Thrivent Financial for Lutherans Trims Stake in Trane Technologies plc (NYSE:TT)

Thrivent Financial for Lutherans decreased its holdings in shares of Trane Technologies plc (NYSE:TT) by 1.4% in the fourth quarter, HoldingsChannel reports. The fund owned 116,306 shares of the company’s stock after selling 1,637 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Trane Technologies were worth $43,165,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of TT. Axxcess Wealth Management LLC increased its position in Trane Technologies by 176.3% in the fourth quarter. Axxcess Wealth Management LLC now owns 1,445 shares of the company’s stock worth $534,000 after buying an additional 922 shares in the last quarter. Flagship Wealth Advisors LLC purchased a new stake in Trane Technologies in the 4th quarter worth approximately $37,000. Terra Alpha Investments LLC bought a new stake in Trane Technologies during the 4th quarter worth approximately $4,393,000. Parallel Advisors LLC lifted its holdings in Trane Technologies by 5.8% during the fourth quarter. Parallel Advisors LLC now owns 2,918 shares of the company’s stock valued at $1,078,000 after purchasing an additional 161 shares in the last quarter. Finally, Cibc World Markets Corp boosted its position in shares of Trane Technologies by 15.8% in the fourth quarter. Cibc World Markets Corp now owns 35,515 shares of the company’s stock worth $13,117,000 after purchasing an additional 4,844 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Trane Technologies news, SVP Mairead Magner sold 198 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were 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. This trade represents a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David S. Regnery sold 2,754 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total value of $984,114.36. Following the transaction, the chief executive officer now owns 132,969 shares of the company’s stock, valued at $47,515,142.46. This trade represents a 2.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,234 shares of company stock valued at $2,588,102 over the last three months. 0.38% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on TT shares. Royal Bank of Canada raised their price objective on shares of Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a research report on Friday, January 3rd. Citigroup lowered their price objective on Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. UBS Group cut their target price on Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Northcoast Research initiated coverage on Trane Technologies in a report on Friday, November 22nd. They issued a “buy” rating and a $500.00 price target on the stock. Finally, Melius Research reaffirmed a “hold” rating and set a $398.00 price objective on shares of Trane Technologies in a report on Tuesday, January 28th. 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $413.69.

Trane Technologies Stock Performance

Trane Technologies stock opened at $350.28 on Thursday. The company’s 50-day moving average price is $362.58 and its 200-day moving average price is $379.83. 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 $78.56 billion, a PE ratio of 31.14, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a twelve month low of $286.32 and a twelve month high of $422.00.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share 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%. On average, equities research analysts forecast that Trane Technologies plc will post 12.83 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. Investors of record on Friday, March 7th will be given a $0.94 dividend. The ex-dividend date of this dividend is Friday, March 7th. 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 1.07%. Trane Technologies’s dividend payout ratio (DPR) is currently 33.42%.

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.