Rhumbline Advisers Cuts Position in Trane Technologies plc (NYSE:TT)

Rhumbline Advisers decreased its stake in Trane Technologies plc (NYSE:TT - Free Report) by 4.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 436,552 shares of the company's stock after selling 18,139 shares during the period. Rhumbline Advisers owned about 0.19% of Trane Technologies worth $161,240,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Trust Point Inc. lifted its holdings in shares of Trane Technologies by 3.1% during the third quarter. Trust Point Inc. now owns 897 shares of the company's stock valued at $349,000 after purchasing an additional 27 shares during the last quarter. Cobblestone Capital Advisors LLC NY increased its position in Trane Technologies by 1.8% during the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 1,490 shares of the company's stock valued at $579,000 after buying an additional 27 shares in the last quarter. Wescott Financial Advisory Group LLC raised its stake in Trane Technologies by 1.7% during the third quarter. Wescott Financial Advisory Group LLC now owns 1,723 shares of the company's stock valued at $670,000 after buying an additional 28 shares during the last quarter. Greenleaf Trust boosted its holdings in Trane Technologies by 0.5% in the third quarter. Greenleaf Trust now owns 5,852 shares of the company's stock worth $2,275,000 after acquiring an additional 29 shares in the last quarter. Finally, First Citizens Financial Corp boosted its holdings in Trane Technologies by 4.6% in the fourth quarter. First Citizens Financial Corp now owns 656 shares of the company's stock worth $242,000 after acquiring an additional 29 shares in the last quarter. Institutional investors own 82.97% of the company's stock.

Trane Technologies Stock Performance

TT stock traded up $7.13 during trading on Wednesday, reaching $370.04. The stock had a trading volume of 1,476,935 shares, compared to its average volume of 1,506,417. Trane Technologies plc has a 52 week low of $270.50 and a 52 week high of $422.00. The stock's 50 day moving average is $376.38 and its two-hundred day moving average is $379.24. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The firm has a market cap of $83.00 billion, a PE ratio of 32.89, a PEG ratio of 2.48 and a beta of 1.05.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The company reported $2.61 EPS for the quarter, topping 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%. As a group, equities analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a $0.94 dividend. 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 dividend on an annualized basis and a yield of 1.02%. Trane Technologies's dividend payout ratio is presently 29.87%.

Insiders Place Their Bets

In related news, CFO Christopher J. Kuehn sold 876 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total transaction of $313,099.92. Following the completion of the sale, the chief financial officer now owns 63,841 shares in the company, valued at approximately $22,818,050.22. This trade represents a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Mairead Magner sold 4,329 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total value of $1,800,864.00. Following the sale, the senior vice president now owns 12,893 shares of the company's stock, valued at $5,363,488. This represents a 25.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,563 shares of company stock worth $4,388,966 over the last quarter. 0.38% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

TT has been the subject of several recent analyst reports. HSBC lowered Trane Technologies from a "buy" rating to a "hold" rating and set a $405.00 price target for the company. in a research report on Thursday, October 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. Melius Research reiterated a "hold" rating and issued a $398.00 target price on shares of Trane Technologies in a research note on Tuesday, January 28th. Royal Bank of Canada raised their price target on shares of Trane Technologies from $390.00 to $395.00 and gave the company a "sector perform" rating in a research report on Friday, January 3rd. Finally, Hsbc Global Res downgraded Trane Technologies from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $415.25.

Trane Technologies Company 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.