Bailard Inc. lifted its stake in Trane Technologies plc (NYSE:TT – Get Rating) by 2.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 45,098 shares of the company’s stock after buying an additional 1,088 shares during the quarter. Bailard Inc.’s holdings in Trane Technologies were worth $7,581,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of the stock. Bank of New York Mellon Corp increased its holdings in shares of Trane Technologies by 48.2% in the third quarter. Bank of New York Mellon Corp now owns 5,366,040 shares of the company’s stock valued at $777,057,000 after purchasing an additional 1,745,741 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Trane Technologies by 56.5% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 3,790,429 shares of the company’s stock worth $549,178,000 after buying an additional 1,368,481 shares during the last quarter. First Trust Advisors LP lifted its holdings in Trane Technologies by 1,925.5% during the 3rd quarter. First Trust Advisors LP now owns 1,265,126 shares of the company’s stock worth $183,203,000 after buying an additional 1,202,666 shares during the last quarter. Capital World Investors increased its position in shares of Trane Technologies by 47.1% during the first quarter. Capital World Investors now owns 2,475,871 shares of the company’s stock worth $378,184,000 after purchasing an additional 792,225 shares in the last quarter. Finally, Fisher Asset Management LLC increased its position in Trane Technologies by 7,757.9% in the 3rd quarter. Fisher Asset Management LLC now owns 765,592 shares of the company’s stock valued at $110,866,000 after acquiring an additional 755,849 shares during the period. Hedge funds and other institutional investors own 81.47% of the company’s stock.
Trane Technologies Price Performance
Shares of NYSE TT traded down $0.86 during trading on Tuesday, hitting $175.62. The company had a trading volume of 265,058 shares, compared to its average volume of 1,529,648. The company has a market cap of $40.23 billion, a P/E ratio of 23.56, a PEG ratio of 1.95 and a beta of 0.99. Trane Technologies plc has a 52 week low of $120.64 and a 52 week high of $196.22. The business’s 50-day moving average is $182.19 and its 200 day moving average is $173.01. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.77 and a current ratio of 1.12.
Trane Technologies (NYSE:TT – Get Rating) last posted its quarterly earnings data on Thursday, February 2nd. The company reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.18. Trane Technologies had a net margin of 10.98% and a return on equity of 29.14%. The firm had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $3.94 billion. During the same period in the previous year, the company posted $1.36 EPS. The company’s quarterly revenue was up 14.1% compared to the same quarter last year. Equities research analysts predict that Trane Technologies plc will post 8.23 earnings per share for the current fiscal year.
Trane Technologies Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 2nd will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend is Thursday, June 1st. Trane Technologies’s dividend payout ratio is presently 40.05%.
Analyst Upgrades and Downgrades
TT has been the topic of several recent analyst reports. The Goldman Sachs Group dropped their target price on Trane Technologies from $203.00 to $178.00 and set a “neutral” rating on the stock in a research report on Friday. Morgan Stanley increased their price target on Trane Technologies from $193.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, February 3rd. Mizuho increased their price target on Trane Technologies from $175.00 to $185.00 and gave the stock a “neutral” rating in a research note on Friday, February 3rd. Argus upped their price objective on Trane Technologies from $185.00 to $200.00 in a report on Wednesday, February 8th. Finally, Wells Fargo & Company lowered their price target on Trane Technologies from $176.00 to $163.00 and set an “underweight” rating for the company in a report on Thursday, April 13th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $181.61.
Insider Buying and Selling
In other Trane Technologies news, SVP Keith A. Sultana sold 279 shares of the business’s stock in a transaction on Friday, February 10th. The shares were sold at an average price of $182.02, for a total transaction of $50,783.58. Following the completion of the transaction, the senior vice president now owns 34,864 shares of the company’s stock, valued at approximately $6,345,945.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, SVP Keith A. Sultana sold 279 shares of the company’s stock in a transaction dated Friday, February 10th. The shares were sold at an average price of $182.02, for a total transaction of $50,783.58. Following the completion of the transaction, the senior vice president now owns 34,864 shares of the company’s stock, valued at $6,345,945.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Paul A. Camuti sold 7,950 shares of the company’s stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $190.78, for a total transaction of $1,516,701.00. Following the transaction, the executive vice president now directly owns 89,021 shares of the company’s stock, valued at approximately $16,983,426.38. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,967 shares of company stock worth $3,007,750. Corporate insiders own 0.74% of the company’s stock.
About Trane Technologies
Trane Technologies Plc engages in providing solutions to buildings, homes, and transportation. It operates through the following business segments: Americas, EMEA, and Asia Pacific. The Americas segment encompasses commercial heating and cooling systems, building controls, and energy services and solutions, residential heating and cooling, and transport refrigeration systems, and solutions in North America and Latin America regions.