William Blair Investment Management LLC Sells 29,912 Shares of Trane Technologies plc (NYSE:TT)

William Blair Investment Management LLC decreased its position in Trane Technologies plc (NYSE:TT - Free Report) by 23.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 96,054 shares of the company's stock after selling 29,912 shares during the period. William Blair Investment Management LLC's holdings in Trane Technologies were worth $35,478,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TT. MidAtlantic Capital Management Inc. acquired a new position in shares of Trane Technologies in the 3rd quarter valued at about $27,000. Global Wealth Strategies & Associates acquired a new position in Trane Technologies in the 4th quarter valued at approximately $26,000. Sound Income Strategies LLC lifted its position in Trane Technologies by 1,314.3% in the 4th 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 acquired a new stake in shares of Trane Technologies during the 4th quarter valued at $37,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of Trane Technologies during the 4th quarter valued at $39,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Trane Technologies

In related news, SVP Mairead Magner sold 198 shares of Trane Technologies stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total transaction of $70,806.78. Following the sale, the senior vice president now directly owns 13,401 shares of the company's stock, valued at $4,792,331.61. This trade represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Christopher J. Kuehn sold 876 shares of the company'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 completion of 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. In the last 90 days, insiders have sold 7,234 shares of company stock worth $2,588,102. 0.38% of the stock is currently owned by company insiders.

Remove Ads

Trane Technologies Stock Performance

Shares of NYSE TT traded down $2.03 during trading hours on Friday, hitting $347.30. 1,712,053 shares of the company's stock were exchanged, compared to its average volume of 1,597,950. The stock has a market capitalization of $77.90 billion, a price-to-earnings ratio of 30.87, a PEG ratio of 2.50 and a beta of 1.08. The company's 50-day moving average price is $361.84 and its 200-day moving average price is $379.62. 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 plc has a 1-year low of $286.32 and a 1-year high of $422.00.

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, topping analysts' consensus estimates of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. On average, sell-side analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.08%. This is a positive change from Trane Technologies's previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies's dividend payout ratio (DPR) is currently 33.42%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on TT shares. Royal Bank of Canada lifted their price objective 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. Northcoast Research started 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. JPMorgan Chase & Co. raised their price objective on shares of Trane Technologies from $387.00 to $396.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Melius Research reiterated a "hold" rating and issued a $398.00 target price on shares of Trane Technologies in a research note on Tuesday, January 28th. Finally, Citigroup dropped their price target on shares of Trane Technologies from $478.00 to $476.00 and set a "buy" rating on the stock in a research note on Monday, January 13th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Trane Technologies currently has a consensus rating of "Hold" and an average target price 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.