Aster Capital Management DIFC Ltd Lowers Stock Holdings in Trane Technologies plc (NYSE:TT)

Aster Capital Management DIFC Ltd lessened its position in shares of Trane Technologies plc (NYSE:TT) by 10.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,586 shares of the company’s stock after selling 185 shares during the period. Aster Capital Management DIFC Ltd’s holdings in Trane Technologies were worth $586,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of TT. Norges Bank bought a new stake in Trane Technologies during the fourth quarter valued at $1,117,816,000. Raymond James Financial Inc. bought a new stake in shares of Trane Technologies during the 4th quarter valued at about $611,322,000. Bank Julius Baer & Co. Ltd Zurich increased its position in shares of Trane Technologies by 455.2% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 427,226 shares of the company’s stock worth $167,977,000 after purchasing an additional 350,277 shares during the last quarter. Nordea Investment Management AB raised its stake in Trane Technologies by 42.9% in the fourth 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 in the last quarter. Finally, Caisse Des Depots ET Consignations bought a new stake in Trane Technologies during the fourth quarter valued at approximately $98,560,000. 82.97% of the stock is owned by institutional investors.

Trane Technologies Stock Down 3.9 %

Trane Technologies stock opened at $318.18 on Monday. The stock has a market cap of $71.36 billion, a PE ratio of 28.28, a price-to-earnings-growth 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. The stock has a fifty day moving average of $351.63 and a 200 day moving average of $379.00. Trane Technologies plc has a one year low of $286.32 and a one year high of $422.00.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. As a group, sell-side analysts predict that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.76 annualized dividend and a yield of 1.18%. Trane Technologies’s dividend payout ratio (DPR) is presently 33.42%.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, CFO Christopher J. Kuehn sold 876 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total transaction of $313,099.92. Following the sale, the chief financial officer now directly owns 63,841 shares of the company’s stock, valued at $22,818,050.22. This trade represents a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Mairead Magner sold 198 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total value of $70,806.78. Following the completion of 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,234 shares of company stock valued at $2,588,102. Company insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Royal Bank of Canada lifted their price objective on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a report on Friday, January 3rd. Melius cut Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective for the company. in a report on Tuesday, January 28th. Wells Fargo & Company decreased their price objective on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. Citigroup cut their target price on Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Finally, Melius Research restated a “hold” rating and issued a $398.00 price objective on shares of Trane Technologies in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Trane Technologies has an average rating of “Hold” and a consensus price target of $413.69.

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.