Russell Investments Group Ltd. lifted its stake in Trane Technologies plc (NYSE:TT - Free Report) by 9.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 364,989 shares of the company's stock after acquiring an additional 31,710 shares during the period. Russell Investments Group Ltd. owned 0.16% of Trane Technologies worth $134,828,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also made changes to their positions in TT. Edgestream Partners L.P. bought a new stake in Trane Technologies during the third quarter worth approximately $519,000. Hilltop Holdings Inc. raised its position in shares of Trane Technologies by 106.3% during the third quarter. Hilltop Holdings Inc. now owns 1,347 shares of the company's stock worth $524,000 after purchasing an additional 694 shares during the period. IHT Wealth Management LLC boosted its position in shares of Trane Technologies by 55.3% in the 3rd quarter. IHT Wealth Management LLC now owns 1,249 shares of the company's stock valued at $485,000 after purchasing an additional 445 shares during the period. Quantinno Capital Management LP increased its stake in Trane Technologies by 40.6% in the 3rd quarter. Quantinno Capital Management LP now owns 10,991 shares of the company's stock worth $4,273,000 after purchasing an additional 3,174 shares in the last quarter. Finally, State Street Corp lifted its stake in Trane Technologies by 0.8% during the third quarter. State Street Corp now owns 9,769,161 shares of the company's stock valued at $3,797,565,000 after buying an additional 77,830 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.
Trane Technologies Price Performance
Shares of Trane Technologies stock traded down $4.87 during midday trading on Thursday, hitting $337.93. 726,195 shares of the company were exchanged, compared to its average volume of 1,278,037. The firm has a market cap of $75.79 billion, a P/E ratio of 29.85, a PEG ratio of 2.50 and a beta of 1.08. The firm has a 50 day simple moving average of $347.74 and a 200-day simple moving average of $377.06. Trane Technologies plc has a 52 week low of $286.32 and a 52 week high of $422.00. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88.
Trane Technologies (NYSE:TT - Get Free Report) last announced its 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%. Research analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current year.
Trane Technologies Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a yield of 1.11%. Trane Technologies's dividend payout ratio (DPR) is presently 33.42%.
Insider Activity at Trane Technologies
In related news, SVP Evan M. Turtz sold 318 shares of the business's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $358.12, for a total value of $113,882.16. Following the completion of the transaction, the senior vice president now owns 20,513 shares in the company, valued at $7,346,115.56. The trade was a 1.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Mairead Magner sold 198 shares of the company's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total value of $70,806.78. Following the transaction, the senior vice president now directly owns 13,401 shares in the company, valued at approximately $4,792,331.61. This represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,234 shares of company stock valued at $2,588,102 in the last three months. Corporate insiders own 0.38% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on the stock. Barclays cut their price target 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. Wells Fargo & Company dropped 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. Royal Bank of Canada raised their price objective on Trane Technologies from $390.00 to $395.00 and gave the stock a "sector perform" rating in a research report on Friday, January 3rd. Melius cut shares of 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, UBS Group dropped their price target on shares of Trane Technologies from $500.00 to $470.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, Trane Technologies has a consensus rating of "Hold" and a consensus target price of $409.13.
Check Out Our Latest Research Report on TT
About Trane Technologies
(
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.
Featured Stories
Before you consider Trane Technologies, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Trane Technologies wasn't on the list.
While Trane Technologies currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Learn how options trading can help you navigate market volatility, manage risk, and maximize returns with MarketBeat's "Unlock the Potential in Options Trading." Click the link below to have this special report delivered to your inbox.
Get This Free Report
