Thrivent Financial for Lutherans Decreases Stock Holdings in Trane Technologies plc (NYSE:TT)

Thrivent Financial for Lutherans lessened its position in Trane Technologies plc (NYSE:TT) by 1.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 116,306 shares of the company’s stock after selling 1,637 shares during the period. Thrivent Financial for Lutherans owned 0.05% of Trane Technologies worth $43,165,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of TT. Axxcess Wealth Management LLC increased its holdings in Trane Technologies by 176.3% during the 4th quarter. Axxcess Wealth Management LLC now owns 1,445 shares of the company’s stock valued at $534,000 after purchasing an additional 922 shares during the period. Flagship Wealth Advisors LLC bought a new stake in shares of Trane Technologies in the 4th quarter worth approximately $37,000. Terra Alpha Investments LLC purchased a new position in shares of Trane Technologies during the fourth quarter valued at approximately $4,393,000. Parallel Advisors LLC raised its holdings in shares of Trane Technologies by 5.8% during the fourth quarter. Parallel Advisors LLC now owns 2,918 shares of the company’s stock valued at $1,078,000 after acquiring an additional 161 shares in the last quarter. Finally, Cibc World Markets Corp lifted its stake in Trane Technologies by 15.8% in the fourth quarter. Cibc World Markets Corp now owns 35,515 shares of the company’s stock worth $13,117,000 after acquiring an additional 4,844 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity

In other news, SVP Mairead Magner sold 198 shares of the stock in a transaction 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 transaction, the senior vice president now directly owns 13,401 shares of the company’s stock, valued at $4,792,331.61. This represents a 1.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO David S. Regnery sold 2,754 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total value of $984,114.36. Following the completion of the transaction, the chief executive officer now owns 132,969 shares in the company, 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. Insiders have sold a total of 7,234 shares of company stock valued at $2,588,102 over the last ninety days. 0.38% of the stock is currently owned by corporate insiders.

Trane Technologies Stock Performance

Shares of TT stock opened at $350.28 on Thursday. The company has a market capitalization of $78.56 billion, a price-to-earnings ratio of 31.14, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. Trane Technologies plc has a one year low of $286.32 and a one year high of $422.00. The company’s 50-day moving average is $362.58 and its 200 day moving average is $379.83.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Thursday, January 30th. The company reported $2.61 EPS for the quarter, beating analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. Sell-side analysts expect that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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 represents a $3.76 annualized dividend and a dividend yield of 1.07%. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s payout ratio is currently 33.42%.

Wall Street Analyst Weigh In

TT has been the subject of several research reports. Barclays decreased their price objective on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a report on Monday, March 10th. UBS Group lowered their price objective 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. Northcoast Research assumed coverage on Trane Technologies in a report on Friday, November 22nd. They set a “buy” rating and a $500.00 target price on the stock. Citigroup lowered 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. Finally, JPMorgan Chase & Co. upped their price target on Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. One research 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.com, the stock presently has an average rating of “Hold” and an average price target 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.