Fullerton Fund Management Co Ltd. Sells 604 Shares of Trane Technologies plc (NYSE:TT)

Fullerton Fund Management Co Ltd. trimmed its stake in shares of Trane Technologies plc (NYSE:TT) by 0.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 68,794 shares of the company’s stock after selling 604 shares during the quarter. Trane Technologies accounts for 0.9% of Fullerton Fund Management Co Ltd.’s portfolio, making the stock its 26th largest holding. Fullerton Fund Management Co Ltd.’s holdings in Trane Technologies were worth $25,409,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Sound Income Strategies LLC raised its stake in shares of Trane Technologies by 1,314.3% in the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after acquiring an additional 92 shares during the last quarter. Flagship Wealth Advisors LLC bought a new position in Trane Technologies in the 4th quarter valued at $37,000. Golden State Wealth Management LLC acquired a new position in Trane Technologies in the fourth quarter worth $39,000. BankPlus Trust Department bought a new stake in shares of Trane Technologies during the fourth quarter worth $45,000. Finally, Centricity Wealth Management LLC bought a new position in shares of Trane Technologies in the fourth quarter valued at about $55,000. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Stock Down 0.3 %

Shares of Trane Technologies stock opened at $404.32 on Friday. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $422.00. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. The company has a market capitalization of $90.17 billion, a P/E ratio of 35.94, a price-to-earnings-growth ratio of 2.50 and a beta of 1.14. The business has a 50-day moving average of $350.05 and a two-hundred day moving average of $372.45.

Trane Technologies (NYSE:TT) last announced its earnings results on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.20 by $0.25. The firm had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.46 billion. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. The business’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period last year, the company posted $1.94 EPS. As a group, equities analysts predict that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be given 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 dividend yield of 0.93%. Trane Technologies’s dividend payout ratio is currently 31.28%.

Analysts Set New Price Targets

TT has been the subject of several research reports. Melius cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective for the company. in a research report on Tuesday, January 28th. Royal Bank of Canada raised their price target on shares of Trane Technologies from $363.00 to $408.00 and gave the company a “sector perform” rating in a report on Thursday, May 1st. Citigroup upped their price objective on Trane Technologies from $415.00 to $445.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Stephens upgraded Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 target price for the company in a research report on Thursday, May 1st. Finally, Barclays lowered their price objective on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Trane Technologies has an average rating of “Moderate Buy” and a consensus target price of $421.07.

Insider Buying and Selling

In other news, insider Donald E. Simmons sold 3,571 shares of the company’s stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the sale, the insider now owns 3,593 shares in the company, valued at $1,365,340. This represents a 49.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Evan M. Turtz sold 318 shares of the business’s stock in a transaction 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 transaction, the senior vice president now owns 20,513 shares in the company, valued at approximately $7,346,115.56. The trade was a 1.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,977 shares of company stock worth $2,577,061. 0.38% of the stock is owned by corporate insiders.

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.