Ninety One North America Inc. Sells 7,270 Shares of Trane Technologies plc (NYSE:TT)

Ninety One North America Inc. lessened its position in Trane Technologies plc (NYSE:TT) by 40.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,821 shares of the company’s stock after selling 7,270 shares during the quarter. Ninety One North America Inc.’s holdings in Trane Technologies were worth $2,639,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Trane Technologies by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 18,133,851 shares of the company’s stock worth $2,769,040,000 after purchasing an additional 77,924 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Trane Technologies by 5.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,085,662 shares of the company’s stock valued at $3,466,852,000 after acquiring an additional 880,583 shares in the last quarter. FMR LLC boosted its position in shares of Trane Technologies by 12.4% during the 3rd quarter. FMR LLC now owns 5,743,154 shares of the company’s stock valued at $1,165,343,000 after acquiring an additional 632,598 shares in the last quarter. Geode Capital Management LLC boosted its position in Trane Technologies by 1.7% in the first quarter. Geode Capital Management LLC now owns 4,765,976 shares of the company’s stock valued at $874,863,000 after buying an additional 80,607 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in Trane Technologies by 2.6% in the third quarter. Ameriprise Financial Inc. now owns 4,050,779 shares of the company’s stock valued at $821,952,000 after buying an additional 103,823 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Insider Transactions at Trane Technologies

In other Trane Technologies news, CFO Christopher J. Kuehn sold 3,762 shares of Trane Technologies stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $286.48, for a total transaction of $1,077,737.76. Following the transaction, the chief financial officer now directly owns 61,691 shares in the company, valued at $17,673,237.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Trane Technologies news, CFO Christopher J. Kuehn sold 2,767 shares of Trane Technologies stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $268.31, for a total value of $742,413.77. Following the sale, the chief financial officer now owns 54,788 shares of the company’s stock, valued at approximately $14,700,168.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Christopher J. Kuehn sold 3,762 shares of Trane Technologies stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $286.48, for a total value of $1,077,737.76. Following the completion of the sale, the chief financial officer now directly owns 61,691 shares in the company, valued at approximately $17,673,237.68. The disclosure for this sale can be found here. Insiders have sold 29,874 shares of company stock worth $8,462,825 in the last three months. Insiders own 0.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TT. Citigroup boosted their price target on shares of Trane Technologies from $309.00 to $355.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Barclays boosted their price target on shares of Trane Technologies from $286.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Royal Bank of Canada boosted their price target on shares of Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a research report on Friday, February 2nd. Stephens boosted their price target on shares of Trane Technologies from $235.00 to $280.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. Finally, The Goldman Sachs Group boosted their target price on shares of Trane Technologies from $253.00 to $287.00 and gave the stock a “neutral” rating in a research note on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $251.83.

Trane Technologies Trading Down 0.4 %

NYSE TT traded down $1.21 during trading hours on Thursday, hitting $291.88. The company’s stock had a trading volume of 234,486 shares, compared to its average volume of 991,679. Trane Technologies plc has a twelve month low of $162.04 and a twelve month high of $306.98. The firm has a market capitalization of $66.28 billion, a P/E ratio of 33.34, a PEG ratio of 2.49 and a beta of 1.05. The company has a quick ratio of 0.78, a current ratio of 1.13 and a debt-to-equity ratio of 0.57. The stock has a fifty day moving average of $289.02 and a 200 day moving average of $250.01.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Thursday, February 1st. The company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.13 by $0.04. Trane Technologies had a return on equity of 32.01% and a net margin of 11.45%. The company had revenue of $4.42 billion for the quarter, compared to the consensus estimate of $4.43 billion. During the same quarter in the prior year, the business posted $1.82 EPS. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. Equities research analysts forecast that Trane Technologies plc will post 10.2 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a $0.84 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $3.36 annualized dividend and a dividend yield of 1.15%. Trane Technologies’s dividend payout ratio is currently 38.23%.

Trane Technologies Company 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.