Sei Investments Co. cut its position in Trane Technologies plc (NYSE:TT - Free Report) by 9.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 300,801 shares of the company's stock after selling 30,937 shares during the period. Sei Investments Co. owned 0.13% of Trane Technologies worth $111,104,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. Swedbank AB boosted its holdings in shares of Trane Technologies by 2.8% in the 3rd quarter. Swedbank AB now owns 743,794 shares of the company's stock valued at $289,135,000 after buying an additional 20,400 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in Trane Technologies by 23.7% in the third quarter. Advisors Asset Management Inc. now owns 3,728 shares of the company's stock valued at $1,449,000 after acquiring an additional 714 shares in the last quarter. Citizens Financial Group Inc. RI grew its holdings in shares of Trane Technologies by 41.9% during the third quarter. Citizens Financial Group Inc. RI now owns 2,405 shares of the company's stock worth $935,000 after purchasing an additional 710 shares during the last quarter. Icon Wealth Advisors LLC increased its position in shares of Trane Technologies by 172.8% during the third quarter. Icon Wealth Advisors LLC now owns 5,132 shares of the company's stock worth $1,995,000 after purchasing an additional 3,251 shares in the last quarter. Finally, Stonebrook Private Inc. lifted its holdings in shares of Trane Technologies by 0.9% in the 3rd quarter. Stonebrook Private Inc. now owns 5,348 shares of the company's stock valued at $2,079,000 after purchasing an additional 49 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Trane Technologies news, 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 sale, the chief executive officer now owns 132,969 shares in the company, valued at approximately $47,515,142.46. This represents a 2.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Mairead Magner sold 198 shares of the business'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 completion of the transaction, the senior vice president now directly owns 13,401 shares of the company's stock, valued at approximately $4,792,331.61. This trade represents a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,234 shares of company stock worth $2,588,102 in the last three months. Corporate insiders own 0.38% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts have commented on TT shares. UBS Group cut their price target on Trane Technologies from $500.00 to $470.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. JPMorgan Chase & Co. upped their price target on shares of Trane Technologies from $387.00 to $396.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Wells Fargo & Company lowered their price objective on shares of 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 shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 target price for the company. in a report on Tuesday, January 28th. Finally, Melius Research reissued a "hold" rating and set a $398.00 price target on shares of Trane Technologies in a report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $413.69.
Read Our Latest Research Report on TT
Trane Technologies Price Performance
TT stock traded down $5.48 during trading on Thursday, reaching $346.58. 1,692,622 shares of the company were exchanged, compared to its average volume of 1,181,426. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. The stock's 50 day moving average price is $359.83 and its 200 day moving average price is $380.06. Trane Technologies plc has a 52-week low of $286.32 and a 52-week high of $422.00. The company has a market cap of $77.74 billion, a P/E ratio of 30.81, a PEG ratio of 2.50 and a beta of 1.08.
Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The company reported $2.61 EPS for the quarter, topping 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%. As a group, analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.
Trane Technologies Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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 dividend yield of 1.08%. 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 33.42%.
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.
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