Trane Technologies plc (NYSE:TT) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered its holdings in shares of Trane Technologies plc (NYSE:TT) by 7.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,314,109 shares of the company’s stock after selling 1,162,872 shares during the period. JPMorgan Chase & Co. owned 6.36% of Trane Technologies worth $5,286,917,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Trane Technologies by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 19,235,570 shares of the company’s stock valued at $7,104,658,000 after buying an additional 152,353 shares during the period. State Street Corp increased its stake in shares of Trane Technologies by 0.8% during the third quarter. State Street Corp now owns 9,769,161 shares of the company’s stock worth $3,797,565,000 after acquiring an additional 77,830 shares during the period. Geode Capital Management LLC raised its holdings in Trane Technologies by 1.4% during the third 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Trane Technologies by 0.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,142,081 shares of the company’s stock valued at $832,691,000 after purchasing an additional 20,151 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in Trane Technologies in the 4th quarter valued at approximately $611,322,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Trading Down 3.2 %

Shares of TT stock opened at $352.29 on Thursday. The company has a market capitalization of $79.01 billion, a price-to-earnings ratio of 31.31, a PEG ratio of 2.50 and a beta of 1.08. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The firm has a 50-day moving average price of $359.83 and a 200 day moving average price of $380.06. Trane Technologies plc has a twelve month low of $286.32 and a twelve month high of $422.00.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. Research analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be paid a $0.94 dividend. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 annualized dividend and a yield of 1.07%. The ex-dividend date is Friday, March 7th. Trane Technologies’s dividend payout ratio is presently 33.42%.

Insider Buying and Selling

In other news, CEO David S. Regnery sold 2,754 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total transaction of $984,114.36. Following the completion of the sale, the chief executive officer now directly owns 132,969 shares of the company’s stock, valued at $47,515,142.46. The trade was a 2.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Christopher J. Kuehn sold 770 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $358.39, for a total value of $275,960.30. Following the completion of the transaction, the chief financial officer now directly owns 62,221 shares in the company, valued at $22,299,384.19. This trade represents a 1.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,234 shares of company stock worth $2,588,102. 0.38% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Melius Research reissued a “hold” rating and issued a $398.00 price target on shares of Trane Technologies in a report on Tuesday, January 28th. JPMorgan Chase & Co. boosted their target price on shares of Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Wells Fargo & Company cut their price target 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 decreased their price objective on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Finally, Melius cut shares of 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. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $413.69.

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.