Anchor Capital Advisors LLC Has $48.38 Million Position in Trane Technologies plc (NYSE:TT)

Anchor Capital Advisors LLC cut its position in shares of Trane Technologies plc (NYSE:TT) by 6.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 130,983 shares of the company’s stock after selling 8,720 shares during the period. Trane Technologies accounts for 1.4% of Anchor Capital Advisors LLC’s portfolio, making the stock its 19th largest holding. Anchor Capital Advisors LLC owned 0.06% of Trane Technologies worth $48,379,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. FMR LLC raised its stake in Trane Technologies by 4.0% in the third quarter. FMR LLC now owns 10,337,672 shares of the company’s stock valued at $4,018,563,000 after buying an additional 397,537 shares during the period. State Street Corp raised its stake in Trane Technologies by 0.8% in the 3rd quarter. State Street Corp now owns 9,769,161 shares of the company’s stock valued at $3,797,565,000 after acquiring an additional 77,830 shares during the period. Geode Capital Management LLC lifted its holdings in Trane Technologies by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 4,638,914 shares of the company’s stock valued at $1,797,700,000 after purchasing an additional 65,991 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Trane Technologies by 35.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock worth $991,460,000 after purchasing an additional 671,691 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Trane Technologies by 0.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,142,081 shares of the company’s stock valued at $832,691,000 after purchasing an additional 20,151 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Mairead Magner sold 198 shares of the stock in a transaction that occurred on 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 transaction, the senior vice president now owns 13,401 shares of the company’s stock, valued at $4,792,331.61. This represents a 1.46 % 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 Evan M. Turtz sold 318 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were 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 owns 20,513 shares in the company, valued at $7,346,115.56. This represents a 1.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,563 shares of company stock worth $4,388,966 in the last ninety days. 0.38% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

TT has been the subject of a number of research reports. JPMorgan Chase & Co. raised their target price on shares of Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Wells Fargo & Company reduced their price objective on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a report on Friday, January 31st. Northcoast Research initiated coverage on Trane Technologies in a research note on Friday, November 22nd. They set a “buy” rating and a $500.00 target price on the stock. UBS Group decreased their price objective on Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Finally, 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. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $415.25.

Trane Technologies Price Performance

TT stock opened at $344.64 on Friday. The company’s 50-day moving average price is $371.72 and its two-hundred day moving average price is $380.02. The firm has a market cap of $77.30 billion, a P/E ratio of 30.63, a P/E/G ratio of 2.50 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 plc has a 12 month low of $279.00 and a 12 month high of $422.00.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data 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%. On average, 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. Stockholders of record on Friday, March 7th will be issued a dividend of $0.94 per share. The ex-dividend date is Friday, March 7th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.09%. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s payout ratio is 29.87%.

About Trane Technologies

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.