Trane Technologies plc (NYSE:TT) Shares Sold by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. lowered its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 11.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 60,159 shares of the company's stock after selling 7,429 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in Trane Technologies were worth $22,220,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Global Wealth Strategies & Associates purchased a new position in Trane Technologies in the 4th quarter worth about $26,000. Sound Income Strategies LLC grew its stake in Trane Technologies by 1,314.3% in the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company's stock worth $37,000 after acquiring an additional 92 shares in the last quarter. Flagship Wealth Advisors LLC purchased a new position in shares of Trane Technologies during the fourth quarter worth approximately $37,000. Golden State Wealth Management LLC bought a new stake in shares of Trane Technologies during the fourth quarter valued at approximately $39,000. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of Trane Technologies in the third quarter valued at approximately $44,000. Institutional investors own 82.97% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on TT. Wells Fargo & Company reduced their price objective on Trane Technologies from $380.00 to $360.00 and set an "underweight" rating on the stock in a report on Friday, January 31st. Royal Bank of Canada upped 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. Citigroup cut 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. UBS Group lowered their price target 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. Finally, Melius Research reissued a "hold" rating and set a $398.00 price objective on shares of Trane Technologies in a report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Trane Technologies presently has a consensus rating of "Hold" and an average price target of $413.69.

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Trane Technologies Stock Up 3.3 %

Shares of TT traded up $11.44 during mid-day trading on Monday, hitting $358.58. 1,587,788 shares of the company traded hands, compared to its average volume of 1,167,792. The business has a 50 day moving average of $360.87 and a 200 day moving average of $380.10. The company has a market capitalization of $80.43 billion, a PE ratio of 31.87, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. 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 plc has a 1-year low of $286.32 and a 1-year high of $422.00.

Trane Technologies (NYSE:TT - Get Free Report) last posted 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%. 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 declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.05%. The ex-dividend date is Friday, March 7th. This is an increase from Trane Technologies's previous quarterly dividend of $0.84. Trane Technologies's payout ratio is presently 33.42%.

Insider Activity

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 sale, the chief financial officer now directly owns 63,841 shares of the company's stock, valued at $22,818,050.22. This represents a 1.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David S. Regnery sold 2,754 shares of the 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 owns 132,969 shares in the company, valued at $47,515,142.46. The trade was a 2.03 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,234 shares of company stock valued at $2,588,102. Company insiders own 0.38% of the company's stock.

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.