Prudential PLC Has $17.80 Million Stock Position in Trane Technologies plc (NYSE:TT)

Prudential PLC trimmed its position in Trane Technologies plc (NYSE:TT - Free Report) by 16.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,204 shares of the company's stock after selling 9,396 shares during the quarter. Prudential PLC's holdings in Trane Technologies were worth $17,804,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. PAX Financial Group LLC lifted its holdings in shares of Trane Technologies by 17.4% during the 4th quarter. PAX Financial Group LLC now owns 858 shares of the company's stock worth $317,000 after acquiring an additional 127 shares during the period. Bornite Capital Management LP lifted its stake in Trane Technologies by 14.9% during the fourth quarter. Bornite Capital Management LP now owns 40,200 shares of the company's stock worth $14,848,000 after purchasing an additional 5,200 shares during the period. Pitcairn Co. boosted its holdings in Trane Technologies by 4.4% during the fourth quarter. Pitcairn Co. now owns 8,973 shares of the company's stock valued at $3,314,000 after purchasing an additional 380 shares in the last quarter. World Investment Advisors grew its stake in shares of Trane Technologies by 11.9% in the 4th quarter. World Investment Advisors now owns 38,691 shares of the company's stock valued at $14,291,000 after purchasing an additional 4,110 shares during the period. Finally, OneAscent Financial Services LLC raised its holdings in shares of Trane Technologies by 13.5% in the 4th quarter. OneAscent Financial Services LLC now owns 2,567 shares of the company's stock worth $948,000 after buying an additional 305 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

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Trane Technologies Trading Up 0.4 %

TT traded up $1.15 during midday trading on Wednesday, reaching $316.36. 492,037 shares of the company were exchanged, compared to its average volume of 1,272,769. The stock has a market capitalization of $70.96 billion, a P/E ratio of 28.12, a PEG ratio of 2.50 and a beta of 1.08. The stock's 50-day simple moving average is $348.59 and its 200 day simple moving average is $377.60. 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 plc has a one year low of $286.32 and a one year high of $422.00.

Trane Technologies (NYSE:TT - Get Free Report) last posted its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (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%. As a group, analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date is Friday, June 6th. Trane Technologies's payout ratio is currently 33.42%.

Insider Activity

In related news, CFO Christopher J. Kuehn sold 770 shares of Trane Technologies stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $358.39, for a total value of $275,960.30. Following the sale, the chief financial officer now owns 62,221 shares of the company's stock, valued at approximately $22,299,384.19. This trade represents a 1.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Mairead Magner sold 198 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total value of $70,806.78. Following the completion of the sale, the senior vice president now owns 13,401 shares in the company, valued at $4,792,331.61. The trade was a 1.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,234 shares of company stock worth $2,588,102 over the last quarter. 0.38% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

TT has been the topic of a number of analyst reports. Wells Fargo & Company lowered their price target 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. Barclays lowered their target price on shares of Trane Technologies from $500.00 to $475.00 and set an "overweight" rating on the stock in a report on Monday, March 10th. Citigroup cut their price target on shares of Trane Technologies from $478.00 to $476.00 and set a "buy" rating for the company in a report on Monday, January 13th. Melius cut shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 price objective on the stock. in a research note on Tuesday, January 28th. Finally, Melius Research reiterated a "hold" rating and issued a $398.00 target price on shares of Trane Technologies in a research note on Tuesday, January 28th. 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. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $409.13.

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.