Trane Technologies plc (NYSE:TT) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC lessened its holdings in Trane Technologies plc (NYSE:TTFree Report) by 6.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 218,742 shares of the company’s stock after selling 14,662 shares during the quarter. Clearbridge Investments LLC owned 0.10% of Trane Technologies worth $53,351,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in TT. Norges Bank purchased a new position in shares of Trane Technologies in the fourth quarter worth about $655,804,000. International Assets Investment Management LLC raised its position in Trane Technologies by 24,670.7% during the fourth quarter. International Assets Investment Management LLC now owns 1,034,423 shares of the company’s stock valued at $252,296,000 after acquiring an additional 1,030,247 shares in the last quarter. JPMorgan Chase & Co. raised its position in Trane Technologies by 5.4% during the third 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 raised its position in Trane Technologies by 12.4% during the third 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. Finally, Wellington Management Group LLP raised its position in Trane Technologies by 36.4% during the third quarter. Wellington Management Group LLP now owns 1,639,058 shares of the company’s stock valued at $332,581,000 after acquiring an additional 436,997 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Price Performance

Shares of NYSE TT opened at $333.53 on Thursday. The stock’s 50-day moving average is $307.42 and its two-hundred day moving average is $270.56. The company has a market cap of $75.49 billion, a price-to-earnings ratio of 35.63, a price-to-earnings-growth ratio of 2.67 and a beta of 1.01. Trane Technologies plc has a 1-year low of $162.04 and a 1-year high of $336.37. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.13 and a quick ratio of 0.74.

Trane Technologies (NYSE:TTGet Free Report) last announced its earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.30. The firm had revenue of $4.22 billion during the quarter, compared to analysts’ expectations of $3.99 billion. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. The business’s revenue was up 15.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.41 EPS. Analysts forecast that Trane Technologies plc will post 10.48 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend is Friday, June 7th. Trane Technologies’s dividend payout ratio is presently 35.90%.

Analyst Ratings Changes

Several brokerages have commented on TT. Robert W. Baird raised their price objective on Trane Technologies from $315.00 to $344.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Mizuho raised their price objective on Trane Technologies from $280.00 to $325.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Royal Bank of Canada raised their price objective on Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a report on Friday, February 2nd. TD Cowen raised their price objective on Trane Technologies from $325.00 to $360.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, The Goldman Sachs Group raised their price objective on Trane Technologies from $287.00 to $326.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Trane Technologies presently has an average rating of “Hold” and a consensus target price of $300.54.

View Our Latest Analysis on Trane Technologies

Insider Buying and Selling at Trane Technologies

In other news, CEO David S. Regnery sold 6,990 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $286.19, for a total transaction of $2,000,468.10. Following the completion of the transaction, the chief executive officer now directly owns 113,874 shares of the company’s stock, valued at approximately $32,589,600.06. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO David S. Regnery sold 6,990 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $286.19, for a total value of $2,000,468.10. Following the completion of the transaction, the chief executive officer now directly owns 113,874 shares of the company’s stock, valued at approximately $32,589,600.06. 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 on Wednesday, March 6th. The stock was sold at an average price of $286.48, for a total value of $1,077,737.76. Following the transaction, the chief financial officer now directly owns 61,691 shares of the company’s stock, valued at $17,673,237.68. The disclosure for this sale can be found here. Insiders sold a total of 22,979 shares of company stock valued at $6,603,372 in the last ninety days. Insiders own 0.39% of the company’s stock.

Trane Technologies Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Trane Technologies (NYSE:TT)

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