ING Groep NV Has $75.36 Million Stock Position in Trane Technologies plc (NYSE:TT)

ING Groep NV decreased its stake in shares of Trane Technologies plc (NYSE:TT) by 20.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 204,040 shares of the company’s stock after selling 51,641 shares during the quarter. ING Groep NV owned about 0.09% of Trane Technologies worth $75,362,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. MidAtlantic Capital Management Inc. bought a new position in shares of Trane Technologies during the 3rd quarter worth approximately $27,000. Global Wealth Strategies & Associates bought a new stake in Trane Technologies in the 4th quarter valued at $26,000. DT Investment Partners LLC bought a new stake in Trane Technologies in the 3rd quarter valued at $36,000. Sound Income Strategies LLC lifted its position in shares of Trane Technologies by 1,314.3% during the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after acquiring an additional 92 shares during the period. Finally, Pittenger & Anderson Inc. bought a new stake in shares of Trane Technologies during the 3rd quarter valued at $39,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Stock Performance

Shares of Trane Technologies stock opened at $370.04 on Thursday. The company has a market cap of $83.00 billion, a PE ratio of 32.89, a price-to-earnings-growth ratio of 2.48 and a beta of 1.05. Trane Technologies plc has a 52 week low of $270.50 and a 52 week high of $422.00. The business has a 50 day moving average price of $376.38 and a 200-day moving average price of $379.24. 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 issued its quarterly earnings data 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%. Equities 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. Investors of record on Friday, March 7th will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.02%. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date is Friday, March 7th. Trane Technologies’s dividend payout ratio (DPR) is presently 29.87%.

Insider Activity at Trane Technologies

In related news, SVP Evan M. Turtz sold 318 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $358.12, for a total transaction of $113,882.16. Following the completion of the sale, the senior vice president now directly owns 20,513 shares of the company’s stock, valued at approximately $7,346,115.56. This trade represents a 1.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Christopher J. Kuehn sold 876 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total value of $313,099.92. Following the completion of the sale, the chief financial officer now directly owns 63,841 shares of the company’s stock, valued at $22,818,050.22. This represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,563 shares of company stock valued at $4,388,966. 0.38% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on TT. Barclays boosted their price target on Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. JPMorgan Chase & Co. upped their target price on Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Melius cut Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price target for the company. in a research note on Tuesday, January 28th. Hsbc Global Res lowered Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, Citigroup cut their target price 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. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price 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.