Russell Investments Group Ltd. Acquires 31,710 Shares of Trane Technologies plc (NYSE:TT)

Russell Investments Group Ltd. boosted its position in Trane Technologies plc (NYSE:TT) by 9.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 364,989 shares of the company’s stock after buying an additional 31,710 shares during the period. Russell Investments Group Ltd. owned approximately 0.16% of Trane Technologies worth $134,828,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of TT. Tidal Investments LLC increased its holdings in Trane Technologies by 22.2% during the 3rd quarter. Tidal Investments LLC now owns 15,827 shares of the company’s stock worth $6,152,000 after acquiring an additional 2,874 shares during the period. Synovus Financial Corp boosted its position in shares of Trane Technologies by 16.8% during the third quarter. Synovus Financial Corp now owns 8,828 shares of the company’s stock valued at $3,431,000 after buying an additional 1,271 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in Trane Technologies in the fourth quarter worth approximately $468,000. HB Wealth Management LLC boosted its position in shares of Trane Technologies by 14.3% in the fourth quarter. HB Wealth Management LLC now owns 5,689 shares of the company’s stock worth $2,101,000 after purchasing an additional 711 shares during the period. Finally, Crossmark Global Holdings Inc. boosted its holdings in shares of Trane Technologies by 31.2% during the 4th quarter. Crossmark Global Holdings Inc. now owns 29,057 shares of the company’s stock valued at $10,733,000 after purchasing an additional 6,910 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on TT. Melius Research reaffirmed a “hold” rating and issued a $398.00 price target on shares of Trane Technologies in a research note on Tuesday, January 28th. Wells Fargo & Company cut their price objective on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a research report on Friday, January 31st. Royal Bank of Canada raised their price target on Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a report on Friday, January 3rd. JPMorgan Chase & Co. raised their target price on Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Finally, UBS Group decreased their price objective on Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Trane Technologies currently has a consensus rating of “Hold” and an average price target of $413.69.

Trane Technologies Stock Performance

Shares of TT opened at $318.18 on Friday. The firm has a market cap of $71.36 billion, a price-to-earnings ratio of 28.28, a PEG ratio of 2.50 and a beta of 1.08. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. Trane Technologies plc has a 52-week low of $286.32 and a 52-week high of $422.00. The business’s 50 day moving average is $351.63 and its two-hundred day moving average is $378.92.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data 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%. Analysts forecast that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend is Friday, June 6th. Trane Technologies’s payout ratio is 33.42%.

Insiders Place Their Bets

In related news, CEO David S. Regnery sold 2,754 shares of the business’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 directly owns 132,969 shares in the company, valued at approximately $47,515,142.46. The trade was a 2.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Christopher J. Kuehn sold 876 shares of the firm’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 sale, the chief financial officer now directly owns 63,841 shares in the company, valued at $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 quarter, insiders have sold 7,234 shares of company stock worth $2,588,102. Company insiders own 0.38% of the company’s stock.

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.