Jennison Associates LLC Sells 560 Shares of Trane Technologies plc (NYSE:TT)

Jennison Associates LLC cut its stake in shares of Trane Technologies plc (NYSE:TT) by 14.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,290 shares of the company’s stock after selling 560 shares during the quarter. Jennison Associates LLC’s holdings in Trane Technologies were worth $1,215,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Global Wealth Strategies & Associates purchased a new stake in shares of Trane Technologies during the fourth quarter valued at $26,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Trane Technologies during the third quarter valued at $27,000. DT Investment Partners LLC purchased a new stake in shares of Trane Technologies during the third quarter valued at $36,000. Sound Income Strategies LLC boosted its position in shares of Trane Technologies by 1,314.3% during the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after buying an additional 92 shares during the last quarter. Finally, Pittenger & Anderson Inc. purchased a new stake in shares of Trane Technologies during the third quarter valued at $39,000. 82.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 876 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.42, for a total value of $313,099.92. Following the sale, the chief financial officer now directly owns 63,841 shares in the company, valued at $22,818,050.22. The trade was a 1.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Mairead Magner sold 198 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total transaction of $70,806.78. Following the completion of the sale, the senior vice president now owns 13,401 shares in the company, valued at approximately $4,792,331.61. This trade represents a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,157 shares of company stock worth $3,168,885. Insiders own 0.38% of the company’s stock.

Trane Technologies Stock Down 0.2 %

Shares of TT stock opened at $356.94 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. The company has a market capitalization of $80.32 billion, a price-to-earnings ratio of 31.73, a PEG ratio of 2.18 and a beta of 1.05. The company’s fifty day moving average price is $386.03 and its 200-day moving average price is $377.10. Trane Technologies plc has a one year low of $265.37 and a one year high of $422.00.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results 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 net margin of 12.94% and a return on equity of 35.37%. Sell-side analysts expect that Trane Technologies plc will post 12.79 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a $0.94 dividend. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies’s payout ratio is currently 29.87%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Barclays raised their target price on Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. JPMorgan Chase & Co. raised their target price on Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Royal Bank of Canada raised their target price 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. Robert W. Baird dropped their target price on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Finally, Melius Research reissued a “hold” rating and issued a $398.00 target price on shares of Trane Technologies in a research report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Trane Technologies presently has a consensus rating of “Hold” and an average price target of $415.25.

Trane Technologies 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.