Wells Fargo & Company MN Has $217.93 Million Position in Trane Technologies plc (NYSE:TT)

Wells Fargo & Company MN trimmed its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 2.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 590,034 shares of the company's stock after selling 16,855 shares during the period. Wells Fargo & Company MN owned about 0.26% of Trane Technologies worth $217,929,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of TT. Tidal Investments LLC raised its position in shares of Trane Technologies by 22.2% during the 3rd quarter. Tidal Investments LLC now owns 15,827 shares of the company's stock worth $6,152,000 after purchasing an additional 2,874 shares during the last quarter. Synovus Financial Corp grew its stake in Trane Technologies by 16.8% in the 3rd quarter. Synovus Financial Corp now owns 8,828 shares of the company's stock worth $3,431,000 after acquiring an additional 1,271 shares during the period. Ameritas Advisory Services LLC acquired a new position in Trane Technologies in the 4th quarter valued at $468,000. HB Wealth Management LLC increased its stake in Trane Technologies by 14.3% in the fourth quarter. HB Wealth Management LLC now owns 5,689 shares of the company's stock valued at $2,101,000 after purchasing an additional 711 shares during the last quarter. Finally, Crossmark Global Holdings Inc. lifted its position in Trane Technologies by 31.2% during the fourth quarter. Crossmark Global Holdings Inc. now owns 29,057 shares of the company's stock worth $10,733,000 after buying an additional 6,910 shares during the period. Hedge funds and other institutional investors own 82.97% of the company's stock.

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Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, CFO Christopher J. Kuehn sold 770 shares of the business's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $358.39, for a total value of $275,960.30. Following the sale, the chief financial officer now directly owns 62,221 shares in the company, valued at approximately $22,299,384.19. The trade was a 1.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David S. Regnery sold 2,754 shares of the firm's stock in a transaction that occurred 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 of the company's stock, valued at $47,515,142.46. The trade was a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,234 shares of company stock valued at $2,588,102. Company insiders own 0.38% of the company's stock.

Trane Technologies Stock Performance

TT stock traded up $7.84 during mid-day trading on Friday, reaching $346.17. The company had a trading volume of 1,531,556 shares, compared to its average volume of 1,287,070. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. Trane Technologies plc has a one year low of $286.32 and a one year high of $422.00. The stock's 50-day simple moving average is $347.12 and its two-hundred day simple moving average is $376.46. The stock has a market capitalization of $77.64 billion, a P/E ratio of 30.77, a P/E/G ratio of 2.50 and a beta of 1.08.

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

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be given a $0.94 dividend. 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 1.09%. Trane Technologies's dividend payout ratio is presently 33.42%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of Trane Technologies from $396.00 to $323.00 and set a "neutral" rating on the stock in a report on Tuesday. Citigroup dropped their target price on Trane Technologies from $478.00 to $476.00 and set a "buy" rating on the stock in a report on Monday, January 13th. Melius downgraded shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 target price for the company. in a research note on Tuesday, January 28th. Barclays lowered their price objective on Trane Technologies from $500.00 to $475.00 and set an "overweight" rating for the company in a research note on Monday, March 10th. Finally, Melius Research reissued a "hold" rating and issued a $398.00 target price on shares of Trane Technologies in a research report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $409.13.

About Trane Technologies

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.