Westpac Banking Corp Sells 12,778 Shares of Trane Technologies plc (NYSE:TT)

Westpac Banking Corp cut its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 62.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,540 shares of the company's stock after selling 12,778 shares during the quarter. Westpac Banking Corp's holdings in Trane Technologies were worth $2,785,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of TT. Global Wealth Strategies & Associates bought a new stake in Trane Technologies in the fourth quarter worth $26,000. Sound Income Strategies LLC lifted its stake in shares of Trane Technologies by 1,314.3% in the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company's stock valued at $37,000 after acquiring an additional 92 shares during the last quarter. Flagship Wealth Advisors LLC bought a new position in Trane Technologies during the 4th quarter worth approximately $37,000. Golden State Wealth Management LLC purchased a new position in Trane Technologies in the 4th quarter worth approximately $39,000. Finally, Legacy Investment Solutions LLC bought a new stake in Trane Technologies in the third quarter valued at approximately $44,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Stock Up 8.9 %

Shares of Trane Technologies stock traded up $27.93 during trading on Wednesday, hitting $343.14. The company's stock had a trading volume of 1,979,823 shares, compared to its average volume of 1,280,043. Trane Technologies plc has a 52 week low of $286.32 and a 52 week high of $422.00. 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 fifty day simple moving average of $347.74 and a two-hundred day simple moving average of $377.06. The company has a market capitalization of $76.96 billion, a PE ratio of 30.50, a P/E/G ratio of 2.50 and a beta of 1.08.

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Trane Technologies (NYSE:TT - Get Free Report) last announced its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, beating analysts' consensus estimates of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. Equities research analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.10%. The ex-dividend date is Friday, June 6th. Trane Technologies's dividend payout ratio (DPR) is 33.42%.

Insider Transactions at Trane Technologies

In related news, CEO David S. Regnery sold 2,318 shares of the company's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $358.17, for a total value of $830,238.06. Following the transaction, the chief executive officer now directly owns 126,831 shares of the company's stock, valued at approximately $45,427,059.27. This represents a 1.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Evan M. Turtz sold 318 shares of Trane Technologies stock in a transaction on Monday, February 10th. The stock was 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 approximately $7,346,115.56. The trade was a 1.53 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,234 shares of company stock valued at $2,588,102. Insiders own 0.38% of the company's stock.

Analysts Set New Price Targets

TT has been the topic of several analyst reports. JPMorgan Chase & Co. decreased their target price on shares of Trane Technologies from $396.00 to $323.00 and set a "neutral" rating on the stock in a research note on Tuesday. Melius Research reaffirmed a "hold" rating and set a $398.00 price objective on shares of Trane Technologies in a research note on Tuesday, January 28th. Melius cut Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 target price on the stock. in a research note on Tuesday, January 28th. Wells Fargo & Company lowered their price target 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, Barclays cut their price objective on Trane Technologies from $500.00 to $475.00 and set an "overweight" rating on the stock in a research report on Monday, March 10th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $409.13.

About Trane Technologies

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.