OVERSEA CHINESE BANKING Corp Ltd Sells 10,000 Shares of Trane Technologies plc (NYSE:TT)

OVERSEA CHINESE BANKING Corp Ltd decreased its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 66.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,000 shares of the company's stock after selling 10,000 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in Trane Technologies were worth $1,847,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Cobblestone Capital Advisors LLC NY raised its stake in Trane Technologies by 1.8% during the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 1,490 shares of the company's stock valued at $579,000 after buying an additional 27 shares during the last quarter. Wescott Financial Advisory Group LLC grew its holdings in shares of Trane Technologies by 1.7% in the third quarter. Wescott Financial Advisory Group LLC now owns 1,723 shares of the company's stock worth $670,000 after acquiring an additional 28 shares during the period. Secured Retirement Advisors LLC increased its position in Trane Technologies by 0.6% during the fourth quarter. Secured Retirement Advisors LLC now owns 4,628 shares of the company's stock valued at $1,709,000 after acquiring an additional 28 shares during the last quarter. First Citizens Financial Corp lifted its holdings in Trane Technologies by 4.6% in the fourth quarter. First Citizens Financial Corp now owns 656 shares of the company's stock valued at $242,000 after acquiring an additional 29 shares during the period. Finally, Catalina Capital Group LLC boosted its position in Trane Technologies by 3.2% in the fourth quarter. Catalina Capital Group LLC now owns 924 shares of the company's stock worth $341,000 after purchasing an additional 29 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

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Trane Technologies Price Performance

Shares of Trane Technologies stock traded up $11.44 during trading on Monday, reaching $358.58. 1,587,788 shares of the stock traded hands, compared to its average volume of 1,167,791. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. The company 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. Trane Technologies plc has a 52-week low of $286.32 and a 52-week high of $422.00. The business has a fifty day simple moving average of $361.24 and a two-hundred day simple moving average of $379.99.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings data 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 return on equity of 35.37% and a net margin of 12.94%. Sell-side analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be paid a $0.94 dividend. This is a boost from Trane Technologies's previous quarterly dividend of $0.84. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date is Friday, March 7th. Trane Technologies's dividend payout ratio (DPR) is presently 33.42%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TT. Royal Bank of Canada increased 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 dropped their price target on shares of Trane Technologies from $478.00 to $476.00 and set a "buy" rating on the stock in a research note on Monday, January 13th. 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 research note on Friday, January 31st. Wells Fargo & Company lowered 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. Finally, UBS Group reduced their price target on Trane Technologies from $500.00 to $470.00 and set a "buy" rating for the company in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $413.69.

Insider Activity

In other news, SVP Mairead Magner sold 198 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total transaction of $70,806.78. Following the transaction, the senior vice president now owns 13,401 shares of the company's stock, valued at approximately $4,792,331.61. The trade was a 1.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Christopher J. Kuehn sold 876 shares of Trane Technologies stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total transaction of $313,099.92. Following the transaction, the chief financial officer now directly owns 63,841 shares of the company's stock, valued at $22,818,050.22. The trade was a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,234 shares of company stock worth $2,588,102. 0.38% of the stock is currently owned by corporate insiders.

Trane Technologies Company 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.