Fullerton Fund Management Co Ltd. Has $25.41 Million Position in Trane Technologies plc (NYSE:TT)

Fullerton Fund Management Co Ltd. decreased its holdings in shares of Trane Technologies plc (NYSE:TT) by 0.9% in the 4th quarter, HoldingsChannel reports. The firm owned 68,794 shares of the company’s stock after selling 604 shares during the period. Trane Technologies makes up approximately 0.9% of Fullerton Fund Management Co Ltd.’s holdings, making the stock its 26th largest holding. Fullerton Fund Management Co Ltd.’s holdings in Trane Technologies were worth $25,409,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC grew its holdings in Trane Technologies by 1.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 59,837 shares of the company’s stock valued at $23,260,000 after buying an additional 745 shares in the last quarter. ST Germain D J Co. Inc. grew its stake in shares of Trane Technologies by 9.1% in the fourth quarter. ST Germain D J Co. Inc. now owns 4,053 shares of the company’s stock valued at $1,497,000 after acquiring an additional 337 shares in the last quarter. Hilltop National Bank increased its position in Trane Technologies by 0.7% during the fourth quarter. Hilltop National Bank now owns 6,140 shares of the company’s stock worth $2,268,000 after acquiring an additional 40 shares during the period. Czech National Bank raised its stake in Trane Technologies by 6.1% in the 4th quarter. Czech National Bank now owns 48,790 shares of the company’s stock worth $18,021,000 after purchasing an additional 2,819 shares in the last quarter. Finally, Fiduciary Alliance LLC acquired a new position in shares of Trane Technologies during the 4th quarter worth approximately $838,000. 82.97% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on TT shares. Hsbc Global Res upgraded Trane Technologies from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 25th. Stephens upgraded Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 price target on the stock in a research report on Thursday, May 1st. UBS Group cut their price objective on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a research report on Friday, January 31st. 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 research report on Tuesday, January 28th. Finally, Robert W. Baird lifted their price objective on shares of Trane Technologies from $360.00 to $396.00 and gave the company a “neutral” rating in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $421.07.

Trane Technologies Stock Performance

NYSE:TT opened at $404.32 on Friday. The stock’s 50-day moving average is $350.05 and its 200-day moving average is $372.45. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $422.00. The stock has a market cap of $90.17 billion, a P/E ratio of 35.94, a price-to-earnings-growth ratio of 2.50 and a beta of 1.14.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.25. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The business had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.46 billion. During the same period in the prior year, the business posted $1.94 earnings per share. Trane Technologies’s quarterly revenue was up 11.2% on a year-over-year basis. Equities research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date is Friday, June 6th. Trane Technologies’s dividend payout ratio is currently 31.28%.

Insider Buying and Selling

In other news, insider Donald E. Simmons sold 3,571 shares of the company’s stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the transaction, the insider now directly owns 3,593 shares of the company’s stock, valued at $1,365,340. This represents a 49.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Evan M. Turtz sold 318 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $358.12, for a total transaction of $113,882.16. Following the completion of the transaction, the senior vice president now directly owns 20,513 shares in the company, valued at $7,346,115.56. This trade represents a 1.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,977 shares of company stock valued at $2,577,061 over the last quarter. Insiders own 0.38% 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.