Russell Investments Group Ltd. Lowers Holdings in Trane Technologies plc (NYSE:TT)

Russell Investments Group Ltd. cut its position in Trane Technologies plc (NYSE:TT) by 4.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 309,103 shares of the company’s stock after selling 13,104 shares during the quarter. Russell Investments Group Ltd.’s holdings in Trane Technologies were worth $75,389,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wellington Management Group LLP lifted its stake in Trane Technologies by 36.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,639,058 shares of the company’s stock worth $332,581,000 after purchasing an additional 436,997 shares in the last quarter. Xponance Inc. raised its position in shares of Trane Technologies by 18.6% during the 4th quarter. Xponance Inc. now owns 43,825 shares of the company’s stock valued at $10,689,000 after buying an additional 6,869 shares in the last quarter. CHICAGO TRUST Co NA raised its position in shares of Trane Technologies by 2.1% during the 4th quarter. CHICAGO TRUST Co NA now owns 3,136 shares of the company’s stock valued at $765,000 after buying an additional 64 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Trane Technologies by 60.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 112,239 shares of the company’s stock valued at $27,375,000 after buying an additional 42,409 shares in the last quarter. Finally, Wealth Effects LLC purchased a new stake in shares of Trane Technologies during the 4th quarter valued at $239,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Keith A. Sultana sold 1,637 shares of Trane Technologies stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $267.74, for a total transaction of $438,290.38. Following the sale, the senior vice president now owns 42,374 shares of the company’s stock, valued at approximately $11,345,214.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO David S. Regnery sold 6,990 shares of Trane Technologies stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $286.19, for a total transaction of $2,000,468.10. Following the completion of 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 filing with the SEC, which is available at this hyperlink. Also, SVP Keith A. Sultana sold 1,637 shares of Trane Technologies stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $267.74, for a total transaction of $438,290.38. Following the transaction, the senior vice president now directly owns 42,374 shares of the company’s stock, valued at $11,345,214.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,874 shares of company stock valued at $8,462,825. Corporate insiders own 0.39% of the company’s stock.

Analyst Upgrades and Downgrades

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

Trane Technologies Trading Up 1.7 %

Trane Technologies stock traded up $5.16 during trading hours on Friday, reaching $304.53. The stock had a trading volume of 961,790 shares, compared to its average volume of 833,800. The stock has a market cap of $69.15 billion, a PE ratio of 34.65, a PEG ratio of 2.57 and a beta of 1.05. Trane Technologies plc has a 52 week low of $162.04 and a 52 week high of $306.98. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.13 and a quick ratio of 0.78. The company has a fifty day simple moving average of $292.22 and a 200-day simple moving average of $254.57.

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

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend is Thursday, June 6th. Trane Technologies’s payout ratio is 38.23%.

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.