Peapack Gladstone Financial Corp trimmed its position in Trane Technologies plc (NYSE:TT - Free Report) by 1.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 97,820 shares of the company's stock after selling 1,914 shares during the quarter. Peapack Gladstone Financial Corp's holdings in Trane Technologies were worth $36,130,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the company. Quadrant Capital Group LLC grew its stake in shares of Trane Technologies by 0.8% during the fourth quarter. Quadrant Capital Group LLC now owns 3,786 shares of the company's stock worth $1,398,000 after buying an additional 30 shares during the last quarter. Ilmarinen Mutual Pension Insurance Co bought a new stake in shares of Trane Technologies in the fourth quarter worth $9,788,000. Russell Investments Group Ltd. grew its stake in shares of Trane Technologies by 9.5% in the fourth quarter. Russell Investments Group Ltd. now owns 364,989 shares of the company's stock worth $134,828,000 after purchasing an additional 31,710 shares during the last quarter. Wedbush Securities Inc. raised its position in Trane Technologies by 0.7% during the 4th quarter. Wedbush Securities Inc. now owns 6,539 shares of the company's stock worth $2,415,000 after purchasing an additional 43 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in shares of Trane Technologies by 8.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 298,261 shares of the company's stock valued at $110,163,000 after buying an additional 24,157 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Trane Technologies
In other news, SVP Evan M. Turtz sold 318 shares of the firm'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 transaction of $113,882.16. Following the completion of the sale, the senior vice president now owns 20,513 shares in the company, valued at $7,346,115.56. This trade represents a 1.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Christopher J. Kuehn sold 876 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.42, for a total value of $313,099.92. Following the completion of the transaction, the chief financial officer now owns 63,841 shares in the company, valued at approximately $22,818,050.22. The trade was a 1.35 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,234 shares of company stock valued at $2,588,102. 0.38% of the stock is owned by insiders.
Trane Technologies Stock Up 1.5 %
Shares of NYSE:TT traded up $4.96 during mid-day trading on Friday, hitting $343.29. 440,606 shares of the company traded hands, compared to its average volume of 1,281,263. The stock has a market cap of $77.00 billion, a P/E ratio of 30.62, a P/E/G ratio of 2.50 and a beta of 1.08. The stock has a 50-day moving average price of $347.31 and a two-hundred day moving average price of $376.74. Trane Technologies plc has a 12-month low of $286.32 and a 12-month high of $422.00. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58.
Trane Technologies (NYSE:TT - Get Free Report) last posted its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (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, equities research analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current year.
Trane Technologies Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend is Friday, June 6th. Trane Technologies's dividend payout ratio is presently 33.42%.
Analyst Ratings Changes
Several research analysts have issued reports on TT shares. Melius Research restated a "hold" rating and set a $398.00 price target on shares of Trane Technologies in a report on Tuesday, January 28th. Citigroup dropped their target price on shares of 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 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. JPMorgan Chase & Co. dropped their price objective on Trane Technologies from $396.00 to $323.00 and set a "neutral" rating on the stock in a research note on Tuesday. Finally, Barclays decreased their target price 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. One 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's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $409.13.
Get Our Latest Stock Analysis 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.
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