TD Asset Management Inc lowered its holdings in shares of Trane Technologies plc (NYSE:TT – Free Report) by 16.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 638,398 shares of the company’s stock after selling 127,777 shares during the quarter. TD Asset Management Inc owned 0.29% of Trane Technologies worth $248,465,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. 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 worth $7,791,909,000 after buying an additional 192,270 shares in the last quarter. 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 worth $6,550,975,000 after buying an additional 1,433,563 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Trane Technologies by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 5,071,072 shares of the company’s stock worth $1,964,896,000 after buying an additional 14,179 shares in the last quarter. Norges Bank purchased a new position in shares of Trane Technologies in the 4th quarter worth $1,163,124,000. Finally, 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 worth $1,010,419,000 after buying an additional 72,998 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.
Trane Technologies Trading Up 1.5%
Shares of TT opened at $465.72 on Thursday. Trane Technologies plc has a 1-year low of $348.06 and a 1-year high of $503.47. The company has a 50-day moving average of $457.72 and a 200 day moving average of $430.83. The firm has a market capitalization of $102.95 billion, a price-to-earnings ratio of 36.02, a PEG ratio of 2.11 and a beta of 1.20. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77.
Trane Technologies Dividend Announcement
The firm also recently declared 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. The ex-dividend date is Friday, June 5th. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. Trane Technologies’s payout ratio is currently 32.48%.
Insider Activity
In other news, CFO Christopher J. Kuehn sold 8,619 shares of Trane Technologies stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $450.00, for a total value of $3,878,550.00. Following the transaction, the chief financial officer owned 60,576 shares of the company’s stock, valued at $27,259,200. The trade was a 12.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald E. Simmons sold 4,593 shares of Trane Technologies stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the completion of the transaction, the insider directly owned 3,819 shares in the company, valued at approximately $1,909,500. The trade was a 54.60% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 53,654 shares of company stock worth $23,269,523 in the last quarter. 0.43% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
A number of brokerages have commented on TT. Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a research note on Monday, April 20th. Evercore initiated coverage on shares of Trane Technologies in a research note on Monday, April 13th. They issued an “outperform” rating and a $535.00 price objective for the company. Royal Bank Of Canada raised their target price on shares of Trane Technologies from $440.00 to $501.00 and gave the stock a “sector perform” rating in a report on Friday, May 1st. KeyCorp raised their target price on shares of Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Finally, Citigroup raised their target price on shares of Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Trane Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $506.56.
View Our Latest Report on Trane Technologies
About Trane Technologies
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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