Northwest & Ethical Investments L.P. Has $22.22 Million Stock Holdings in Trane Technologies plc (NYSE:TT)

Northwest & Ethical Investments L.P. trimmed its holdings in shares of Trane Technologies plc (NYSE:TT) by 11.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 60,159 shares of the company’s stock after selling 7,429 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Trane Technologies were worth $22,220,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of TT. Swedbank AB increased its holdings in shares of Trane Technologies by 2.8% during the third quarter. Swedbank AB now owns 743,794 shares of the company’s stock worth $289,135,000 after purchasing an additional 20,400 shares during the period. Pathstone Holdings LLC increased its stake in Trane Technologies by 9.9% in the third quarter. Pathstone Holdings LLC now owns 41,808 shares of the company’s stock valued at $16,252,000 after acquiring an additional 3,766 shares during the last quarter. Caprock Group LLC increased its holdings in shares of Trane Technologies by 36.3% during the third quarter. Caprock Group LLC now owns 5,264 shares of the company’s stock worth $2,046,000 after buying an additional 1,401 shares in the last quarter. West Family Investments Inc. increased its holdings in shares of Trane Technologies by 17.2% during the third quarter. West Family Investments Inc. now owns 1,072 shares of the company’s stock worth $417,000 after buying an additional 157 shares in the last quarter. Finally, Avior Wealth Management LLC increased its holdings in shares of Trane Technologies by 18.2% during the third quarter. Avior Wealth Management LLC now owns 1,186 shares of the company’s stock worth $461,000 after buying an additional 183 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Trane Technologies

In related news, SVP Evan M. Turtz sold 318 shares of Trane Technologies 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 completion of the transaction, the senior vice president now directly owns 20,513 shares in the company, valued at $7,346,115.56. The trade was a 1.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Mairead Magner sold 198 shares of Trane Technologies stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total transaction of $70,806.78. Following the completion of the sale, the senior vice president now directly owns 13,401 shares of the company’s stock, valued at $4,792,331.61. The trade was a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,234 shares of company stock worth $2,588,102 over the last ninety days. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Stock Performance

TT opened at $350.28 on Thursday. The firm has a fifty day moving average price of $362.58 and a 200 day moving average price of $379.83. Trane Technologies plc has a 1 year low of $286.32 and a 1 year high of $422.00. The stock has a market cap of $78.56 billion, a P/E ratio of 31.14, a P/E/G ratio of 2.50 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share 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%. Equities research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share 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 paid a $0.94 dividend. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 dividend on an annualized basis and a yield of 1.07%. Trane Technologies’s dividend payout ratio (DPR) is currently 33.42%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TT. Barclays reduced their price objective 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. Wells Fargo & Company lowered their target price 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. UBS Group decreased their price objective on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Melius lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price for the company. in a report on Tuesday, January 28th. Finally, Royal Bank of Canada increased their price objective on Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a report on Friday, January 3rd. One equities research 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. Based on data from MarketBeat, Trane Technologies has a consensus rating of “Hold” and an average target price of $413.69.

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.