Franklin Resources Inc. Cuts Stock Position in Trane Technologies plc (NYSE:TT)

Franklin Resources Inc. reduced its position in Trane Technologies plc (NYSE:TT) by 5.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,420,994 shares of the company’s stock after selling 145,509 shares during the quarter. Franklin Resources Inc.’s holdings in Trane Technologies were worth $894,188,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Tidal Investments LLC increased its position in Trane Technologies by 22.2% during the 3rd quarter. Tidal Investments LLC now owns 15,827 shares of the company’s stock valued at $6,152,000 after buying an additional 2,874 shares in the last quarter. Synovus Financial Corp lifted its stake in shares of Trane Technologies by 16.8% during the third quarter. Synovus Financial Corp now owns 8,828 shares of the company’s stock worth $3,431,000 after buying an additional 1,271 shares during the period. Ameritas Advisory Services LLC purchased a new position in Trane Technologies in the 4th quarter worth $468,000. HB Wealth Management LLC lifted its position in Trane Technologies by 14.3% during the 4th 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 during the period. Finally, Crossmark Global Holdings Inc. raised its position in Trane Technologies by 31.2% during the 4th quarter. Crossmark Global Holdings Inc. now owns 29,057 shares of the company’s stock worth $10,733,000 after buying an additional 6,910 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Stock Down 4.3 %

Trane Technologies stock opened at $331.69 on Monday. The stock has a market capitalization of $74.40 billion, a price-to-earnings ratio of 29.48, a PEG ratio of 2.50 and a beta of 1.08. 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 plc has a twelve month low of $286.32 and a twelve month high of $422.00. The stock has a 50 day moving average of $357.83 and a two-hundred day moving average of $380.15.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data 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 return on equity of 35.37% and a net margin of 12.94%. As a group, research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be issued a $0.94 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.13%. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s dividend payout ratio is currently 33.42%.

Insiders Place Their Bets

In other Trane Technologies news, CFO Christopher J. Kuehn sold 770 shares of Trane Technologies stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $358.39, for a total value of $275,960.30. Following the completion of the sale, the chief financial officer now owns 62,221 shares in the company, valued at $22,299,384.19. The trade was a 1.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Evan M. Turtz sold 318 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $358.12, for a total transaction of $113,882.16. Following the completion of the sale, the senior vice president now directly owns 20,513 shares in the company, valued at $7,346,115.56. This represents a 1.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,234 shares of company stock worth $2,588,102. 0.38% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on TT shares. Melius downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price target for the company. in a report on Tuesday, January 28th. Melius Research reaffirmed a “hold” rating and set a $398.00 price objective on shares of Trane Technologies in a report on Tuesday, January 28th. UBS Group cut their target price on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Barclays decreased their price target on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. Finally, Wells Fargo & Company reduced their target price on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $413.69.

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.