OVERSEA CHINESE BANKING Corp Ltd Sells 10,000 Shares of Trane Technologies plc (NYSE:TT)

OVERSEA CHINESE BANKING Corp Ltd trimmed its stake in shares of Trane Technologies plc (NYSE:TT) by 66.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,000 shares of the company’s stock after selling 10,000 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Trane Technologies were worth $1,847,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of TT. Swedbank AB grew its position in Trane Technologies by 2.8% during the 3rd quarter. Swedbank AB now owns 743,794 shares of the company’s stock worth $289,135,000 after acquiring an additional 20,400 shares during the last quarter. Pathstone Holdings LLC grew its position in Trane Technologies by 9.9% during the 3rd quarter. Pathstone Holdings LLC now owns 41,808 shares of the company’s stock worth $16,252,000 after acquiring an additional 3,766 shares during the last quarter. Caprock Group LLC grew its position in Trane Technologies by 36.3% during the 3rd quarter. Caprock Group LLC now owns 5,264 shares of the company’s stock worth $2,046,000 after acquiring an additional 1,401 shares during the last quarter. West Family Investments Inc. grew its position in shares of Trane Technologies by 17.2% in the 3rd quarter. West Family Investments Inc. now owns 1,072 shares of the company’s stock worth $417,000 after buying an additional 157 shares during the last quarter. Finally, Avior Wealth Management LLC grew its position in shares of Trane Technologies by 18.2% in the 3rd quarter. Avior Wealth Management LLC now owns 1,186 shares of the company’s stock worth $461,000 after buying an additional 183 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Stock Up 1.8 %

Shares of NYSE:TT opened at $350.28 on Thursday. The stock has a fifty day simple moving average of $362.58 and a two-hundred day simple moving average of $379.83. The stock has a market capitalization of $78.56 billion, a price-to-earnings ratio of 31.14, a PEG ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a 12-month low of $286.32 and a 12-month high of $422.00. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. On average, research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.76 annualized dividend and a dividend yield of 1.07%. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s payout ratio is currently 33.42%.

Insider Transactions at Trane Technologies

In related news, SVP Mairead Magner sold 198 shares of Trane Technologies stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total value of $70,806.78. Following the completion of the sale, the senior vice president now owns 13,401 shares of the company’s stock, valued at $4,792,331.61. The trade was a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Christopher J. Kuehn sold 770 shares of Trane Technologies stock in a transaction on Monday, February 10th. The stock was sold at an average price of $358.39, for a total value of $275,960.30. Following the completion of the sale, the chief financial officer now directly owns 62,221 shares of the company’s stock, valued at $22,299,384.19. The trade was a 1.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,234 shares of company stock worth $2,588,102 over the last quarter. 0.38% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Barclays cut their price objective on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. Royal Bank of Canada lifted their price objective on Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. lifted their price objective on Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Melius Research restated a “hold” rating and issued a $398.00 target price on shares of Trane Technologies in a research note on Tuesday, January 28th. Finally, Northcoast Research assumed coverage on Trane Technologies in a research note on Friday, November 22nd. They issued a “buy” rating and a $500.00 target price for the company. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $413.69.

About Trane Technologies

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.