Wealthfront Advisers LLC increased its position in Trane Technologies plc (NYSE:TT - Free Report) by 6.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,049 shares of the company's stock after purchasing an additional 1,661 shares during the quarter. Wealthfront Advisers LLC's holdings in Trane Technologies were worth $10,729,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the stock. FMR LLC grew its position in shares of Trane Technologies by 4.0% in the 3rd quarter. FMR LLC now owns 10,337,672 shares of the company's stock valued at $4,018,563,000 after purchasing an additional 397,537 shares during the period. State Street Corp grew its holdings in Trane Technologies by 0.8% in the 3rd quarter. State Street Corp now owns 9,769,161 shares of the company's stock valued at $3,797,565,000 after buying an additional 77,830 shares in the last quarter. Geode Capital Management LLC grew its holdings in Trane Technologies by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 4,638,914 shares of the company's stock valued at $1,797,700,000 after buying an additional 65,991 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Trane Technologies by 35.8% in the 3rd 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 in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Trane Technologies by 0.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,142,081 shares of the company's stock worth $832,691,000 after purchasing an additional 20,151 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.
Trane Technologies Trading Down 1.1 %
NYSE TT opened at $334.57 on Wednesday. The business has a 50 day simple moving average of $366.61 and a 200 day simple moving average of $380.39. Trane Technologies plc has a one year low of $281.46 and a one year high of $422.00. The stock has a market capitalization of $75.04 billion, a P/E ratio of 29.74, a P/E/G ratio of 2.50 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88.
Trane Technologies (NYSE:TT - Get Free Report) last released its 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%. Research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.
Trane Technologies Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be paid a dividend of $0.94 per share. The ex-dividend date is Friday, March 7th. This represents a $3.76 annualized dividend and a yield of 1.12%. This is a boost from Trane Technologies's previous quarterly dividend of $0.84. Trane Technologies's dividend payout ratio (DPR) is currently 33.42%.
Insider Buying and Selling
In other Trane Technologies news, CEO David S. Regnery sold 2,754 shares of the firm'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 completion of the sale, the chief executive officer now owns 132,969 shares of the company's stock, valued at approximately $47,515,142.46. This trade represents a 2.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Evan M. Turtz sold 318 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $358.12, for a total value of $113,882.16. Following the completion of the sale, the senior vice president now directly owns 20,513 shares of the company's stock, valued at $7,346,115.56. This trade represents a 1.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,234 shares of company stock valued at $2,588,102 over the last 90 days. Company insiders own 0.38% of the company's stock.
Wall Street Analyst Weigh In
TT has been the subject of several recent analyst reports. Melius downgraded Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 price objective for the company. in a research report on Tuesday, January 28th. Barclays dropped their target price on Trane Technologies from $500.00 to $475.00 and set an "overweight" rating for the company in a research report on Monday. Citigroup dropped their target price on 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 increased their target price 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, Northcoast Research assumed coverage on Trane Technologies in a research note on Friday, November 22nd. They issued a "buy" rating and a $500.00 price target for the company. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Trane Technologies presently has a consensus rating of "Hold" and an average price target of $413.69.
View Our Latest Analysis on Trane Technologies
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.
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