Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 2.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,847 shares of the company's stock after selling 1,279 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS's holdings in Trane Technologies were worth $17,672,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the stock. Tidal Investments LLC increased its stake in shares of Trane Technologies by 22.2% during the third quarter. Tidal Investments LLC now owns 15,827 shares of the company's stock worth $6,152,000 after buying an additional 2,874 shares during the period. Synovus Financial Corp raised its holdings in shares of Trane Technologies by 16.8% in the 3rd quarter. Synovus Financial Corp now owns 8,828 shares of the company's stock valued at $3,431,000 after purchasing an additional 1,271 shares in the last quarter. Ameritas Advisory Services LLC purchased a new stake in shares of Trane Technologies during the 4th quarter worth $468,000. HB Wealth Management LLC grew its stake in shares of Trane Technologies by 14.3% during the fourth quarter. HB Wealth Management LLC now owns 5,689 shares of the company's stock worth $2,101,000 after purchasing an additional 711 shares in the last quarter. Finally, Crossmark Global Holdings Inc. increased its holdings in Trane Technologies by 31.2% in the fourth quarter. Crossmark Global Holdings Inc. now owns 29,057 shares of the company's stock valued at $10,733,000 after buying an additional 6,910 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.
Analysts Set New Price Targets
TT has been the subject of a number of recent analyst reports. Wells Fargo & Company decreased their price target on Trane Technologies from $380.00 to $360.00 and set an "underweight" rating for the company in a report on Friday, January 31st. 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. JPMorgan Chase & Co. raised their price objective on shares of Trane Technologies from $387.00 to $396.00 and gave the stock a "neutral" rating in a 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 reiterated a "hold" rating and set a $398.00 price target 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 issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $413.69.
View Our Latest Stock Analysis on TT
Trane Technologies Stock Performance
Shares of NYSE TT traded up $6.30 during mid-day trading on Tuesday, hitting $363.90. 1,492,951 shares of the company were exchanged, compared to its average volume of 1,167,099. The stock has a 50 day simple moving average of $360.87 and a 200-day simple moving average of $380.10. Trane Technologies plc has a 1-year low of $286.32 and a 1-year high of $422.00. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The firm has a market cap of $81.62 billion, a price-to-earnings ratio of 32.35, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08.
Trane Technologies (NYSE:TT - Get Free Report) last released its 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 net margin of 12.94% and a return on equity of 35.37%. On average, sell-side analysts forecast that Trane Technologies plc will post 12.83 EPS for the current fiscal year.
Trane Technologies Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a dividend of $0.94 per share. This is a boost from Trane Technologies's previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.76 annualized dividend and a yield of 1.03%. Trane Technologies's payout ratio is presently 33.42%.
Insider Transactions at Trane Technologies
In other Trane Technologies news, SVP Mairead Magner sold 198 shares of the company's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total transaction 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO David S. Regnery sold 2,754 shares of the 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 approximately $47,515,142.46. This trade represents a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 7,234 shares of company stock valued at $2,588,102. Corporate insiders own 0.38% of the company's stock.
About Trane Technologies
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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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