Wells Fargo & Company MN Sells 16,855 Shares of Trane Technologies plc (NYSE:TT)

Wells Fargo & Company MN lessened its holdings in Trane Technologies plc (NYSE:TT) by 2.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 590,034 shares of the company’s stock after selling 16,855 shares during the period. Wells Fargo & Company MN’s holdings in Trane Technologies were worth $217,929,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Global Wealth Strategies & Associates bought a new position in Trane Technologies during the 4th quarter valued at about $26,000. Sound Income Strategies LLC boosted its holdings in shares of Trane Technologies by 1,314.3% in the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock worth $37,000 after acquiring an additional 92 shares in the last quarter. Flagship Wealth Advisors LLC acquired a new stake in Trane Technologies during the 4th quarter valued at $37,000. Golden State Wealth Management LLC bought a new position in Trane Technologies in the 4th quarter valued at $39,000. Finally, Legacy Investment Solutions LLC acquired a new position in Trane Technologies in the third quarter worth $44,000. Institutional investors own 82.97% of the company’s stock.

Insider Transactions at Trane Technologies

In other news, SVP Mairead Magner sold 198 shares of Trane Technologies stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total value of $70,806.78. Following the sale, the senior vice president now directly owns 13,401 shares in the company, valued at $4,792,331.61. This trade represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Evan M. Turtz sold 318 shares of Trane Technologies stock in a transaction on Monday, February 10th. The shares were sold at an average price of $358.12, for a total transaction of $113,882.16. Following the completion of the sale, the senior vice president now owns 20,513 shares in the company, valued at $7,346,115.56. The trade was a 1.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,234 shares of company stock valued at $2,588,102 over the last three months. Company insiders own 0.38% of the company’s stock.

Trane Technologies Stock Down 3.9 %

NYSE:TT opened at $318.18 on Friday. The stock has a market cap of $71.36 billion, a price-to-earnings ratio of 28.28, a PEG ratio of 2.50 and a beta of 1.08. 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 50-day moving average price of $351.63 and a two-hundred day moving average price of $378.95. Trane Technologies plc has a 1 year low of $286.32 and a 1 year high of $422.00.

Trane Technologies (NYSE:TT) last announced its earnings results on Thursday, January 30th. The company reported $2.61 EPS for the quarter, topping the consensus estimate of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. As a group, equities analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be issued a $0.94 dividend. The ex-dividend date is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.18%. Trane Technologies’s dividend payout ratio (DPR) is 33.42%.

Wall Street Analyst Weigh In

TT has been the subject of several research reports. Royal Bank of Canada raised their price objective on shares of Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a research report on Friday, January 3rd. UBS Group reduced their price objective on Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Citigroup dropped their target price 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. Melius lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective for the company. in a research report on Tuesday, January 28th. Finally, Barclays reduced their target price on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $413.69.

Trane Technologies 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.