Ninety One North America Inc. Sells 7,270 Shares of Trane Technologies plc (NYSE:TT)

Ninety One North America Inc. trimmed its position in Trane Technologies plc (NYSE:TT) by 40.2% in the 4th quarter, Holdings Channel reports. The firm owned 10,821 shares of the company’s stock after selling 7,270 shares during the quarter. Ninety One North America Inc.’s holdings in Trane Technologies were worth $2,639,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Keel Point LLC boosted its holdings in Trane Technologies by 3.0% in the 4th quarter. Keel Point LLC now owns 1,326 shares of the company’s stock valued at $323,000 after purchasing an additional 39 shares during the period. Rosenberg Matthew Hamilton lifted its holdings in shares of Trane Technologies by 27.2% during the 4th quarter. Rosenberg Matthew Hamilton now owns 192 shares of the company’s stock worth $47,000 after acquiring an additional 41 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Trane Technologies by 2.3% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,847 shares of the company’s stock worth $450,000 after acquiring an additional 42 shares during the last quarter. Cedrus LLC lifted its holdings in shares of Trane Technologies by 2.6% during the 4th quarter. Cedrus LLC now owns 1,669 shares of the company’s stock worth $407,000 after acquiring an additional 43 shares during the last quarter. Finally, Certuity LLC lifted its holdings in shares of Trane Technologies by 3.1% during the 3rd quarter. Certuity LLC now owns 1,549 shares of the company’s stock worth $314,000 after acquiring an additional 46 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Evan M. Turtz sold 2,821 shares of Trane Technologies 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 transaction, 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Evan M. Turtz sold 2,821 shares of Trane Technologies 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 transaction, 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Christopher J. Kuehn sold 2,767 shares of Trane Technologies stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $268.31, for a total transaction of $742,413.77. Following the transaction, the chief financial officer now owns 54,788 shares of the company’s stock, valued at $14,700,168.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,874 shares of company stock worth $8,462,825. Insiders own 0.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Stephens lifted their price objective on shares of Trane Technologies from $235.00 to $280.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. Barclays lifted their price objective on shares of Trane Technologies from $286.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Citigroup lifted their price objective on shares of Trane Technologies from $309.00 to $355.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Royal Bank of Canada lifted their target price on shares of Trane Technologies from $231.00 to $246.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. Finally, The Goldman Sachs Group lifted their target price on shares of Trane Technologies from $253.00 to $287.00 and gave the stock a “neutral” rating in a research report on Monday, February 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Trane Technologies has a consensus rating of “Hold” and an average price target of $251.83.

Trane Technologies Stock Down 0.4 %

TT traded down $1.21 on Thursday, hitting $291.88. The company had a trading volume of 234,486 shares, compared to its average volume of 991,679. 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 52-week low of $162.04 and a 52-week high of $306.98. The stock has a fifty day simple moving average of $289.02 and a 200-day simple moving average of $250.01. The firm has a market capitalization of $66.28 billion, a P/E ratio of 33.34, a P/E/G ratio of 2.49 and a beta of 1.05.

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

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a dividend of $0.84 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $3.36 annualized dividend and a dividend yield of 1.15%. Trane Technologies’s payout ratio is 38.23%.

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.