Vinva Investment Management Ltd Sells 5,888 Shares of Trane Technologies plc (NYSE:TT)

Vinva Investment Management Ltd trimmed its stake in shares of Trane Technologies plc (NYSE:TT) by 34.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,368 shares of the company’s stock after selling 5,888 shares during the quarter. Vinva Investment Management Ltd’s holdings in Trane Technologies were worth $4,216,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Tidal Investments LLC lifted its holdings in shares of Trane Technologies by 22.2% during the third quarter. Tidal Investments LLC now owns 15,827 shares of the company’s stock worth $6,152,000 after buying an additional 2,874 shares in the last quarter. Synovus Financial Corp lifted its holdings in shares of Trane Technologies by 16.8% during the third quarter. Synovus Financial Corp now owns 8,828 shares of the company’s stock worth $3,431,000 after buying an additional 1,271 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Trane Technologies during the fourth quarter worth $468,000. HB Wealth Management LLC lifted its holdings in shares of Trane Technologies by 14.3% during the fourth quarter. HB Wealth Management LLC now owns 5,689 shares of the company’s stock worth $2,101,000 after buying an additional 711 shares in the last quarter. Finally, Crossmark Global Holdings Inc. lifted its holdings in shares of Trane Technologies by 31.2% during the fourth quarter. Crossmark Global Holdings Inc. now owns 29,057 shares of the company’s stock worth $10,733,000 after buying an additional 6,910 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on TT. UBS Group cut their price objective 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. Melius Research reaffirmed a “hold” rating and set a $398.00 price objective on shares of Trane Technologies in a research report on Tuesday, January 28th. Northcoast Research began coverage on shares of Trane Technologies in a research report on Friday, November 22nd. They set a “buy” rating and a $500.00 price objective for the company. Barclays cut their price objective on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. Finally, Wells Fargo & Company cut their price objective 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 given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $413.69.

Insider Transactions at Trane Technologies

In related news, SVP Mairead Magner sold 198 shares of the 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 transaction, the senior vice president now directly owns 13,401 shares in the company, valued at $4,792,331.61. This trade 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, CEO David S. Regnery sold 2,754 shares of the firm’s stock in a transaction 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 in the company, valued at approximately $47,515,142.46. This trade represents a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,234 shares of company stock valued at $2,588,102 in the last quarter. 0.38% of the stock is currently owned by company insiders.

Trane Technologies Stock Performance

NYSE:TT opened at $350.28 on Thursday. The company has a market capitalization of $78.56 billion, a PE ratio of 31.14, a P/E/G ratio of 2.50 and a beta of 1.08. The company has a 50 day simple moving average of $362.58 and a two-hundred day simple moving average of $379.83. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. Trane Technologies plc has a fifty-two week low of $286.32 and a fifty-two week high of $422.00.

Trane Technologies (NYSE:TT) last released its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share 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%. Research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be given a dividend of $0.94 per share. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.76 annualized dividend and a dividend yield of 1.07%. Trane Technologies’s dividend payout ratio (DPR) is 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.