National Pension Service Trims Stock Position in Trane Technologies plc (NYSE:TT)

National Pension Service reduced its stake in shares of Trane Technologies plc (NYSE:TT) by 4.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 571,457 shares of the company’s stock after selling 26,677 shares during the quarter. National Pension Service’s holdings in Trane Technologies were worth $211,068,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Global Wealth Strategies & Associates acquired a new stake in Trane Technologies during the fourth quarter valued at $26,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Trane Technologies during the third quarter worth about $27,000. Sound Income Strategies LLC lifted its position 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 valued at $37,000 after acquiring an additional 92 shares in the last quarter. Pittenger & Anderson Inc. purchased a new position in Trane Technologies in the 3rd quarter valued at $39,000. Finally, Golden State Wealth Management LLC acquired a new stake in Trane Technologies during the 4th quarter worth $39,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on TT shares. Melius downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective for the company. in a report on Tuesday, January 28th. Barclays upped their price objective on Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Melius Research reaffirmed a “hold” rating and issued a $398.00 price target on shares of Trane Technologies in a research note on Tuesday, January 28th. HSBC downgraded 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. Finally, Wells Fargo & Company decreased their target price on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $415.25.

Insider Activity at Trane Technologies

In other Trane Technologies news, SVP Evan M. Turtz sold 318 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $358.12, for a total transaction of $113,882.16. Following the transaction, the senior vice president now owns 20,513 shares in the company, valued at approximately $7,346,115.56. The trade was a 1.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Mairead Magner sold 4,329 shares of Trane Technologies stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total value of $1,800,864.00. Following the completion of the sale, the senior vice president now owns 12,893 shares in the company, valued at approximately $5,363,488. This trade represents a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,563 shares of company stock valued at $4,388,966 in the last three months. 0.38% of the stock is currently owned by company insiders.

Trane Technologies Price Performance

Trane Technologies stock opened at $349.10 on Wednesday. Trane Technologies plc has a 12-month low of $279.00 and a 12-month high of $422.00. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The stock has a market cap of $78.30 billion, a P/E ratio of 31.03, a price-to-earnings-growth ratio of 2.50 and a beta of 1.05. The company has a fifty day simple moving average of $372.93 and a 200-day simple moving average of $380.47.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Thursday, January 30th. The company reported $2.61 EPS 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%. Equities analysts expect that Trane Technologies plc will post 12.83 EPS 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 issued a dividend of $0.94 per share. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.76 annualized dividend and a dividend yield of 1.08%. Trane Technologies’s dividend payout ratio (DPR) is presently 29.87%.

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.