Fmr LLC Has $3.83 Billion Holdings in Trane Technologies plc (NYSE:TT)

Fmr LLC increased its holdings in Trane Technologies plc (NYSE:TT) by 0.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,357,926 shares of the company’s stock after buying an additional 20,254 shares during the period. Fmr LLC owned 4.60% of Trane Technologies worth $3,825,700,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. IHT Wealth Management LLC raised its stake in Trane Technologies by 55.3% in the third quarter. IHT Wealth Management LLC now owns 1,249 shares of the company’s stock valued at $485,000 after purchasing an additional 445 shares in the last quarter. Quantinno Capital Management LP boosted its position in shares of Trane Technologies by 40.6% during the 3rd quarter. Quantinno Capital Management LP now owns 10,991 shares of the company’s stock worth $4,273,000 after acquiring an additional 3,174 shares in the last quarter. Wellington Management Group LLP increased its stake in Trane Technologies by 4.3% in the third quarter. Wellington Management Group LLP now owns 728,428 shares of the company’s stock valued at $283,162,000 after acquiring an additional 30,038 shares during the last quarter. Voya Financial Advisors Inc. bought a new stake in Trane Technologies during the third quarter worth $289,000. Finally, Kovitz Investment Group Partners LLC acquired a new stake in shares of Trane Technologies in the 3rd quarter valued at $1,438,000. Institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling

In related news, CFO Christopher J. Kuehn sold 876 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total transaction of $313,099.92. Following the transaction, the chief financial officer now directly owns 63,841 shares of the company’s stock, valued at approximately $22,818,050.22. This represents a 1.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David S. Regnery sold 2,754 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total value of $984,114.36. Following the completion of the sale, the chief executive officer now directly owns 132,969 shares of the company’s stock, valued at $47,515,142.46. This trade represents a 2.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,234 shares of company stock valued at $2,588,102 over the last ninety days. 0.38% of the stock is owned by corporate insiders.

Trane Technologies Trading Down 3.9 %

TT opened at $318.18 on Friday. Trane Technologies plc has a twelve month low of $286.32 and a twelve month high of $422.00. The company has a fifty day moving average of $351.63 and a 200-day moving average of $378.95. The stock has a market cap of $71.36 billion, a PE ratio of 28.28, a price-to-earnings-growth 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 (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%. On average, sell-side analysts predict that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

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 given a dividend of $0.94 per share. The ex-dividend date is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.18%. Trane Technologies’s payout ratio is presently 33.42%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Citigroup dropped their price objective on Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Royal Bank of Canada increased their target price on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a report on Friday, January 3rd. Barclays decreased their price target on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. Wells Fargo & Company dropped their price objective on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. One 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. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $413.69.

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.