Trane Technologies plc (NYSE:TT) Position Trimmed by Wells Fargo & Company MN

Wells Fargo & Company MN reduced its holdings in Trane Technologies plc (NYSE:TT) by 2.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 590,034 shares of the company’s stock after selling 16,855 shares during the quarter. Wells Fargo & Company MN owned approximately 0.26% of Trane Technologies worth $217,929,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. PAX Financial Group LLC lifted its stake in Trane Technologies by 17.4% in the fourth quarter. PAX Financial Group LLC now owns 858 shares of the company’s stock valued at $317,000 after buying an additional 127 shares during the last quarter. Bornite Capital Management LP lifted its position in Trane Technologies by 14.9% in the 4th quarter. Bornite Capital Management LP now owns 40,200 shares of the company’s stock valued at $14,848,000 after purchasing an additional 5,200 shares during the last quarter. Pitcairn Co. boosted its stake in Trane Technologies by 4.4% during the 4th quarter. Pitcairn Co. now owns 8,973 shares of the company’s stock valued at $3,314,000 after purchasing an additional 380 shares during the period. World Investment Advisors grew its position in Trane Technologies by 11.9% in the 4th quarter. World Investment Advisors now owns 38,691 shares of the company’s stock worth $14,291,000 after purchasing an additional 4,110 shares during the last quarter. Finally, OneAscent Financial Services LLC increased its stake in shares of Trane Technologies by 13.5% in the fourth quarter. OneAscent Financial Services LLC now owns 2,567 shares of the company’s stock valued at $948,000 after purchasing an additional 305 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, SVP Evan M. Turtz sold 318 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president now owns 20,513 shares of the company’s stock, valued at approximately $7,346,115.56. This represents a 1.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Mairead Magner sold 198 shares of Trane Technologies stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total value of $70,806.78. Following the sale, the senior vice president now directly owns 13,401 shares in the company, valued at approximately $4,792,331.61. This trade represents a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,234 shares of company stock valued at $2,588,102. Insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TT. 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 research report on Friday, January 31st. Royal Bank of Canada increased their price target on Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research note on Friday, January 3rd. JPMorgan Chase & Co. lifted their price objective on shares of Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Citigroup decreased their target price on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Finally, Barclays dropped their price target on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $413.69.

Trane Technologies Stock Performance

TT opened at $318.18 on Friday. 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 cap of $71.36 billion, a PE ratio of 28.28, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. The stock has a 50-day moving average of $351.63 and a 200-day moving average of $378.95. Trane Technologies plc has a 52-week low of $286.32 and a 52-week 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 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%. As a group, equities research analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be paid a $0.94 dividend. The ex-dividend date is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.18%. Trane Technologies’s payout ratio is presently 33.42%.

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.