Kentucky Retirement Systems trimmed its holdings in Trane Technologies plc (NYSE:TT – Free Report) by 1.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 15,508 shares of the company’s stock after selling 213 shares during the quarter. Kentucky Retirement Systems’ holdings in Trane Technologies were worth $5,728,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the business. Global Wealth Strategies & Associates bought a new position in shares of Trane Technologies in the 4th quarter valued at approximately $26,000. MidAtlantic Capital Management Inc. acquired a new position in Trane Technologies during the third quarter valued at approximately $27,000. DT Investment Partners LLC bought a new position in shares of Trane Technologies in the third quarter valued at approximately $36,000. Sound Income Strategies LLC lifted its stake in shares of Trane Technologies by 1,314.3% in the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock worth $37,000 after buying an additional 92 shares during the last quarter. Finally, Pittenger & Anderson Inc. bought a new stake in shares of Trane Technologies during the 3rd quarter worth $39,000. Institutional investors and hedge funds own 82.97% of the company’s stock.
Insider Transactions at Trane Technologies
In other Trane Technologies news, SVP Evan M. Turtz sold 318 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $358.12, for a total transaction of $113,882.16. Following the sale, the senior vice president now owns 20,513 shares of the company’s stock, valued at $7,346,115.56. This represents a 1.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Mairead Magner sold 4,329 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the completion of the sale, the senior vice president now owns 12,893 shares of the company’s stock, valued at $5,363,488. The trade was a 25.14 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,563 shares of company stock valued at $4,388,966. Corporate insiders own 0.38% of the company’s stock.
Trane Technologies Price Performance
Trane Technologies (NYSE:TT – Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, beating analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. As a group, equities research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.
Trane Technologies Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.03%. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies’s dividend payout ratio is currently 29.87%.
Wall Street Analyst Weigh In
Several research analysts recently commented on TT shares. Melius Research reiterated a “hold” rating and issued a $398.00 target price on shares of Trane Technologies in a report on Tuesday, January 28th. Citigroup cut 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. JPMorgan Chase & Co. increased their target price on Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Northcoast Research started coverage on Trane Technologies in a report on Friday, November 22nd. They set a “buy” rating and a $500.00 price target for the company. Finally, HSBC cut Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective for the company. in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $415.25.
Check Out Our Latest Research Report on TT
About Trane Technologies
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.
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