The Manufacturers Life Insurance Company Trims Stake in Trane Technologies plc (NYSE:TT)

The Manufacturers Life Insurance Company decreased its position in shares of Trane Technologies plc (NYSE:TT) by 13.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 423,338 shares of the company’s stock after selling 64,254 shares during the period. The Manufacturers Life Insurance Company’s holdings in Trane Technologies were worth $156,361,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TT. Secured Retirement Advisors LLC boosted its position in shares of Trane Technologies by 0.6% in the 4th quarter. Secured Retirement Advisors LLC now owns 4,628 shares of the company’s stock worth $1,709,000 after purchasing an additional 28 shares in the last quarter. First Citizens Financial Corp boosted its position in shares of Trane Technologies by 4.6% in the 4th quarter. First Citizens Financial Corp now owns 656 shares of the company’s stock worth $242,000 after purchasing an additional 29 shares in the last quarter. Catalina Capital Group LLC boosted its position in shares of Trane Technologies by 3.2% in the 4th quarter. Catalina Capital Group LLC now owns 924 shares of the company’s stock worth $341,000 after purchasing an additional 29 shares in the last quarter. Stratos Wealth Partners LTD. boosted its position in shares of Trane Technologies by 0.5% in the 4th quarter. Stratos Wealth Partners LTD. now owns 5,538 shares of the company’s stock worth $2,046,000 after purchasing an additional 29 shares in the last quarter. Finally, Kanawha Capital Management LLC boosted its position in shares of Trane Technologies by 0.6% in the 4th quarter. Kanawha Capital Management LLC now owns 4,712 shares of the company’s stock worth $1,740,000 after purchasing an additional 29 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Up 1.0 %

NYSE:TT opened at $351.38 on Tuesday. The company 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. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $422.00. 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 company’s 50 day moving average is $342.00 and its two-hundred day moving average is $372.33.

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

Trane Technologies Dividend Announcement

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

Insider Activity at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 2,754 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were 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 directly owns 132,969 shares in the company, valued at approximately $47,515,142.46. This represents a 2.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Christopher J. Kuehn sold 770 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $358.39, for a total transaction of $275,960.30. Following the completion of the sale, the chief financial officer now owns 62,221 shares of the company’s stock, valued at $22,299,384.19. This trade represents a 1.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,234 shares of company stock worth $2,588,102 in the last three months. Company insiders own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TT. Barclays dropped their price target on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. UBS Group lowered their price objective on Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. JPMorgan Chase & Co. lowered their price objective on Trane Technologies from $396.00 to $323.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Citigroup lowered their price objective on Trane Technologies from $476.00 to $415.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Finally, HSBC raised Trane Technologies from a “hold” rating to a “buy” rating and upped their price objective for the company from $405.00 to $415.00 in a research report on Friday. One analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $405.94.

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.