Shorepoint Capital Partners LLC cut its stake in Trane Technologies plc (NYSE:TT - Free Report) by 8.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,847 shares of the company's stock after selling 1,289 shares during the quarter. Trane Technologies makes up approximately 1.2% of Shorepoint Capital Partners LLC's investment portfolio, making the stock its 29th largest holding. Shorepoint Capital Partners LLC's holdings in Trane Technologies were worth $5,114,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Trane Technologies in the 4th quarter valued at approximately $1,117,816,000. Raymond James Financial Inc. acquired a new position in shares of Trane Technologies in the fourth quarter worth approximately $611,322,000. Bank Julius Baer & Co. Ltd Zurich increased its position in shares of Trane Technologies by 455.2% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 427,226 shares of the company's stock worth $167,977,000 after buying an additional 350,277 shares during the period. Nordea Investment Management AB raised its position in shares of Trane Technologies by 42.9% in the 4th quarter. Nordea Investment Management AB now owns 978,275 shares of the company's stock worth $361,874,000 after acquiring an additional 293,916 shares in the last quarter. Finally, Caisse Des Depots ET Consignations bought a new position in shares of Trane Technologies during the 4th quarter worth approximately $98,560,000. 82.97% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In other news, SVP Mairead Magner sold 198 shares of the firm'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 transaction 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 $4,792,331.61. This trade represents a 1.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO David S. Regnery sold 2,754 shares of the business's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total transaction of $984,114.36. Following the completion of the transaction, the chief executive officer now directly owns 132,969 shares of the company's stock, 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. Insiders have sold a total of 7,234 shares of company stock worth $2,588,102 in the last quarter. Company insiders own 0.38% of the company's stock.
Trane Technologies Stock Up 1.5 %
Shares of NYSE:TT opened at $348.23 on Friday. The firm's 50-day moving average is $342.38 and its two-hundred day moving average is $372.81. 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 plc has a 1 year low of $298.15 and a 1 year high of $422.00. The firm has a market capitalization of $78.10 billion, a PE ratio of 30.95, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08.
Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, beating 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%. Analysts predict that Trane Technologies plc will post 12.83 EPS for the current year.
Trane Technologies Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders 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 dividend yield of 1.08%. Trane Technologies's payout ratio is 33.42%.
Analysts Set New Price Targets
TT has been the subject of a number of analyst reports. Citigroup reduced their price objective on shares of Trane Technologies from $476.00 to $415.00 and set a "buy" rating for the company in a report on Monday, April 14th. Melius lowered 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 report on Tuesday, January 28th. Hsbc Global Res raised Trane Technologies from a "hold" rating to a "strong-buy" rating in a report on Friday. UBS Group cut their price target on Trane Technologies from $500.00 to $470.00 and set a "buy" rating for the company in a report on Friday, January 31st. Finally, HSBC raised shares of Trane Technologies from a "hold" rating to a "buy" rating and upped their target price for the stock from $405.00 to $415.00 in a report on Friday. One research analyst has rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Trane Technologies presently has a consensus rating of "Hold" and a consensus price target of $405.94.
Read Our Latest Report on Trane Technologies
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.
Further Reading
Want to see what other hedge funds are holding TT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Trane Technologies plc (NYSE:TT - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
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 the basics of options trading and how to use them to boost returns and manage risk with this free report from MarketBeat. Click the link below to get your free copy.
Get This Free Report
