Trane Technologies plc (NYSE:TT) Holdings Cut by Phoenix Financial Ltd.

Phoenix Financial Ltd. cut its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 25.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 21,041 shares of the company's stock after selling 7,181 shares during the quarter. Phoenix Financial Ltd.'s holdings in Trane Technologies were worth $7,771,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Global Wealth Strategies & Associates acquired a new stake in Trane Technologies in the 4th quarter valued at about $26,000. Sound Income Strategies LLC increased its stake in shares of Trane Technologies by 1,314.3% during the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company's stock worth $37,000 after purchasing an additional 92 shares in the last quarter. Flagship Wealth Advisors LLC acquired a new position in shares of Trane Technologies during the 4th quarter worth approximately $37,000. Golden State Wealth Management LLC purchased a new stake in Trane Technologies in the 4th quarter valued at approximately $39,000. Finally, BankPlus Trust Department acquired a new stake in Trane Technologies during the 4th quarter valued at $45,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Trane Technologies Stock Down 0.7 %

NYSE:TT traded down $2.36 during mid-day trading on Tuesday, hitting $345.13. The company had a trading volume of 350,046 shares, compared to its average volume of 1,284,516. The business has a fifty day simple moving average of $346.92 and a 200-day simple moving average of $376.13. The firm has a market capitalization of $77.41 billion, a price-to-earnings ratio of 30.68, a PEG ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a 1 year low of $286.32 and a 1 year 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.

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Trane Technologies (NYSE:TT - Get Free Report) last released 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%. Equities analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.09%. The ex-dividend date is Friday, June 6th. Trane Technologies's dividend payout ratio (DPR) is 33.42%.

Insider Activity at Trane Technologies

In related news, CFO Christopher J. Kuehn sold 770 shares of the business's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $358.39, for a total value of $275,960.30. Following the completion of the sale, the chief financial officer now directly owns 62,221 shares of the company's stock, valued at $22,299,384.19. The trade was a 1.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO David S. Regnery sold 2,754 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total value of $984,114.36. Following the transaction, the chief executive officer now directly owns 132,969 shares in the company, valued at approximately $47,515,142.46. This represents a 2.03 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,234 shares of company stock valued at $2,588,102. Insiders own 0.38% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Melius Research reaffirmed a "hold" rating and set a $398.00 price objective on shares of Trane Technologies in a research note on Tuesday, January 28th. Citigroup decreased their price target on shares of Trane Technologies from $476.00 to $415.00 and set a "buy" rating on the stock in a research note on Monday. UBS Group lowered their price target on shares of Trane Technologies from $500.00 to $470.00 and set a "buy" rating for the company in a report on Friday, January 31st. JPMorgan Chase & Co. reduced their price objective on shares of Trane Technologies from $396.00 to $323.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Finally, Royal Bank of Canada lifted their target price on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a "sector perform" rating in a research note on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Trane Technologies has an average rating of "Hold" and a consensus price target of $405.31.

Trane Technologies Profile

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.