Invesco Ltd. Cuts Position in Trane Technologies plc (NYSE:TT)

Invesco Ltd. trimmed its holdings in shares of Trane Technologies plc (NYSE:TT) by 0.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,572,154 shares of the company’s stock after selling 10,657 shares during the period. Invesco Ltd. owned approximately 0.70% of Trane Technologies worth $580,675,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Global Wealth Strategies & Associates purchased a new position in Trane Technologies during the fourth quarter valued at $26,000. Sound Income Strategies LLC increased its holdings in shares of Trane Technologies by 1,314.3% during the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after acquiring an additional 92 shares in the last quarter. Flagship Wealth Advisors LLC purchased a new position in shares of Trane Technologies in the 4th quarter worth about $37,000. Golden State Wealth Management LLC bought a new position in Trane Technologies in the 4th quarter worth about $39,000. Finally, BankPlus Trust Department bought a new stake in Trane Technologies during the 4th quarter valued at about $45,000. 82.97% of the stock is owned by institutional investors.

Trane Technologies Trading Down 0.4 %

Shares of NYSE:TT opened at $314.77 on Wednesday. The stock has a 50 day moving average of $348.59 and a 200 day moving average of $377.60. The company has a market cap of $70.60 billion, a PE ratio of 27.98, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a 12-month low of $286.32 and a 12-month high of $422.00. 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 posted its quarterly earnings results 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 expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a yield of 1.19%. Trane Technologies’s payout ratio is presently 33.42%.

Wall Street Analysts Forecast Growth

TT has been the subject of several analyst reports. UBS Group reduced their price target on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Melius downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective for the company. in a report on Tuesday, January 28th. Citigroup lowered their target price on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Melius Research reiterated a “hold” rating and issued a $398.00 price target on shares of Trane Technologies in a research note on Tuesday, January 28th. Finally, Wells Fargo & Company lowered their price objective on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $409.13.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, SVP Mairead Magner sold 198 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total transaction of $70,806.78. Following the completion of the sale, the senior vice president now directly owns 13,401 shares of the company’s stock, valued at $4,792,331.61. This trade represents a 1.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Christopher J. Kuehn sold 770 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $358.39, for a total transaction of $275,960.30. Following the transaction, the chief financial officer now owns 62,221 shares of the company’s stock, valued at approximately $22,299,384.19. This represents a 1.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,234 shares of company stock valued at $2,588,102 over the last ninety days. 0.38% of the stock is currently owned by company insiders.

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.