Trillium Asset Management LLC Sells 3,303 Shares of Trane Technologies plc (NYSE:TT)

Trillium Asset Management LLC cut its holdings in Trane Technologies plc (NYSE:TT) by 3.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 103,722 shares of the company’s stock after selling 3,303 shares during the period. Trane Technologies makes up about 1.0% of Trillium Asset Management LLC’s portfolio, making the stock its 24th biggest holding. Trillium Asset Management LLC’s holdings in Trane Technologies were worth $38,310,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in TT. Raymond James Financial Inc. bought a new stake in shares of Trane Technologies in the 4th quarter worth about $611,322,000. Massachusetts Financial Services Co. MA grew its holdings in Trane Technologies by 35.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock valued at $991,460,000 after purchasing an additional 671,691 shares during the last quarter. FMR LLC grew its holdings in Trane Technologies by 4.0% during the 3rd quarter. FMR LLC now owns 10,337,672 shares of the company’s stock valued at $4,018,563,000 after purchasing an additional 397,537 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its holdings in Trane Technologies by 455.2% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 427,226 shares of the company’s stock valued at $167,977,000 after purchasing an additional 350,277 shares during the last quarter. Finally, Nordea Investment Management AB grew its holdings in Trane Technologies by 42.9% during the 4th quarter. Nordea Investment Management AB now owns 978,275 shares of the company’s stock valued at $361,874,000 after purchasing an additional 293,916 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Price Performance

Shares of TT opened at $344.27 on Wednesday. The company has a 50 day moving average price of $363.30 and a 200-day moving average price of $380.04. Trane Technologies plc has a fifty-two week low of $286.32 and a fifty-two week high of $422.00. The stock has a market capitalization of $77.22 billion, a PE ratio of 30.60, a PEG ratio of 2.50 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, topping 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%. Equities analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current fiscal 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 $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.09%. The ex-dividend date is Friday, March 7th. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s dividend payout ratio is presently 33.42%.

Insider Activity at Trane Technologies

In other Trane Technologies news, SVP Evan M. Turtz sold 318 shares of Trane Technologies stock in a transaction on Monday, February 10th. The shares were sold at an average price of $358.12, for a total value of $113,882.16. Following the transaction, the senior vice president now directly owns 20,513 shares of the company’s stock, valued at approximately $7,346,115.56. The trade was a 1.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Christopher J. Kuehn sold 770 shares of Trane Technologies stock in a transaction on Monday, February 10th. The stock was sold at an average price of $358.39, for a total transaction 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 represents a 1.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,234 shares of company stock valued at $2,588,102 over the last 90 days. Insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Citigroup cut their price target on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Royal Bank of Canada upped their price target on shares of Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a report on Friday, January 3rd. Melius downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price target on the stock. in a report on Tuesday, January 28th. JPMorgan Chase & Co. upped their target price on shares of Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Finally, Melius Research restated a “hold” rating and issued a $398.00 target price on shares of Trane Technologies in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target 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.