Technologies from $500.00 to $470.00 and set a "buy" rating for the company in a research report on Friday, January 31st. JPMorgan Chase & Co. reduced their target price 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 decreased their price objective on shares of Trane Technologies from $476.00 to $415.00 and set a "buy" rating for the company in a report on Monday, April 14th. Royal Bank of Canada upped their target price on shares of Trane Technologies from $390.00 to $395.00 and gave the company a "sector perform" rating in a research note on Friday, January 3rd. Finally, Melius Research reissued a "hold" rating and issued a $398.00 price objective on shares of Trane Technologies in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $405.31.
View Our Latest Stock Analysis on TT
Trane Technologies Stock Performance
Shares of TT traded up $2.69 during mid-day trading on Friday, reaching $333.33. 2,243,922 shares of the company's stock traded hands, compared to its average volume of 1,300,415. Trane Technologies plc has a 12 month low of $286.32 and a 12 month high of $422.00. The stock has a market capitalization of $74.76 billion, a P/E ratio of 29.63, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. The business's 50-day moving average price is $344.98 and its 200-day moving average price is $374.84. 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 issued its quarterly earnings results 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 return on equity of 35.37% and a net margin of 12.94%. Equities analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.
Trane Technologies Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be issued a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.76 annualized dividend and a yield of 1.13%. Trane Technologies's payout ratio is 33.42%.
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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