National Pension Service Sells 26,677 Shares of Trane Technologies plc (NYSE:TT)

National Pension Service decreased its holdings in Trane Technologies plc (NYSE:TT) by 4.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 571,457 shares of the company’s stock after selling 26,677 shares during the period. National Pension Service owned 0.25% of Trane Technologies worth $211,068,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Advisor OS LLC grew its stake in Trane Technologies by 6.2% during the fourth quarter. Advisor OS LLC now owns 770 shares of the company’s stock valued at $284,000 after acquiring an additional 45 shares in the last quarter. MorganRosel Wealth Management LLC lifted its position in Trane Technologies by 2.7% during the fourth quarter. MorganRosel Wealth Management LLC now owns 3,695 shares of the company’s stock valued at $1,365,000 after purchasing an additional 98 shares during the last quarter. Illinois Municipal Retirement Fund increased its holdings in shares of Trane Technologies by 6.0% in the 4th quarter. Illinois Municipal Retirement Fund now owns 27,357 shares of the company’s stock worth $10,104,000 after buying an additional 1,550 shares during the last quarter. Los Angeles Capital Management LLC raised its position in shares of Trane Technologies by 16.1% during the 4th quarter. Los Angeles Capital Management LLC now owns 566,893 shares of the company’s stock valued at $209,382,000 after buying an additional 78,482 shares in the last quarter. Finally, FourThought Financial Partners LLC bought a new position in shares of Trane Technologies in the 4th quarter valued at about $260,000. Institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Melius downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective on the stock. in a research report on Tuesday, January 28th. Robert W. Baird lowered their price target on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Hsbc Global Res cut shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Royal Bank of Canada raised their target price on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a report on Friday, January 3rd. Finally, Northcoast Research initiated coverage on shares of Trane Technologies in a research report on Friday, November 22nd. They issued a “buy” rating and a $500.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $415.25.

Insider Activity

In other news, SVP Mairead Magner sold 198 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David S. Regnery sold 2,754 shares of the company’s stock in a transaction dated 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 directly owns 132,969 shares in the company, valued at $47,515,142.46. This represents a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,563 shares of company stock worth $4,388,966. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Trading Up 0.6 %

NYSE TT opened at $349.10 on Wednesday. Trane Technologies plc has a one year low of $279.00 and a one year high of $422.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. The company has a market capitalization of $78.30 billion, a price-to-earnings ratio of 31.03, a price-to-earnings-growth ratio of 2.50 and a beta of 1.05. The company’s 50-day simple moving average is $372.93 and its two-hundred day simple moving average is $380.47.

Trane Technologies (NYSE:TT) last announced its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, beating 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 forecast that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.08%. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies’s dividend payout ratio is presently 29.87%.

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.