Trane Technologies plc (NYSE:TT) Shares Sold by Rhumbline Advisers

Rhumbline Advisers lessened its holdings in Trane Technologies plc (NYSE:TT) by 4.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 436,552 shares of the company’s stock after selling 18,139 shares during the quarter. Rhumbline Advisers owned about 0.19% of Trane Technologies worth $161,240,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. FMR LLC increased its holdings in Trane Technologies by 4.0% in the 3rd quarter. FMR LLC now owns 10,337,672 shares of the company’s stock worth $4,018,563,000 after buying an additional 397,537 shares during the period. State Street Corp boosted its position in Trane Technologies by 0.8% in the 3rd quarter. State Street Corp now owns 9,769,161 shares of the company’s stock worth $3,797,565,000 after purchasing an additional 77,830 shares in the last quarter. Geode Capital Management LLC boosted its position in Trane Technologies by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 4,638,914 shares of the company’s stock worth $1,797,700,000 after purchasing an additional 65,991 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in 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 worth $991,460,000 after purchasing an additional 671,691 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in 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 purchasing an additional 20,151 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Stock Up 0.6 %

NYSE TT opened at $363.58 on Friday. The business has a fifty day moving average price of $379.41 and a 200 day moving average price of $377.91. Trane Technologies plc has a one year low of $270.50 and a one year high of $422.00. 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 cap of $81.81 billion, a P/E ratio of 32.32, a P/E/G ratio of 2.44 and a beta of 1.05.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Thursday, January 30th. The company reported $2.61 EPS for the quarter, beating the consensus estimate 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 announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be paid a $0.94 dividend. The ex-dividend date is Friday, March 7th. 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 1.03%. Trane Technologies’s dividend payout ratio (DPR) is 29.87%.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Robert W. Baird lowered their price objective on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Melius Research restated a “hold” rating and issued a $398.00 price objective on shares of Trane Technologies in a research report on Tuesday, January 28th. Barclays upped their price objective on Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. HSBC lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price on the stock. in a research report on Thursday, October 31st. Finally, Melius lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price on the stock. in a research report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $415.25.

Insiders Place Their Bets

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was 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 directly owns 12,893 shares of the company’s stock, valued at $5,363,488. This trade represents a 25.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Evan M. Turtz sold 318 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $358.12, for a total value of $113,882.16. Following the completion of the sale, the senior vice president now directly owns 20,513 shares of the company’s stock, valued at $7,346,115.56. This trade represents a 1.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 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 insiders.

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.