Trane Technologies plc (NYSE:TT) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its stake in shares of Trane Technologies plc (NYSE:TT) by 7.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,494 shares of the company’s stock after selling 901 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Trane Technologies were worth $3,450,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of TT. Keel Point LLC increased its holdings in Trane Technologies by 3.0% during the 4th quarter. Keel Point LLC now owns 1,326 shares of the company’s stock valued at $323,000 after acquiring an additional 39 shares in the last quarter. Rosenberg Matthew Hamilton raised its holdings in shares of Trane Technologies by 27.2% in the fourth 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. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Trane Technologies by 2.3% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,847 shares of the company’s stock valued at $450,000 after acquiring an additional 42 shares in the last quarter. Level Four Advisory Services LLC raised its stake in Trane Technologies by 1.5% in the 4th quarter. Level Four Advisory Services LLC now owns 2,757 shares of the company’s stock valued at $672,000 after purchasing an additional 42 shares during the last quarter. Finally, Cedrus LLC boosted its stake in shares of Trane Technologies by 2.6% during the 4th quarter. Cedrus LLC now owns 1,669 shares of the company’s stock worth $407,000 after purchasing an additional 43 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

TT has been the topic of a number of recent analyst reports. Stephens increased their price target on Trane Technologies from $310.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 1st. UBS Group upped their price objective on shares of Trane Technologies from $330.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, June 3rd. The Goldman Sachs Group upped their price target on shares of Trane Technologies from $287.00 to $326.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. JPMorgan Chase & Co. lifted their price target on shares of Trane Technologies from $247.00 to $300.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Finally, Barclays boosted their price target on Trane Technologies from $354.00 to $380.00 and gave the company an “overweight” rating in a research report on Tuesday, June 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Trane Technologies currently has an average rating of “Hold” and an average price target of $309.79.

Trane Technologies Stock Performance

Shares of NYSE TT traded down $0.46 during trading hours on Tuesday, hitting $320.90. 205,169 shares of the stock were exchanged, compared to its average volume of 1,084,170. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.13 and a quick ratio of 0.74. The company’s 50 day moving average is $325.86 and its 200 day moving average is $291.01. The firm has a market capitalization of $72.64 billion, a P/E ratio of 34.32, a P/E/G ratio of 2.55 and a beta of 1.01. Trane Technologies plc has a one year low of $184.02 and a one year high of $345.46.

Trane Technologies (NYSE:TT) last posted its earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.30. The business had revenue of $4.22 billion for the quarter, compared to analysts’ expectations of $3.99 billion. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.41 earnings per share. On average, research analysts expect that Trane Technologies plc will post 10.48 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be given a $0.84 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $3.36 dividend on an annualized basis and a yield of 1.05%. Trane Technologies’s payout ratio is 35.90%.

Insider Transactions at Trane Technologies

In related news, SVP Evan M. Turtz sold 8,988 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $321.30, for a total transaction of $2,887,844.40. Following the completion of the transaction, the senior vice president now owns 20,758 shares in the company, valued at $6,669,545.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Christopher J. Kuehn sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $318.67, for a total transaction of $1,274,680.00. Following the completion of the transaction, the chief financial officer now directly owns 61,293 shares of the company’s stock, valued at approximately $19,532,240.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Evan M. Turtz sold 8,988 shares of Trane Technologies stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $321.30, for a total value of $2,887,844.40. Following the completion of the sale, the senior vice president now directly owns 20,758 shares in the company, valued at approximately $6,669,545.40. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by corporate insiders.

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.