Loomis Sayles & Co. L P Has $131.24 Million Stake in Trane Technologies plc (NYSE:TT)

Loomis Sayles & Co. L P reduced its holdings in Trane Technologies plc (NYSE:TT) by 2.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 355,337 shares of the company’s stock after selling 9,443 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Trane Technologies were worth $131,244,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Global Wealth Strategies & Associates bought a new position in shares of Trane Technologies in the 4th quarter worth $26,000. Sound Income Strategies LLC increased its stake in shares of Trane Technologies by 1,314.3% in 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 last quarter. Flagship Wealth Advisors LLC acquired a new stake in shares of Trane Technologies in the 4th quarter valued at approximately $37,000. Golden State Wealth Management LLC bought a new position in Trane Technologies during the 4th quarter worth approximately $39,000. Finally, Legacy Investment Solutions LLC bought a new stake in Trane Technologies in the third quarter valued at approximately $44,000. 82.97% of the stock is owned by institutional investors.

Trane Technologies Price Performance

Shares of NYSE TT opened at $352.29 on Thursday. Trane Technologies plc has a twelve month low of $286.32 and a twelve month high of $422.00. The stock’s 50-day simple moving average is $359.83 and its two-hundred day simple moving average is $380.06. The firm has a market capitalization of $79.01 billion, a P/E ratio of 31.31, a P/E/G ratio of 2.50 and a beta of 1.08. 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 announced its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, beating the consensus estimate 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 analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be paid a dividend of $0.94 per share. The ex-dividend date is Friday, March 7th. This represents a $3.76 annualized dividend and a yield of 1.07%. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s payout ratio is presently 33.42%.

Insider Activity at Trane Technologies

In other Trane Technologies news, SVP Evan M. Turtz sold 318 shares of the company’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 value of $113,882.16. Following the completion of the transaction, the senior vice president now directly owns 20,513 shares in the company, valued at $7,346,115.56. This represents a 1.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Mairead Magner sold 198 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 13,401 shares in the company, valued at approximately $4,792,331.61. This represents a 1.46 % 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 90 days. Corporate insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

TT has been the topic of a number of recent analyst reports. Royal Bank of Canada lifted their price target on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research report on Friday, January 3rd. Citigroup decreased their target price on Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Wells Fargo & Company dropped their price target on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a research report on Friday, January 31st. JPMorgan Chase & Co. boosted their price objective on Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Finally, Melius downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price on the stock. in a report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $413.69.

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.