Employees Provident Fund Board bought a new stake in shares of Trane Technologies plc (NYSE:TT – Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 49,000 shares of the company’s stock, valued at approximately $19,071,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TT. Tucker Asset Management LLC acquired a new stake in Trane Technologies during the fourth quarter worth $25,000. Hilton Head Capital Partners LLC purchased a new position in shares of Trane Technologies in the 4th quarter valued at about $32,000. JPL Wealth Management LLC acquired a new stake in Trane Technologies during the third quarter worth approximately $32,000. Kemnay Advisory Services Inc. acquired a new stake in Trane Technologies during the 4th quarter worth $34,000. Finally, Creative Financial Designs Inc. ADV increased its position in shares of Trane Technologies by 119.5% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 90 shares of the company’s stock worth $35,000 after purchasing an additional 49 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.
Trane Technologies Trading Up 0.1%
NYSE TT opened at $483.88 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10. The company has a 50-day simple moving average of $467.88 and a 200-day simple moving average of $435.22. The firm has a market capitalization of $106.96 billion, a PE ratio of 37.42, a price-to-earnings-growth ratio of 2.23 and a beta of 1.20. Trane Technologies plc has a one year low of $348.06 and a one year high of $503.47.
Trane Technologies Announces Dividend
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 given a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, September 4th. Trane Technologies’s dividend payout ratio is currently 32.48%.
Analysts Set New Price Targets
Several brokerages have issued reports on TT. Citigroup boosted their price objective on shares of Trane Technologies from $525.00 to $570.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Sanford C. Bernstein assumed coverage on shares of Trane Technologies in a report on Tuesday, June 9th. They set an “outperform” rating and a $550.00 target price for the company. Barclays raised their price target on Trane Technologies from $507.00 to $585.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. BNP Paribas Exane started coverage on shares of Trane Technologies in a research report on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their price target on shares of Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $509.12.
Get Our Latest Research Report on TT
Insider Activity at Trane Technologies
In related 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 transaction of $2,296,500.00. Following the transaction, the insider owned 3,819 shares in the company, valued at $1,909,500. This trade represents a 54.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 Trane Technologies stock in a transaction 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 in the company, valued at approximately $27,259,200. This trade represents a 12.46% 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. Company insiders own 0.43% of the company’s stock.
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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