Trane Technologies plc (NYSE:TT) Stock Holdings Lessened by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lessened its stake in shares of Trane Technologies plc (NYSE:TT) by 7.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,504,896 shares of the company’s stock after selling 123,226 shares during the period. Pictet Asset Management Holding SA’s holdings in Trane Technologies were worth $555,833,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of TT. Tidal Investments LLC lifted its holdings in shares of Trane Technologies by 22.2% during the third quarter. Tidal Investments LLC now owns 15,827 shares of the company’s stock valued at $6,152,000 after purchasing an additional 2,874 shares during the last quarter. Synovus Financial Corp lifted its stake in Trane Technologies by 16.8% during the third quarter. Synovus Financial Corp now owns 8,828 shares of the company’s stock valued at $3,431,000 after buying an additional 1,271 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of Trane Technologies in the fourth quarter worth about $468,000. HB Wealth Management LLC increased its position in shares of Trane Technologies by 14.3% in the fourth quarter. HB Wealth Management LLC now owns 5,689 shares of the company’s stock worth $2,101,000 after acquiring an additional 711 shares in the last quarter. Finally, Crossmark Global Holdings Inc. raised its holdings in shares of Trane Technologies by 31.2% during the fourth quarter. Crossmark Global Holdings Inc. now owns 29,057 shares of the company’s stock valued at $10,733,000 after acquiring an additional 6,910 shares during the period. 82.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TT. Melius cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective on the stock. in a research report on Tuesday, January 28th. JPMorgan Chase & Co. lifted their price target on Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Citigroup dropped their price target on Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Melius Research restated a “hold” rating and set a $398.00 price objective on shares of Trane Technologies in a research report on Tuesday, January 28th. Finally, Barclays dropped their target price on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Trane Technologies has an average rating of “Hold” and an average target price of $413.69.

Insider Activity at Trane Technologies

In related news, CFO Christopher J. Kuehn sold 876 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.42, for a total transaction of $313,099.92. Following the completion of the sale, the chief financial officer now directly owns 63,841 shares of the company’s stock, valued at approximately $22,818,050.22. This represents a 1.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David S. Regnery sold 2,754 shares of Trane Technologies stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total transaction of $984,114.36. Following the completion of the transaction, the chief executive officer now owns 132,969 shares in the company, valued at $47,515,142.46. This trade represents a 2.03 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,234 shares of company stock valued at $2,588,102. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Stock Performance

TT stock opened at $346.58 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $77.74 billion, a price-to-earnings ratio of 30.81, a P/E/G 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 firm has a 50 day moving average of $358.99 and a two-hundred day moving average of $379.82.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) 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 analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be issued a dividend of $0.94 per share. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date is Friday, March 7th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.08%. Trane Technologies’s dividend payout ratio is currently 33.42%.

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.