Vinva Investment Management Ltd decreased its position in Trane Technologies plc (NYSE:TT - Free Report) by 34.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,368 shares of the company's stock after selling 5,888 shares during the period. Vinva Investment Management Ltd's holdings in Trane Technologies were worth $4,216,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in Trane Technologies in the 4th quarter valued at approximately $611,322,000. Massachusetts Financial Services Co. MA boosted its stake in Trane Technologies by 35.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company's stock valued at $991,460,000 after buying an additional 671,691 shares during the period. FMR LLC boosted its stake in Trane Technologies by 4.0% during the third quarter. FMR LLC now owns 10,337,672 shares of the company's stock valued at $4,018,563,000 after buying an additional 397,537 shares during the period. Bank Julius Baer & Co. Ltd Zurich grew 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 worth $167,977,000 after buying an additional 350,277 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake in Trane Technologies by 42.9% in the 4th quarter. Nordea Investment Management AB now owns 978,275 shares of the company's stock worth $361,874,000 after acquiring an additional 293,916 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on TT shares. Barclays lowered their target price on shares of Trane Technologies from $500.00 to $475.00 and set an "overweight" rating on the stock in a research note on Monday, March 10th. Melius Research restated a "hold" rating and set a $398.00 price objective on shares of Trane Technologies in a research report on Tuesday, January 28th. Citigroup cut their target price on shares of Trane Technologies from $478.00 to $476.00 and set a "buy" rating for the company in a research report on Monday, January 13th. Royal Bank of Canada raised their price target on 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, Wells Fargo & Company dropped their price target on Trane Technologies from $380.00 to $360.00 and set an "underweight" rating for the company in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $413.69.
Read Our Latest Report on Trane Technologies
Insider Buying and Selling
In related news, CEO David S. Regnery sold 2,754 shares of the company's 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 sale, the chief executive officer now owns 132,969 shares in the company, valued at $47,515,142.46. This represents a 2.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Christopher J. Kuehn sold 876 shares of the firm'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 transaction, the chief financial officer now directly owns 63,841 shares of the company's stock, valued at approximately $22,818,050.22. This trade represents a 1.35 % decrease in their position. 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 three months. 0.38% of the stock is owned by corporate insiders.
Trane Technologies Stock Up 3.3 %
TT traded up $11.44 on Monday, hitting $358.58. The company had a trading volume of 1,587,788 shares, compared to its average volume of 1,167,791. Trane Technologies plc has a 52-week low of $286.32 and a 52-week high of $422.00. The stock has a fifty day simple moving average of $361.24 and a 200-day simple moving average of $379.99. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. The firm has a market capitalization of $80.43 billion, a P/E ratio of 31.87, a P/E/G ratio of 2.50 and a beta of 1.08.
Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, beating 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%. As a group, equities analysts expect that Trane Technologies plc will post 12.83 EPS for the current fiscal year.
Trane Technologies Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be given a $0.94 dividend. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from Trane Technologies's previous quarterly dividend of $0.84. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.05%. Trane Technologies's dividend payout ratio is currently 33.42%.
Trane Technologies Profile
(
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.
Further Reading
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