Trane Technologies plc (NYSE:TT) Stock Position Decreased by Wellington Management Group LLP

Wellington Management Group LLP cut its stake in shares of Trane Technologies plc (NYSE:TT) by 14.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 621,472 shares of the company’s stock after selling 106,956 shares during the period. Wellington Management Group LLP owned approximately 0.28% of Trane Technologies worth $229,541,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in Trane Technologies during the 4th quarter worth approximately $1,117,816,000. Raymond James Financial Inc. purchased a new position in shares of Trane Technologies during the fourth quarter valued at $611,322,000. Bank Julius Baer & Co. Ltd Zurich raised its position in Trane Technologies by 455.2% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 427,226 shares of the company’s stock valued at $167,977,000 after buying an additional 350,277 shares during the period. Nordea Investment Management AB lifted its stake in Trane Technologies by 42.9% in the 4th quarter. Nordea Investment Management AB now owns 978,275 shares of the company’s stock worth $361,874,000 after acquiring an additional 293,916 shares in the last quarter. Finally, Caisse Des Depots ET Consignations acquired a new stake in Trane Technologies during the 4th quarter worth about $98,560,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Trane Technologies

In related news, CFO Christopher J. Kuehn sold 770 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $358.39, for a total transaction of $275,960.30. Following the transaction, the chief financial officer now directly owns 62,221 shares in the company, valued at $22,299,384.19. The trade was a 1.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 $47,515,142.46. This represents a 2.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,234 shares of company stock worth $2,588,102 in the last ninety days. 0.38% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TT. JPMorgan Chase & Co. upped their target price on Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Melius Research reissued a “hold” rating and set a $398.00 target price on shares of Trane Technologies in a research note on Tuesday, January 28th. Wells Fargo & Company dropped their price target on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a research note on Friday, January 31st. 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. Finally, Barclays dropped their target price 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 investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Trane Technologies has an average rating of “Hold” and an average target price of $413.69.

Trane Technologies Stock Performance

Shares of TT opened at $348.45 on Thursday. 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 one year low of $286.32 and a one year high of $422.00. The company’s fifty day moving average price is $354.67 and its 200 day moving average price is $379.61. The company has a market capitalization of $78.15 billion, a PE ratio of 30.97, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share 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%. As a group, analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 7th were given a dividend of $0.94 per share. The ex-dividend date was Friday, March 7th. This represents a $3.76 dividend on an annualized basis and a yield of 1.08%. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s payout ratio is 33.42%.

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.