Essex Financial Services Inc. Sells 29 Shares of Trane Technologies plc (NYSE:TT)

Essex Financial Services Inc. trimmed its holdings in shares of Trane Technologies plc (NYSE:TT) by 0.9% during the 4th quarter, Holdings Channel reports. The fund owned 3,267 shares of the company’s stock after selling 29 shares during the period. Essex Financial Services Inc.’s holdings in Trane Technologies were worth $1,207,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in TT. FMR LLC boosted its stake in shares of Trane Technologies by 4.0% during the third quarter. FMR LLC now owns 10,337,672 shares of the company’s stock valued at $4,018,563,000 after purchasing an additional 397,537 shares in the last quarter. State Street Corp lifted its holdings in Trane Technologies by 0.8% during the third quarter. State Street Corp now owns 9,769,161 shares of the company’s stock worth $3,797,565,000 after buying an additional 77,830 shares during the period. Geode Capital Management LLC boosted its position in Trane Technologies by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 4,638,914 shares of the company’s stock valued at $1,797,700,000 after acquiring an additional 65,991 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Trane Technologies by 35.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock valued at $991,460,000 after acquiring an additional 671,691 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Trane Technologies by 0.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,142,081 shares of the company’s stock worth $832,691,000 after acquiring an additional 20,151 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Trading Up 1.1 %

Shares of NYSE:TT opened at $364.55 on Wednesday. Trane Technologies plc has a 52-week low of $265.37 and a 52-week high of $422.00. The stock has a market cap of $82.03 billion, a price-to-earnings ratio of 32.40, a PEG ratio of 2.44 and a beta of 1.05. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The business has a 50-day moving average price of $382.56 and a 200-day moving average price of $377.89.

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

Trane Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.03%. 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. Trane Technologies’s dividend payout ratio is presently 29.87%.

Insiders Place Their Bets

In other Trane Technologies news, CFO Christopher J. Kuehn sold 876 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total value of $313,099.92. Following the sale, the chief financial officer now owns 63,841 shares in the company, valued at approximately $22,818,050.22. This represents a 1.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO David S. Regnery sold 2,754 shares of Trane Technologies stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total transaction of $984,114.36. Following the transaction, the chief executive officer now directly owns 132,969 shares of the company’s stock, valued at approximately $47,515,142.46. This trade represents a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,563 shares of company stock valued at $4,388,966. Company insiders own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on TT shares. Northcoast Research assumed coverage on Trane Technologies in a research report on Friday, November 22nd. They set a “buy” rating and a $500.00 price objective on the stock. Melius cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price target on the stock. in a report on Tuesday, January 28th. Hsbc Global Res lowered shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. increased 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. Finally, Barclays lifted their price target on shares of Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, Trane Technologies presently has a consensus rating of “Hold” and a consensus price target of $415.25.

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.