Trane Technologies plc (NYSE:TT) Shares Sold by Avalon Trust Co

Avalon Trust Co lowered its position in shares of Trane Technologies plc (NYSE:TT) by 0.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 8,820 shares of the company’s stock after selling 50 shares during the quarter. Avalon Trust Co’s holdings in Trane Technologies were worth $3,258,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in shares of Trane Technologies in the 4th quarter valued at about $611,322,000. Massachusetts Financial Services Co. MA increased its stake in Trane Technologies by 35.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock worth $991,460,000 after buying an additional 671,691 shares in the last quarter. FMR LLC increased its stake in Trane Technologies by 4.0% during the 3rd quarter. FMR LLC now owns 10,337,672 shares of the company’s stock worth $4,018,563,000 after buying an additional 397,537 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its stake in Trane Technologies by 455.2% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 427,226 shares of the company’s stock worth $167,977,000 after buying an additional 350,277 shares in the last quarter. Finally, Nordea Investment Management AB boosted its holdings in shares of Trane Technologies by 42.9% during the 4th quarter. Nordea Investment Management AB now owns 978,275 shares of the company’s stock worth $361,874,000 after purchasing an additional 293,916 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $348.48 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The company has a market cap of $78.16 billion, a P/E ratio of 30.98, a PEG ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a 52 week low of $286.32 and a 52 week high of $422.00. The company has a 50-day moving average price of $364.65 and a 200 day moving average price of $379.99.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Thursday, January 30th. The company reported $2.61 EPS for the quarter, topping the consensus estimate of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. Research analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be given a dividend of $0.94 per share. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 annualized dividend and a dividend yield of 1.08%. The ex-dividend date is Friday, March 7th. Trane Technologies’s payout ratio is currently 33.42%.

Insider Buying and Selling

In other news, CFO Christopher J. Kuehn sold 876 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total transaction of $313,099.92. Following the completion of the sale, the chief financial officer now directly owns 63,841 shares in the company, valued at $22,818,050.22. This represents a 1.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO David S. Regnery sold 2,754 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total value of $984,114.36. Following the sale, the chief executive officer now owns 132,969 shares of the company’s stock, valued at approximately $47,515,142.46. The trade was a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,234 shares of company stock worth $2,588,102 in the last ninety days. Insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on TT. Melius Research reiterated a “hold” rating and issued a $398.00 price objective on shares of Trane Technologies in a report on Tuesday, January 28th. JPMorgan Chase & Co. upped 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. UBS Group cut their price objective on Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Melius lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price on the stock. in a report on Tuesday, January 28th. Finally, Royal Bank of Canada raised their price objective on Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $413.69.

Trane Technologies Company Profile

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.