Trane Technologies plc (NYSE:TT) Stock Holdings Lessened by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. cut its stake in shares of Trane Technologies plc (NYSE:TT) by 58.5% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 557 shares of the company’s stock after selling 784 shares during the period. E Fund Management Co. Ltd.’s holdings in Trane Technologies were worth $206,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in TT. Global Wealth Strategies & Associates purchased a new position in shares of Trane Technologies during the 4th quarter valued at $26,000. MidAtlantic Capital Management Inc. acquired a new stake in Trane Technologies during the third quarter valued at $27,000. Sound Income Strategies LLC grew its stake in Trane Technologies by 1,314.3% in the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after purchasing an additional 92 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of Trane Technologies during the 4th quarter worth about $39,000. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of Trane Technologies during the 3rd quarter valued at about $44,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Stock Performance

NYSE TT opened at $344.81 on Monday. The company’s fifty day moving average is $367.96 and its two-hundred day moving average is $380.61. The firm has a market capitalization of $77.34 billion, a price-to-earnings ratio of 30.65, a P/E/G ratio of 2.50 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. Trane Technologies plc has a 52-week low of $279.00 and a 52-week high of $422.00.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. Equities research analysts forecast that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.09%. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date is Friday, March 7th. Trane Technologies’s dividend payout ratio is presently 29.87%.

Insiders Place Their Bets

In related news, SVP Evan M. Turtz sold 318 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $358.12, for a total value of $113,882.16. Following the sale, the senior vice president now owns 20,513 shares of the company’s stock, valued at $7,346,115.56. The trade was a 1.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Mairead Magner sold 198 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total transaction of $70,806.78. Following the sale, the senior vice president now 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 disclosure for this sale can be found here. Insiders have sold 7,234 shares of company stock worth $2,588,102 over the last 90 days. Corporate insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

TT has been the topic of a number of research reports. UBS Group dropped their price objective on Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Northcoast Research started coverage on shares of Trane Technologies in a report on Friday, November 22nd. They set a “buy” rating and a $500.00 price target on the stock. JPMorgan Chase & Co. upped their price objective on shares of Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Royal Bank of Canada raised their target price 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, Wells Fargo & Company decreased their price target on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a research note 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 company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $415.25.

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.