Russell Investments Group Ltd. Sells 13,104 Shares of Trane Technologies plc (NYSE:TT)

Russell Investments Group Ltd. lowered its position in Trane Technologies plc (NYSE:TT) by 4.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 309,103 shares of the company’s stock after selling 13,104 shares during the period. Russell Investments Group Ltd. owned about 0.14% of Trane Technologies worth $75,389,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in TT. Wellington Management Group LLP boosted its stake in Trane Technologies by 36.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,639,058 shares of the company’s stock worth $332,581,000 after purchasing an additional 436,997 shares during the period. Xponance Inc. boosted its stake in Trane Technologies by 18.6% in the 4th quarter. Xponance Inc. now owns 43,825 shares of the company’s stock worth $10,689,000 after purchasing an additional 6,869 shares during the period. CHICAGO TRUST Co NA boosted its stake in Trane Technologies by 2.1% in the 4th quarter. CHICAGO TRUST Co NA now owns 3,136 shares of the company’s stock worth $765,000 after purchasing an additional 64 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Trane Technologies by 60.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 112,239 shares of the company’s stock worth $27,375,000 after purchasing an additional 42,409 shares during the period. Finally, Wealth Effects LLC acquired a new position in Trane Technologies in the 4th quarter worth $239,000. Institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, CFO Christopher J. Kuehn sold 3,762 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $286.48, for a total value of $1,077,737.76. Following the transaction, the chief financial officer now directly owns 61,691 shares of the company’s stock, valued at approximately $17,673,237.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Christopher J. Kuehn sold 3,762 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $286.48, for a total transaction of $1,077,737.76. Following the transaction, the chief financial officer now directly owns 61,691 shares of the company’s stock, valued at $17,673,237.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David S. Regnery sold 6,990 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $286.19, for a total transaction of $2,000,468.10. Following the transaction, the chief executive officer now directly owns 113,874 shares in the company, valued at $32,589,600.06. The disclosure for this sale can be found here. Insiders have sold a total of 29,874 shares of company stock valued at $8,462,825 in the last three months. 0.39% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on TT shares. Citigroup upped their target price on shares of Trane Technologies from $309.00 to $355.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Barclays increased their price objective on shares of Trane Technologies from $286.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. The Goldman Sachs Group increased their price objective on shares of Trane Technologies from $253.00 to $287.00 and gave the stock a “neutral” rating in a research note on Monday, February 5th. Stephens increased their price objective on shares of Trane Technologies from $235.00 to $280.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 6th. Finally, Royal Bank of Canada increased their price objective on shares of Trane Technologies from $231.00 to $246.00 and gave the stock a “sector perform” rating in a research note on Friday, February 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $251.83.

Trane Technologies Stock Performance

NYSE:TT traded up $5.16 during mid-day trading on Friday, hitting $304.53. The stock had a trading volume of 961,790 shares, compared to its average volume of 833,800. Trane Technologies plc has a twelve month low of $162.04 and a twelve month high of $306.98. The stock has a market cap of $69.15 billion, a price-to-earnings ratio of 34.65, a PEG ratio of 2.57 and a beta of 1.05. The company’s 50 day simple moving average is $292.22 and its 200 day simple moving average is $254.57. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.78 and a current ratio of 1.13.

Trane Technologies (NYSE:TT) last issued its earnings results on Thursday, February 1st. The company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.04. The business had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.43 billion. Trane Technologies had a net margin of 11.45% and a return on equity of 32.01%. Trane Technologies’s revenue was up 8.6% on a year-over-year basis. During the same period last year, the business posted $1.82 EPS. On average, equities research analysts forecast that Trane Technologies plc will post 10.2 earnings per share for the current year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a $0.84 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $3.36 annualized dividend and a yield of 1.10%. Trane Technologies’s dividend payout ratio is currently 38.23%.

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.