Trane Technologies plc (NYSE:TT) Shares Sold by Bank of Montreal Can

Bank of Montreal Can lessened its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 8.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 359,068 shares of the company's stock after selling 34,424 shares during the period. Bank of Montreal Can owned approximately 0.16% of Trane Technologies worth $132,622,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Norges Bank bought a new position in shares of Trane Technologies during the 4th quarter valued at approximately $1,117,816,000. Raymond James Financial Inc. purchased a new position in Trane Technologies during the fourth quarter worth $611,322,000. Bank Julius Baer & Co. Ltd Zurich increased its position in Trane Technologies by 455.2% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 427,226 shares of the company's stock valued at $167,977,000 after acquiring an additional 350,277 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of Trane Technologies by 42.9% in the fourth quarter. Nordea Investment Management AB now owns 978,275 shares of the company's stock valued at $361,874,000 after acquiring an additional 293,916 shares during the period. Finally, Caisse Des Depots ET Consignations bought a new stake in shares of Trane Technologies in the 4th quarter worth about $98,560,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Trane Technologies Stock Up 2.3 %

NYSE:TT traded up $7.84 during trading hours on Friday, reaching $346.17. The company's stock had a trading volume of 1,531,556 shares, compared to its average volume of 1,288,233. The stock has a 50 day moving average price of $347.12 and a two-hundred day moving average price of $376.38. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. The company has a market capitalization of $77.64 billion, a P/E ratio of 30.77, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a 12 month low of $286.32 and a 12 month high of $422.00.

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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 predict that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders 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 dividend yield of 1.09%. The ex-dividend date of this dividend is Friday, June 6th. Trane Technologies's payout ratio is currently 33.42%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TT. Barclays cut their price target on shares of Trane Technologies from $500.00 to $475.00 and set an "overweight" rating on the stock in a report on Monday, March 10th. Melius downgraded Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 price target on the stock. in a report on Tuesday, January 28th. Melius Research restated a "hold" rating and set a $398.00 price objective on shares of Trane Technologies in a report on Tuesday, January 28th. Wells Fargo & Company decreased their target price on Trane Technologies from $380.00 to $360.00 and set an "underweight" rating for the company in a research report on Friday, January 31st. Finally, Royal Bank of Canada boosted their target price on shares of Trane Technologies from $390.00 to $395.00 and gave the company a "sector perform" rating in a research note on Friday, January 3rd. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $409.13.

Insider Buying and Selling

In other news, CEO David S. Regnery sold 2,754 shares of the business's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total transaction of $984,114.36. Following the sale, the chief executive officer now directly owns 132,969 shares of the company's stock, valued at $47,515,142.46. The trade was a 2.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Mairead Magner sold 198 shares of the company's stock in a transaction on 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 directly owns 13,401 shares in the company, valued at approximately $4,792,331.61. The trade was a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,234 shares of company stock worth $2,588,102 in the last 90 days. 0.38% of the stock is owned by corporate insiders.

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.