Maryland State Retirement & Pension System lowered its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 7.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,148 shares of the company's stock after selling 908 shares during the quarter. Maryland State Retirement & Pension System's holdings in Trane Technologies were worth $4,487,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new position in shares of Trane Technologies during the 4th quarter valued at $611,322,000. Massachusetts Financial Services Co. MA lifted its position in shares of Trane Technologies by 35.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company's stock valued at $991,460,000 after acquiring an additional 671,691 shares in the last quarter. FMR LLC grew its position in shares of Trane Technologies by 4.0% during the third 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. Bank Julius Baer & Co. Ltd Zurich raised its stake in 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 valued at $167,977,000 after purchasing an additional 350,277 shares during the period. Finally, Nordea Investment Management AB boosted its stake in Trane Technologies by 42.9% in the 4th quarter. Nordea Investment Management AB now owns 978,275 shares of the company's stock worth $361,874,000 after purchasing an additional 293,916 shares during the period. 82.97% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several equities analysts have recently commented on the stock. Royal Bank of Canada boosted their target price on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a "sector perform" rating in a report on Friday, January 3rd. Citigroup cut their price objective on Trane Technologies from $478.00 to $476.00 and set a "buy" rating for the company in a research report on Monday, January 13th. Wells Fargo & Company decreased their target price on Trane Technologies from $380.00 to $360.00 and set an "underweight" rating on the stock in a research report on Friday, January 31st. Melius cut Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 price target for the company. in a report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. upped their price objective on Trane Technologies from $387.00 to $396.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $413.69.
Read Our Latest Stock Report on Trane Technologies
Trane Technologies Trading Up 3.3 %
NYSE TT traded up $11.44 during trading on Monday, hitting $358.58. The stock had a trading volume of 1,587,788 shares, compared to its average volume of 1,167,791. The stock has a market capitalization of $80.43 billion, a price-to-earnings ratio of 31.87, a P/E/G ratio of 2.50 and a beta of 1.08. The stock has a 50 day simple moving average of $361.24 and a 200 day simple moving average of $379.99. Trane Technologies plc has a one year low of $286.32 and a one year high of $422.00. 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 announced its quarterly earnings data on Thursday, January 30th. The company reported $2.61 EPS for the quarter, beating 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%. Sell-side analysts predict 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. Investors of record on Friday, March 7th will be issued a dividend of $0.94 per share. This is a positive change from Trane Technologies's previous quarterly dividend of $0.84. The ex-dividend date is Friday, March 7th. This represents a $3.76 dividend on an annualized basis and a yield of 1.05%. Trane Technologies's dividend payout ratio (DPR) is presently 33.42%.
Insider Buying and Selling at Trane Technologies
In other Trane Technologies news, CEO David S. Regnery sold 2,754 shares of Trane Technologies stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total transaction of $984,114.36. Following the completion of the sale, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Christopher J. Kuehn sold 876 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total value of $313,099.92. Following the transaction, the chief financial officer now directly owns 63,841 shares in the company, 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 sold a total of 7,234 shares of company stock valued at $2,588,102 in the last three months. Company insiders own 0.38% of the company's stock.
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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