Wellington Management Group LLP Reduces Holdings in Trane Technologies plc (NYSE:TT)

Wellington Management Group LLP decreased its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 14.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 621,472 shares of the company's stock after selling 106,956 shares during the period. Wellington Management Group LLP owned about 0.28% of Trane Technologies worth $229,541,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Global Wealth Strategies & Associates acquired a new stake in Trane Technologies during the 4th quarter worth $26,000. Sound Income Strategies LLC lifted its stake in shares of Trane Technologies by 1,314.3% in the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company's stock worth $37,000 after buying an additional 92 shares in the last quarter. Flagship Wealth Advisors LLC purchased a new position in shares of Trane Technologies in the fourth quarter worth about $37,000. Golden State Wealth Management LLC purchased a new stake in Trane Technologies during the 4th quarter valued at about $39,000. Finally, Legacy Investment Solutions LLC purchased a new stake in Trane Technologies during the 3rd quarter valued at about $44,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Trane Technologies Stock Down 0.7 %

Shares of TT traded down $2.34 during mid-day trading on Monday, hitting $315.77. 1,917,705 shares of the company's stock were exchanged, compared to its average volume of 1,271,732. The stock's 50-day moving average is $350.60 and its 200-day moving average is $378.54. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. Trane Technologies plc has a fifty-two week low of $286.32 and a fifty-two week high of $422.00. The company has a market cap of $70.82 billion, a price-to-earnings ratio of 28.07, a P/E/G ratio of 2.50 and a beta of 1.08.

Remove Ads

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, beating 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 anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date is Friday, June 6th. Trane Technologies's dividend payout ratio is currently 33.42%.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, CFO Christopher J. Kuehn sold 770 shares of Trane Technologies stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $358.39, for a total transaction 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Mairead Magner sold 198 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total value of $70,806.78. Following the completion of the transaction, the senior vice president now owns 13,401 shares in the company, valued at approximately $4,792,331.61. The trade was a 1.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,234 shares of company stock valued at $2,588,102 in the last quarter. Corporate insiders own 0.38% of the company's stock.

Analyst Ratings Changes

TT has been the topic of several recent research reports. Wells Fargo & Company lowered their target price on Trane Technologies from $380.00 to $360.00 and set an "underweight" rating on the stock in a report on Friday, January 31st. Citigroup lowered their price objective on Trane Technologies from $478.00 to $476.00 and set a "buy" rating on the stock in a research note on Monday, January 13th. Royal Bank of Canada raised their target price on Trane Technologies from $390.00 to $395.00 and gave the stock a "sector perform" rating in a research note on Friday, January 3rd. Melius Research reissued a "hold" rating and set a $398.00 price target on shares of Trane Technologies in a research report on Tuesday, January 28th. Finally, 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 research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $413.69.

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.