Anchor Capital Advisors LLC Has $48.38 Million Holdings in Trane Technologies plc (NYSE:TT)

Anchor Capital Advisors LLC reduced its stake in shares of Trane Technologies plc (NYSE:TT) by 6.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 130,983 shares of the company’s stock after selling 8,720 shares during the period. Trane Technologies accounts for approximately 1.4% of Anchor Capital Advisors LLC’s investment portfolio, making the stock its 19th biggest position. Anchor Capital Advisors LLC’s holdings in Trane Technologies were worth $48,379,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. QRG Capital Management Inc. lifted its position in shares of Trane Technologies by 4.4% in the 4th quarter. QRG Capital Management Inc. now owns 45,327 shares of the company’s stock worth $16,741,000 after purchasing an additional 1,921 shares during the period. Proficio Capital Partners LLC lifted its holdings in Trane Technologies by 47,293.6% in the fourth quarter. Proficio Capital Partners LLC now owns 253,082 shares of the company’s stock valued at $93,476,000 after buying an additional 252,548 shares during the period. Mn Services Vermogensbeheer B.V. boosted its position in Trane Technologies by 3.1% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 90,273 shares of the company’s stock valued at $33,342,000 after acquiring an additional 2,700 shares during the last quarter. Simmons Bank grew its holdings in Trane Technologies by 12.8% during the 4th quarter. Simmons Bank now owns 725 shares of the company’s stock worth $268,000 after acquiring an additional 82 shares during the period. Finally, Checchi Capital Advisers LLC raised its position in shares of Trane Technologies by 21.8% in the 4th quarter. Checchi Capital Advisers LLC now owns 2,373 shares of the company’s stock worth $876,000 after acquiring an additional 425 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Trane Technologies news, CFO Christopher J. Kuehn sold 770 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $358.39, for a total transaction of $275,960.30. Following the completion of the transaction, the chief financial officer now directly owns 62,221 shares of the company’s stock, valued at approximately $22,299,384.19. This represents a 1.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Mairead Magner sold 4,329 shares of the business’s stock in a transaction 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. The trade was a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,563 shares of company stock worth $4,388,966. Insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

TT has been the subject of a number of research analyst reports. Barclays lifted their target price on Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. JPMorgan Chase & Co. boosted their target price on shares of Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. UBS Group reduced their price target on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a report on Friday, January 31st. Wells Fargo & Company dropped their price objective on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. Finally, Citigroup reduced their target price on Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a research note on Monday, January 13th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $415.25.

Trane Technologies Trading Down 1.7 %

Shares of TT stock opened at $344.64 on Friday. Trane Technologies plc has a 52-week low of $279.00 and a 52-week high of $422.00. The company has a 50-day simple moving average of $371.72 and a two-hundred day simple moving average of $380.02. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. The company has a market capitalization of $77.30 billion, a price-to-earnings ratio of 30.63, a PEG ratio of 2.50 and a beta of 1.05.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Thursday, January 30th. The company reported $2.61 EPS for the quarter, topping 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%. Research analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be issued a $0.94 dividend. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date is Friday, March 7th. Trane Technologies’s payout ratio is 29.87%.

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.