Trane Technologies plc (NYSE:TT) Stock Holdings Lowered by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC reduced its holdings in Trane Technologies plc (NYSE:TT) by 2.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,924 shares of the company’s stock after selling 2,914 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Trane Technologies were worth $43,925,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. V Square Quantitative Management LLC raised its holdings in shares of Trane Technologies by 6.3% in the 4th quarter. V Square Quantitative Management LLC now owns 9,500 shares of the company’s stock worth $3,509,000 after purchasing an additional 565 shares in the last quarter. Figure 8 Investment Strategies LLC acquired a new stake in shares of Trane Technologies during the fourth quarter valued at approximately $5,164,000. Asset Management One Co. Ltd. lifted its position in shares of Trane Technologies by 5.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 94,699 shares of the company’s stock valued at $35,373,000 after acquiring an additional 4,829 shares in the last quarter. G&S Capital LLC lifted its position in shares of Trane Technologies by 1.1% in the 4th quarter. G&S Capital LLC now owns 6,815 shares of the company’s stock valued at $2,517,000 after acquiring an additional 76 shares in the last quarter. Finally, Avestar Capital LLC lifted its position in shares of Trane Technologies by 5.9% in the 4th quarter. Avestar Capital LLC now owns 1,801 shares of the company’s stock valued at $665,000 after acquiring an additional 101 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Stock Performance

Shares of TT opened at $363.58 on Friday. The company’s fifty day moving average is $379.41 and its 200-day moving average is $377.91. Trane Technologies plc has a 12 month low of $270.50 and a 12 month high of $422.00. The firm has a market cap of $81.81 billion, a price-to-earnings ratio of 32.32, a price-to-earnings-growth ratio of 2.44 and a beta of 1.05. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT) last posted its 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%. Equities analysts expect that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors 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 is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 dividend on an annualized basis and a yield of 1.03%. Trane Technologies’s dividend payout ratio (DPR) is presently 29.87%.

Insider Activity at Trane Technologies

In other Trane Technologies news, CFO Christopher J. Kuehn sold 770 shares of the stock in a transaction on Monday, February 10th. The shares were 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. This represents a 1.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Mairead Magner sold 4,329 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the completion of the sale, the senior vice president now directly owns 12,893 shares of the company’s stock, valued at approximately $5,363,488. This trade represents a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,563 shares of company stock worth $4,388,966. 0.38% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

TT has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their price target on shares of Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Robert W. Baird cut their target price on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Barclays increased their target price on shares of Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. UBS Group cut their target price on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Finally, Wells Fargo & Company cut their target price on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Trane Technologies presently has a consensus rating of “Hold” and a consensus 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.