Mitsubishi UFJ Trust & Banking Corp Sells 94 Shares of Trane Technologies plc (NYSE:TT)

Mitsubishi UFJ Trust & Banking Corp reduced its stake in Trane Technologies plc (NYSE:TT) by 0.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 154,239 shares of the company’s stock after selling 94 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Trane Technologies were worth $56,968,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of TT. Tidal Investments LLC raised its position in shares of Trane Technologies by 22.2% in the 3rd quarter. Tidal Investments LLC now owns 15,827 shares of the company’s stock worth $6,152,000 after acquiring an additional 2,874 shares in the last quarter. Synovus Financial Corp raised its holdings in Trane Technologies by 16.8% in the third quarter. Synovus Financial Corp now owns 8,828 shares of the company’s stock worth $3,431,000 after purchasing an additional 1,271 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in Trane Technologies during the fourth quarter valued at $468,000. HB Wealth Management LLC grew its position in shares of Trane Technologies by 14.3% in the 4th quarter. HB Wealth Management LLC now owns 5,689 shares of the company’s stock worth $2,101,000 after buying an additional 711 shares during the period. Finally, Crossmark Global Holdings Inc. grew its position in shares of Trane Technologies by 31.2% in the 4th quarter. Crossmark Global Holdings Inc. now owns 29,057 shares of the company’s stock worth $10,733,000 after buying an additional 6,910 shares during the period. 82.97% of the stock is owned by institutional investors.

Trane Technologies Stock Up 1.8 %

Shares of Trane Technologies stock opened at $363.90 on Wednesday. Trane Technologies plc has a twelve month low of $286.32 and a twelve month high of $422.00. 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 company’s 50 day moving average is $360.50 and its 200 day moving average is $380.25. The company has a market cap of $81.62 billion, a price-to-earnings ratio of 32.35, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share 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 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 given a dividend of $0.94 per share. The ex-dividend date is Friday, March 7th. This represents a $3.76 annualized dividend and a dividend yield of 1.03%. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s dividend payout ratio is presently 33.42%.

Insider Transactions at Trane Technologies

In related news, 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Mairead Magner sold 198 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $4,792,331.61. This represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,234 shares of company stock worth $2,588,102 in the last quarter. Company insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on TT shares. Barclays dropped 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. UBS Group cut their price target on Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Melius cut Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective for the company. in a research note on Tuesday, January 28th. Melius Research reissued a “hold” rating and issued a $398.00 target price on shares of Trane Technologies in a research note on Tuesday, January 28th. Finally, Citigroup lowered their price target 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. 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, the stock currently has an average rating of “Hold” and a consensus target price of $413.69.

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.