Trane Technologies plc (NYSE:TT) Shares Sold by Weatherly Asset Management L. P.

Weatherly Asset Management L. P. cut its position in Trane Technologies plc (NYSE:TT) by 2.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,371 shares of the company’s stock after selling 321 shares during the period. Weatherly Asset Management L. P.’s holdings in Trane Technologies were worth $4,569,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC lifted its position in Trane Technologies by 35,914.4% during the third quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company’s stock worth $639,514,000 after buying an additional 1,640,569 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position 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 worth $991,460,000 after buying an additional 671,691 shares in the last quarter. FMR LLC lifted its position in Trane Technologies by 4.0% during the third quarter. FMR LLC now owns 10,337,672 shares of the company’s stock worth $4,018,563,000 after buying an additional 397,537 shares in the last quarter. Nordea Investment Management AB lifted its position in Trane Technologies by 42.9% during the fourth quarter. Nordea Investment Management AB now owns 978,275 shares of the company’s stock worth $361,874,000 after buying an additional 293,916 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in Trane Technologies by 76.9% during the third quarter. Assenagon Asset Management S.A. now owns 417,193 shares of the company’s stock worth $162,175,000 after buying an additional 181,335 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Trading Up 1.1 %

TT opened at $360.23 on Tuesday. Trane Technologies plc has a 12 month low of $265.37 and a 12 month high of $422.00. The stock has a market capitalization of $81.06 billion, a price-to-earnings ratio of 32.02, a PEG ratio of 2.44 and a beta of 1.05. 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 business has a fifty day moving average price of $383.65 and a 200 day moving average price of $377.63.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share (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%. 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 firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be given a dividend of $0.94 per share. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies’s dividend payout ratio is currently 29.87%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Royal Bank of Canada lifted 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. JPMorgan Chase & Co. lifted their target price on Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Citigroup reduced their target price on Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Mizuho lifted their target price on Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Finally, HSBC downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price on the stock. in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Trane Technologies currently has an average rating of “Hold” and a consensus target price of $415.25.

Insider Transactions at Trane Technologies

In related news, SVP Mairead Magner sold 198 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total value of $70,806.78. Following the completion of the sale, the senior vice president now directly owns 13,401 shares of the company’s stock, valued at $4,792,331.61. This represents a 1.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Christopher J. Kuehn sold 876 shares of the company’s stock in a transaction dated 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,157 shares of company stock valued at $3,168,885. 0.38% of the stock is currently owned by corporate insiders.

Trane Technologies Company 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.