Janus Henderson Group PLC Trims Position in Trane Technologies plc (NYSE:TT)

Janus Henderson Group PLC reduced its stake in Trane Technologies plc (NYSE:TT) by 2.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,061,695 shares of the company’s stock after selling 29,715 shares during the period. Janus Henderson Group PLC owned approximately 0.47% of Trane Technologies worth $392,154,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of TT. Ameritas Advisory Services LLC acquired a new position in shares of Trane Technologies during the fourth quarter worth about $468,000. HB Wealth Management LLC grew its position in shares of Trane Technologies by 14.3% during the fourth quarter. HB Wealth Management LLC now owns 5,689 shares of the company’s stock worth $2,101,000 after buying an additional 711 shares in the last quarter. Crossmark Global Holdings Inc. grew its position in shares of Trane Technologies by 31.2% during the fourth quarter. Crossmark Global Holdings Inc. now owns 29,057 shares of the company’s stock worth $10,733,000 after buying an additional 6,910 shares in the last quarter. Stonegate Investment Group LLC grew its position in shares of Trane Technologies by 11.9% during the fourth quarter. Stonegate Investment Group LLC now owns 15,378 shares of the company’s stock worth $5,680,000 after buying an additional 1,633 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC grew its position in shares of Trane Technologies by 1,490.3% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 19,417 shares of the company’s stock worth $7,172,000 after buying an additional 18,196 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Trane Technologies

In related news, insider Donald E. Simmons sold 3,571 shares of the company’s stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the transaction, the insider now owns 3,593 shares of the company’s stock, valued at $1,365,340. This represents a 49.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

TT has been the subject of a number of analyst reports. Royal Bank of Canada boosted their price objective on Trane Technologies from $363.00 to $408.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 1st. Melius Research reaffirmed a “hold” rating and issued a $398.00 price target on shares of Trane Technologies in a report on Tuesday, January 28th. Hsbc Global Res raised Trane Technologies from a “hold” rating to a “strong-buy” rating in a report on Friday, April 25th. Barclays lowered their price target on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a report on Monday, March 10th. Finally, HSBC raised Trane Technologies from a “hold” rating to a “buy” rating and upped their price target for the company from $405.00 to $415.00 in a report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Trane Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $421.07.

Trane Technologies Price Performance

Shares of NYSE TT opened at $404.32 on Monday. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $422.00. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The stock has a 50 day moving average of $350.05 and a two-hundred day moving average of $372.15. The stock has a market cap of $90.17 billion, a P/E ratio of 35.94, a P/E/G ratio of 2.50 and a beta of 1.14.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.20 by $0.25. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The business had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.46 billion. During the same quarter in the prior year, the business earned $1.94 earnings per share. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. On average, research analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 0.93%. The ex-dividend date is Friday, June 6th. Trane Technologies’s dividend payout ratio (DPR) is presently 31.28%.

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.