Saranac Partners Ltd increased its stake in shares of Trane Technologies plc (NYSE:TT – Free Report) by 27.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,935 shares of the company’s stock after buying an additional 3,445 shares during the quarter. Trane Technologies comprises 2.4% of Saranac Partners Ltd’s holdings, making the stock its 20th largest position. Saranac Partners Ltd’s holdings in Trane Technologies were worth $6,216,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in the stock. Aptus Capital Advisors LLC boosted its holdings in Trane Technologies by 169.8% in the 3rd quarter. Aptus Capital Advisors LLC now owns 14,738 shares of the company’s stock valued at $6,219,000 after purchasing an additional 9,276 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Trane Technologies during the 3rd quarter valued at approximately $6,571,000. Boston Common Asset Management LLC purchased a new stake in shares of Trane Technologies during the 3rd quarter valued at approximately $9,546,000. Compass Wealth Management LLC lifted its holdings in Trane Technologies by 3,785.4% in the third quarter. Compass Wealth Management LLC now owns 27,198 shares of the company’s stock valued at $11,476,000 after acquiring an additional 26,498 shares during the last quarter. Finally, Nordea Investment Management AB grew its position in Trane Technologies by 2.9% in 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 during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.
Trane Technologies Trading Down 2.7%
TT opened at $448.04 on Wednesday. Trane Technologies plc has a 52 week low of $348.06 and a 52 week high of $503.47. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.46. The business has a fifty day simple moving average of $451.15 and a 200-day simple moving average of $429.24. The firm has a market cap of $99.04 billion, a P/E ratio of 34.65, a P/E/G ratio of 2.12 and a beta of 1.25.
Trane Technologies Announces Dividend
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 given a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, June 5th. Trane Technologies’s dividend payout ratio is currently 32.48%.
Insider Buying and Selling at Trane Technologies
In other news, insider Donald E. Simmons sold 4,593 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $500.00, for a total value of $2,296,500.00. Following the completion of the transaction, the insider owned 3,819 shares of the company’s stock, valued at approximately $1,909,500. This trade represents a 54.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher J. Kuehn sold 8,619 shares of the firm’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 transaction of $3,878,550.00. Following the completion of the transaction, the chief financial officer directly owned 60,576 shares of the company’s stock, valued at approximately $27,259,200. The trade was a 12.46% decrease in their position. 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. In the last three months, insiders sold 53,654 shares of company stock worth $23,269,523. 0.14% of the stock is owned by company insiders.
Analysts Set New Price Targets
A number of research firms have commented on TT. Oppenheimer lifted their target price on Trane Technologies from $460.00 to $468.00 and gave the company an “outperform” rating in a research report on Friday, January 30th. Evercore initiated coverage on Trane Technologies in a research report on Monday, April 13th. They set an “outperform” rating and a $535.00 price objective for the company. Wells Fargo & Company boosted their price objective on shares of Trane Technologies from $375.00 to $400.00 and gave the company an “underweight” rating in a report on Friday, January 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Trane Technologies in a research report on Monday, April 20th. Finally, BNP Paribas Exane initiated coverage on shares of Trane Technologies in a research report on Tuesday, April 14th. They set an “outperform” rating and a $550.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $506.56.
Get Our Latest Research Report on TT
Trane Technologies Company 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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