Elo Mutual Pension Insurance Co Trims Stake in Trane Technologies plc (NYSE:TT)

Elo Mutual Pension Insurance Co lessened its holdings in Trane Technologies plc (NYSE:TT) by 4.3% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,594 shares of the company’s stock after selling 918 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Trane Technologies were worth $7,606,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Global Wealth Strategies & Associates bought a new stake in shares of Trane Technologies during the 4th quarter valued at about $26,000. Sound Income Strategies LLC raised its stake in Trane Technologies by 1,314.3% in the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after purchasing an additional 92 shares in the last quarter. Flagship Wealth Advisors LLC bought a new stake in Trane Technologies during the fourth quarter valued at approximately $37,000. Golden State Wealth Management LLC purchased a new position in Trane Technologies in the 4th quarter worth approximately $39,000. Finally, Legacy Investment Solutions LLC purchased a new position in Trane Technologies in the 3rd quarter worth approximately $44,000. Institutional investors own 82.97% of the company’s stock.

Insider Activity

In other news, CEO David S. Regnery sold 2,754 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total value of $984,114.36. Following the sale, the chief executive officer now directly owns 132,969 shares of the company’s stock, valued at $47,515,142.46. This represents a 2.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Mairead Magner sold 198 shares of Trane Technologies stock in a transaction dated Tuesday, February 4th. The shares were 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 approximately $4,792,331.61. This trade represents a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,234 shares of company stock valued at $2,588,102. Corporate insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on TT. Wells Fargo & Company dropped their price objective on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a report on Friday, January 31st. UBS Group dropped their price target on 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 Research reissued a “hold” rating and set a $398.00 price objective on shares of Trane Technologies in a report on Tuesday, January 28th. Barclays cut their target price on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. Finally, Royal Bank of Canada lifted their price target on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research note on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $413.69.

Trane Technologies Stock Down 3.2 %

NYSE TT opened at $352.29 on Thursday. Trane Technologies plc has a 1 year low of $286.32 and a 1 year high of $422.00. The stock has a market capitalization of $79.01 billion, a PE ratio of 31.31, a PEG 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. The business’s 50-day moving average is $359.83 and its 200 day moving average is $380.06.

Trane Technologies (NYSE:TT) last issued 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%. Sell-side analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be given a $0.94 dividend. 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. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies’s dividend payout ratio (DPR) is currently 33.42%.

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.