Trane Technologies plc (NYSE:TT) Shares Sold by Flputnam Investment Management Co.

Flputnam Investment Management Co. trimmed its stake in shares of Trane Technologies plc (NYSE:TT) by 4.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,393 shares of the company’s stock after selling 676 shares during the quarter. Flputnam Investment Management Co.’s holdings in Trane Technologies were worth $3,266,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Norges Bank acquired a new stake in Trane Technologies in the 4th quarter valued at approximately $526,026,000. Moneta Group Investment Advisors LLC increased its position in Trane Technologies by 109,668.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,963,758 shares of the company’s stock valued at $330,088,000 after acquiring an additional 1,961,969 shares during the period. First Trust Advisors LP increased its position in Trane Technologies by 2,606.5% in the 1st quarter. First Trust Advisors LP now owns 1,081,171 shares of the company’s stock valued at $165,095,000 after acquiring an additional 1,041,224 shares during the period. International Assets Investment Management LLC increased its position in Trane Technologies by 24,670.7% in the 4th quarter. International Assets Investment Management LLC now owns 1,034,423 shares of the company’s stock valued at $252,296,000 after acquiring an additional 1,030,247 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Trane Technologies by 5.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 17,085,662 shares of the company’s stock valued at $3,466,852,000 after acquiring an additional 880,583 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Stock Performance

Trane Technologies stock opened at $295.71 on Wednesday. The firm’s 50 day simple moving average is $288.63 and its 200-day simple moving average is $249.71. The company has a market cap of $67.15 billion, a P/E ratio of 33.64, a price-to-earnings-growth ratio of 2.48 and a beta of 1.05. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.13 and a quick ratio of 0.78. Trane Technologies plc has a fifty-two week low of $162.04 and a fifty-two week high of $306.98.

Trane Technologies (NYSE:TT) last released its earnings results on Thursday, February 1st. The company reported $2.17 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.04. The business had revenue of $4.42 billion for the quarter, compared to the consensus estimate of $4.43 billion. Trane Technologies had a net margin of 11.45% and a return on equity of 32.01%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period last year, the firm posted $1.82 earnings per share. As a group, equities research analysts predict that Trane Technologies plc will post 10.2 EPS for the current year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend is Thursday, June 6th. Trane Technologies’s dividend payout ratio (DPR) is currently 38.23%.

Analyst Upgrades and Downgrades

Several research firms recently commented on TT. Stephens raised their target price on Trane Technologies from $235.00 to $280.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. Barclays lifted their target price on Trane Technologies from $286.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Royal Bank of Canada upped their price target on shares of Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a report on Friday, February 2nd. Wells Fargo & Company lifted their price objective on shares of Trane Technologies from $200.00 to $246.00 and gave the stock an “underweight” rating in a research note on Tuesday, December 19th. Finally, The Goldman Sachs Group lifted their price objective on shares of Trane Technologies from $253.00 to $287.00 and gave the stock a “neutral” rating in a research note on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Trane Technologies presently has an average rating of “Hold” and an average target price of $251.83.

Insider Transactions at Trane Technologies

In related news, SVP Evan M. Turtz sold 2,821 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $288.33, for a total transaction of $813,378.93. Following the completion of the sale, the senior vice president now directly owns 20,729 shares in the company, valued at $5,976,792.57. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Paul A. Camuti sold 508 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $273.34, for a total transaction of $138,856.72. Following the completion of the sale, the executive vice president now directly owns 89,447 shares in the company, valued at $24,449,442.98. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Evan M. Turtz sold 2,821 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $288.33, for a total transaction of $813,378.93. Following the sale, the senior vice president now owns 20,729 shares of the company’s stock, valued at $5,976,792.57. The disclosure for this sale can be found here. Insiders have sold a total of 29,874 shares of company stock valued at $8,462,825 over the last ninety days. Corporate insiders own 0.39% of the company’s stock.

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.