Ninety One UK Ltd Has $332.58 Million Stock Holdings in Trane Technologies plc (NYSE:TT)

Ninety One UK Ltd cut its holdings in Trane Technologies plc (NYSE:TT) by 28.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,363,603 shares of the company’s stock after selling 545,582 shares during the quarter. Ninety One UK Ltd’s holdings in Trane Technologies were worth $332,583,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. BKM Wealth Management LLC acquired a new position in shares of Trane Technologies in the 4th quarter valued at approximately $25,000. Venturi Wealth Management LLC grew its position in shares of Trane Technologies by 139.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 151 shares of the company’s stock valued at $31,000 after purchasing an additional 88 shares during the period. Live Oak Investment Partners acquired a new position in shares of Trane Technologies in the 4th quarter valued at approximately $30,000. Avior Wealth Management LLC grew its position in shares of Trane Technologies by 58.0% in the 3rd quarter. Avior Wealth Management LLC now owns 177 shares of the company’s stock valued at $36,000 after purchasing an additional 65 shares during the period. Finally, Rosenberg Matthew Hamilton boosted its position in Trane Technologies by 27.2% during the 4th quarter. Rosenberg Matthew Hamilton now owns 192 shares of the company’s stock worth $47,000 after acquiring an additional 41 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on TT shares. Barclays upped their price target on Trane Technologies from $286.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. The Goldman Sachs Group upped their price target on Trane Technologies from $253.00 to $287.00 and gave the stock a “neutral” rating in a research report on Monday, February 5th. Royal Bank of Canada upped their price target on Trane Technologies from $231.00 to $246.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. Citigroup upped their price target on Trane Technologies from $309.00 to $355.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Finally, Stephens upped their price target on Trane Technologies from $235.00 to $280.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Trane Technologies currently has a consensus rating of “Hold” and a consensus price target of $251.83.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 6,990 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $286.19, for a total value of $2,000,468.10. Following the transaction, the chief executive officer now directly owns 113,874 shares of the company’s stock, valued at approximately $32,589,600.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Trane Technologies news, CEO David S. Regnery sold 6,990 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $286.19, for a total value of $2,000,468.10. Following the transaction, the chief executive officer now directly owns 113,874 shares of the company’s stock, valued at approximately $32,589,600.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Evan M. Turtz sold 2,821 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $288.33, for a total value of $813,378.93. Following the completion of the transaction, the senior vice president now directly owns 20,729 shares in the company, valued at $5,976,792.57. The disclosure for this sale can be found here. Insiders have sold a total of 29,874 shares of company stock valued at $8,462,825 in the last ninety days. 0.39% of the stock is currently owned by corporate insiders.

Trane Technologies Stock Performance

TT traded down $2.23 during trading hours on Thursday, reaching $290.86. The company’s stock had a trading volume of 253,803 shares, compared to its average volume of 991,793. Trane Technologies plc has a 52 week low of $162.04 and a 52 week high of $306.98. The company’s 50-day moving average is $289.02 and its 200-day moving average is $250.01. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.78 and a current ratio of 1.13. The firm has a market cap of $66.05 billion, a PE ratio of 33.34, a price-to-earnings-growth ratio of 2.49 and a beta of 1.05.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Thursday, February 1st. The company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.13 by $0.04. Trane Technologies had a return on equity of 32.01% and a net margin of 11.45%. The business had revenue of $4.42 billion for the quarter, compared to analysts’ expectations of $4.43 billion. During the same quarter in the prior year, the business earned $1.82 EPS. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, equities analysts forecast that Trane Technologies plc will post 10.2 EPS for the current year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend is Thursday, June 6th. Trane Technologies’s dividend payout ratio is 38.23%.

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.