Northern Trust Corp Raises Stake in Trane Technologies plc (NYSE:TT)

Northern Trust Corp lifted its position in shares of Trane Technologies plc (NYSE:TT) by 20.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,567,527 shares of the company’s stock after purchasing an additional 429,953 shares during the quarter. Northern Trust Corp owned about 1.14% of Trane Technologies worth $948,316,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Global Wealth Strategies & Associates acquired a new position in shares of Trane Technologies in the 4th quarter valued at approximately $26,000. Sound Income Strategies LLC raised its position in shares of Trane Technologies by 1,314.3% in the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after purchasing an additional 92 shares in the last quarter. Flagship Wealth Advisors LLC acquired a new position in shares of Trane Technologies in the 4th quarter valued at approximately $37,000. Golden State Wealth Management LLC acquired a new position in shares of Trane Technologies in the 4th quarter valued at approximately $39,000. Finally, BankPlus Trust Department acquired a new position in shares of Trane Technologies in the 4th quarter valued at approximately $45,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Up 1.0 %

Trane Technologies stock opened at $351.38 on Tuesday. The firm has a market cap of $78.81 billion, a PE ratio of 31.23, a P/E/G ratio of 2.50 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. The firm’s 50 day moving average price is $342.00 and its two-hundred day moving average price is $372.33. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $422.00.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. On average, research analysts predict that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be issued a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.76 annualized dividend and a yield of 1.07%. Trane Technologies’s dividend payout ratio (DPR) is currently 33.42%.

Analyst Ratings Changes

TT has been the subject of several recent research reports. Melius lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price for the company. in a research note on Tuesday, January 28th. JPMorgan Chase & Co. reduced their target price on shares of Trane Technologies from $396.00 to $323.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. HSBC raised shares of Trane Technologies from a “hold” rating to a “buy” rating and boosted their target price for the company from $405.00 to $415.00 in a research note on Friday. UBS Group reduced their price target 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. Finally, Barclays dropped their target price on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $405.94.

Insider Buying and Selling at Trane Technologies

In other news, CEO David S. Regnery sold 2,754 shares of Trane Technologies stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total value of $984,114.36. Following the transaction, the chief executive officer now directly owns 132,969 shares in the company, valued at approximately $47,515,142.46. The trade was a 2.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,234 shares of company stock worth $2,588,102 over the last three months. Corporate insiders own 0.38% of the company’s stock.

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.