VIRGINIA RETIREMENT SYSTEMS ET Al grew its position in Trane Technologies plc (NYSE:TT – Free Report) by 24.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 8,600 shares of the company’s stock after purchasing an additional 1,700 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Trane Technologies were worth $3,347,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Trane Technologies by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 20,020,321 shares of the company’s stock valued at $7,791,909,000 after buying an additional 192,270 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Trane Technologies by 10.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company’s stock valued at $6,550,975,000 after buying an additional 1,433,563 shares during the period. Nordea Investment Management AB grew its stake in shares of Trane Technologies by 2.9% in the 4th quarter. Nordea Investment Management AB now owns 2,586,506 shares of the company’s stock valued at $1,010,419,000 after buying an additional 72,998 shares during the period. Bank of America Corp DE grew its stake in shares of Trane Technologies by 9.2% in the 3rd quarter. Bank of America Corp DE now owns 2,422,690 shares of the company’s stock valued at $1,022,278,000 after buying an additional 203,766 shares during the period. Finally, Legal & General Group Plc grew its stake in shares of Trane Technologies by 2.4% in the 3rd quarter. Legal & General Group Plc now owns 1,880,221 shares of the company’s stock valued at $793,378,000 after buying an additional 44,243 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.
Insider Activity
In other news, CEO David S. Regnery sold 36,045 shares of the firm’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $422.69, for a total value of $15,235,861.05. Following the sale, the chief executive officer directly owned 96,948 shares in the company, valued at approximately $40,978,950.12. This trade represents a 27.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Donald E. Simmons sold 4,593 shares of the firm’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the completion of the sale, the insider owned 3,819 shares in the company, valued at $1,909,500. The trade was a 54.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 53,654 shares of company stock valued at $23,269,523 over the last quarter. Company insiders own 0.14% of the company’s stock.
Trane Technologies Stock Performance
Trane Technologies (NYSE:TT – Get Free Report) last issued its quarterly earnings results on Friday, May 1st. The company reported $2.63 EPS for the quarter, beating the consensus estimate of $2.53 by $0.10. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The company had revenue of $4.97 billion during the quarter, compared to analysts’ expectations of $4.81 billion. During the same quarter last year, the company posted $2.45 EPS. The firm’s revenue was up 6.0% compared to the same quarter last year. On average, research analysts predict that Trane Technologies plc will post 14.87 EPS for the current fiscal year.
Trane Technologies Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be issued a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, June 5th. Trane Technologies’s dividend payout ratio (DPR) is presently 32.48%.
Analyst Upgrades and Downgrades
TT has been the subject of several analyst reports. JPMorgan Chase & Co. increased their price target on shares of Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a research note on Thursday. Wells Fargo & Company increased their price objective on shares of Trane Technologies from $375.00 to $400.00 and gave the stock an “underweight” rating in a research report on Friday, January 30th. Citigroup increased their price objective on shares of Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Oppenheimer increased their price objective on shares of Trane Technologies from $460.00 to $468.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. Finally, Barclays increased their price objective on shares of Trane Technologies from $507.00 to $585.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $506.56.
Check Out Our Latest Research Report on Trane Technologies
Trane Technologies Profile
Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.
In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.
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