Tiaa Fsb lowered its position in shares of Trane Technologies plc (NYSE:TT – Get Rating) by 3.5% in the third quarter, HoldingsChannel.com reports. The fund owned 6,977 shares of the company’s stock after selling 253 shares during the quarter. Tiaa Fsb’s holdings in Trane Technologies were worth $1,010,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its position in Trane Technologies by 2.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 20,163,515 shares of the company’s stock worth $2,618,635,000 after acquiring an additional 409,850 shares during the period. Vanguard Group Inc. lifted its position in Trane Technologies by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 18,133,851 shares of the company’s stock worth $2,769,040,000 after acquiring an additional 77,924 shares during the period. Ninety One UK Ltd lifted its position in Trane Technologies by 5.8% during the 1st quarter. Ninety One UK Ltd now owns 2,763,819 shares of the company’s stock worth $422,035,000 after acquiring an additional 150,960 shares during the period. Capital World Investors lifted its holdings in shares of Trane Technologies by 47.1% in the 1st quarter. Capital World Investors now owns 2,475,871 shares of the company’s stock valued at $378,184,000 after buying an additional 792,225 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Trane Technologies by 33.7% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,421,948 shares of the company’s stock valued at $314,539,000 after buying an additional 611,117 shares during the period. Institutional investors and hedge funds own 80.25% of the company’s stock.
Trane Technologies Price Performance
TT stock opened at $170.36 on Monday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.14 and a quick ratio of 0.78. The business has a 50-day simple moving average of $165.98 and a 200-day simple moving average of $152.38. The firm has a market capitalization of $39.24 billion, a PE ratio of 24.62, a price-to-earnings-growth ratio of 2.08 and a beta of 1.02. Trane Technologies plc has a 1 year low of $120.64 and a 1 year high of $203.34.
Trane Technologies (NYSE:TT – Get Rating) last posted its quarterly earnings results on Wednesday, November 2nd. The company reported $2.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.15. Trane Technologies has a return on equity of 27.32% and a net margin of 10.56%. The business had revenue of $4.37 billion during the quarter, compared to analyst estimates of $4.16 billion. Equities research analysts anticipate that Trane Technologies plc will post 7.17 earnings per share for the current fiscal year.
Trane Technologies Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Friday, December 2nd will be issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date is Thursday, December 1st. Trane Technologies’ dividend payout ratio is presently 38.73%.
Insider Activity at Trane Technologies
In related news, SVP Mairead Magner sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 2nd. The stock was sold at an average price of $165.00, for a total value of $165,000.00. Following the transaction, the senior vice president now directly owns 11,079 shares in the company, valued at $1,828,035. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Trane Technologies news, SVP Mairead Magner sold 1,000 shares of the company’s stock in a transaction on Wednesday, November 2nd. The stock was sold at an average price of $165.00, for a total transaction of $165,000.00. Following the transaction, the senior vice president now directly owns 11,079 shares in the company, valued at $1,828,035. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed via the SEC website. Also, CEO David S. Regnery sold 14,651 shares of the company’s stock in a transaction on Friday, November 25th. The stock was sold at an average price of $179.00, for a total value of $2,622,529.00. Following the transaction, the chief executive officer now owns 95,751 shares in the company, valued at $17,139,429. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,651 shares of company stock worth $2,947,529. Insiders own 0.74% of the company’s stock.
Analyst Ratings Changes
TT has been the subject of several analyst reports. Morgan Stanley boosted their price objective on Trane Technologies from $166.00 to $183.00 and gave the company an “overweight” rating in a report on Thursday, November 3rd. Argus boosted their price objective on Trane Technologies from $170.00 to $185.00 in a report on Tuesday, November 8th. Citigroup upped their price target on Trane Technologies from $185.00 to $204.00 in a report on Friday, December 9th. Credit Suisse Group upped their price target on Trane Technologies from $175.00 to $187.00 and gave the stock an “outperform” rating in a report on Thursday, November 3rd. Finally, JPMorgan Chase & Co. boosted their price objective on Trane Technologies from $116.00 to $126.00 and gave the stock an “underweight” rating in a research note on Thursday, November 3rd. Three investment analysts have rated the stock with a sell rating, six have been given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $172.17.
Trane Technologies Profile
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Trane Technologies plc, together with its subsidiaries, engages in the designing, manufacturing, selling and servicing of solutions for heating, ventilation, air conditioning and transport refrigeration. It offers air conditioners, exchangers, and handlers; airside and terminal devices; auxiliary power units; chillers; coils and condensers; generators; furnaces; heat pumps; home automation products; humidifiers; hybrid and non-diesel transport refrigeration, and ice energy storage solutions; indoor air quality assessments and related products; large and light commercial unitary products; motor replacements; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.
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