Prudential Financial Inc. Cuts Stake in Trane Technologies plc (NYSE:TT)

Prudential Financial Inc. lowered its stake in shares of Trane Technologies plc (NYSE:TT) by 22.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 41,690 shares of the company’s stock after selling 12,104 shares during the period. Prudential Financial Inc.’s holdings in Trane Technologies were worth $15,398,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. Congress Wealth Management LLC DE purchased a new stake in shares of Trane Technologies during the 4th quarter worth approximately $736,000. Vanguard Group Inc. increased its position in Trane Technologies by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 19,235,570 shares of the company’s stock worth $7,104,658,000 after buying an additional 152,353 shares during the last quarter. Stevens Capital Management LP lifted its position in shares of Trane Technologies by 134.0% during the 4th quarter. Stevens Capital Management LP now owns 1,301 shares of the company’s stock valued at $481,000 after buying an additional 745 shares during the last quarter. LPL Financial LLC grew its stake in shares of Trane Technologies by 30.4% during the 4th quarter. LPL Financial LLC now owns 201,404 shares of the company’s stock worth $74,389,000 after acquiring an additional 46,983 shares during the period. Finally, Fox Run Management L.L.C. purchased a new stake in Trane Technologies in the 4th quarter worth about $651,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

TT has been the subject of a number of research reports. Melius Research reiterated a “hold” rating and set a $398.00 target price on shares of Trane Technologies in a research report on Tuesday, January 28th. Citigroup cut their price objective on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a report on Monday, January 13th. Wells Fargo & Company lowered their target price on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. UBS Group cut their price target on Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a report on Friday, January 31st. Finally, Melius lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective on the stock. in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Trane Technologies presently has an average rating of “Hold” and a consensus price target of $413.69.

Trane Technologies Stock Down 1.6 %

Shares of NYSE TT opened at $346.58 on Friday. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The business has a 50-day moving average of $358.99 and a 200-day moving average of $379.82. The firm has a market capitalization of $77.74 billion, a price-to-earnings ratio of 30.81, a PEG 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.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Thursday, January 30th. The company reported $2.61 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%. Sell-side analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal 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 yield of 1.08%. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s dividend payout ratio is currently 33.42%.

Insider Buying and Selling at Trane Technologies

In related news, SVP Evan M. Turtz sold 318 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $358.12, for a total transaction of $113,882.16. Following the transaction, the senior vice president now owns 20,513 shares of the company’s stock, valued at approximately $7,346,115.56. This trade represents a 1.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Mairead Magner sold 198 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was 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 represents a 1.46 % decrease in their ownership of the stock. 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.

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.