Trane Technologies plc (NYSE:TT) Shares Sold by Financial Counselors Inc.

Financial Counselors Inc. lessened its stake in shares of Trane Technologies plc (NYSE:TT) by 13.1% in the 4th quarter, Holdings Channel reports. The firm owned 2,123 shares of the company’s stock after selling 319 shares during the period. Financial Counselors Inc.’s holdings in Trane Technologies were worth $784,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TT. Vanguard Group Inc. raised its holdings in shares of Trane Technologies by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 19,235,570 shares of the company’s stock valued at $7,104,658,000 after acquiring an additional 152,353 shares during the last quarter. State Street Corp boosted its stake in shares of Trane Technologies by 0.8% in the third quarter. State Street Corp now owns 9,769,161 shares of the company’s stock worth $3,797,565,000 after acquiring an additional 77,830 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Trane Technologies by 1.4% during the third quarter. Geode Capital Management LLC now owns 4,638,914 shares of the company’s stock worth $1,797,700,000 after purchasing an additional 65,991 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Trane Technologies in the 4th quarter valued at $611,322,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Trane Technologies by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,248,083 shares of the company’s stock valued at $460,980,000 after purchasing an additional 21,678 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TT. Citigroup reduced 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. 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. Melius Research restated a “hold” rating and set a $398.00 target price on shares of Trane Technologies in a report on Tuesday, January 28th. Royal Bank of Canada increased their price target on Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a report on Friday, January 3rd. Finally, UBS Group lowered their price objective on Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Trane Technologies presently has a consensus rating of “Hold” and an average price target of $413.69.

Insider Buying and Selling at Trane Technologies

In related news, CFO Christopher J. Kuehn sold 876 shares of Trane Technologies stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.42, for a total value of $313,099.92. Following the transaction, the chief financial officer now directly owns 63,841 shares in the company, valued at $22,818,050.22. This trade represents a 1.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO David S. Regnery sold 2,754 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total transaction of $984,114.36. Following the transaction, the chief executive officer now owns 132,969 shares of the company’s stock, valued at approximately $47,515,142.46. The trade was a 2.03 % decrease in their position. 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 ninety days. Insiders own 0.38% of the company’s stock.

Trane Technologies Price Performance

Shares of NYSE TT opened at $331.69 on Friday. The stock has a market cap of $74.40 billion, a P/E ratio of 29.48, a P/E/G ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a twelve month low of $286.32 and a twelve month high of $422.00. The stock has a 50 day moving average of $357.83 and a two-hundred day moving average of $379.73. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58.

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

Trane Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be issued a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.13%. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s dividend payout ratio (DPR) is currently 33.42%.

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.