Capital World Investors decreased its holdings in shares of Trane Technologies plc (NYSE:TT – Free Report) by 0.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,024,738 shares of the company’s stock after selling 1,929 shares during the quarter. Capital World Investors’ holdings in Trane Technologies were worth $398,867,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Aptus Capital Advisors LLC raised its stake in Trane Technologies by 169.8% during the third quarter. Aptus Capital Advisors LLC now owns 14,738 shares of the company’s stock worth $6,219,000 after acquiring an additional 9,276 shares in the last quarter. Nordea Investment Management AB raised its stake in Trane Technologies by 2.9% during the fourth quarter. Nordea Investment Management AB now owns 2,586,506 shares of the company’s stock worth $1,010,419,000 after acquiring an additional 72,998 shares in the last quarter. Farther Finance Advisors LLC raised its stake in Trane Technologies by 64.0% during the fourth quarter. Farther Finance Advisors LLC now owns 7,478 shares of the company’s stock worth $2,911,000 after acquiring an additional 2,917 shares in the last quarter. Varma Mutual Pension Insurance Co raised its stake in Trane Technologies by 9.0% during the third quarter. Varma Mutual Pension Insurance Co now owns 43,811 shares of the company’s stock worth $18,486,000 after acquiring an additional 3,600 shares in the last quarter. Finally, Dara Capital US Inc. acquired a new position in Trane Technologies during the fourth quarter worth about $966,000. Institutional investors and hedge funds own 82.97% of the company’s stock.
Insider Activity at Trane Technologies
In related news, insider Donald E. Simmons sold 4,593 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total value of $2,296,500.00. Following the sale, the insider directly owned 3,819 shares in the company, valued at $1,909,500. This represents a 54.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher J. Kuehn sold 8,619 shares of the company’s 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 completion of the sale, the chief financial officer owned 60,576 shares in the company, valued at $27,259,200. The trade was a 12.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.43% of the company’s stock.
Analyst Ratings Changes
Read Our Latest Research Report on TT
Trane Technologies Stock Performance
NYSE:TT opened at $458.72 on Tuesday. The stock has a market cap of $101.40 billion, a P/E ratio of 35.48, a price-to-earnings-growth ratio of 2.10 and a beta of 1.20. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. The stock’s 50-day moving average is $459.88 and its 200-day moving average is $431.82. Trane Technologies plc has a 1-year low of $348.06 and a 1-year high of $503.47.
Trane Technologies (NYSE:TT – Get Free Report) last announced its 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 return on equity of 35.55% and a net margin of 13.41%.The business had revenue of $4.97 billion for the quarter, compared to analysts’ expectations of $4.81 billion. During the same period in the prior year, the business posted $2.45 earnings per share. The firm’s revenue was up 6.0% on a year-over-year basis. Equities research analysts anticipate that Trane Technologies plc will post 14.88 earnings per share for the current year.
Trane Technologies Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be issued a $1.05 dividend. The ex-dividend date is Friday, September 4th. This represents a $4.20 annualized dividend and a yield of 0.9%. Trane Technologies’s dividend payout ratio is presently 32.48%.
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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