Mackenzie Financial Corp Has $293.88 Million Stock Holdings in Trane Technologies plc (NYSE:TT)

Mackenzie Financial Corp trimmed its stake in shares of Trane Technologies plc (NYSE:TT) by 32.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 795,660 shares of the company’s stock after selling 390,108 shares during the quarter. Mackenzie Financial Corp owned approximately 0.35% of Trane Technologies worth $293,877,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of TT. Norges Bank bought a new stake in Trane Technologies in the fourth quarter valued at $1,117,816,000. Raymond James Financial Inc. bought a new stake in shares of Trane Technologies in the 4th quarter worth approximately $611,322,000. Northern Trust Corp increased its position in Trane Technologies by 20.1% in the fourth quarter. Northern Trust Corp now owns 2,567,527 shares of the company’s stock worth $948,316,000 after buying an additional 429,953 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in Trane Technologies in the 4th quarter valued at about $137,999,000. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its stake in shares of Trane Technologies by 455.2% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 427,226 shares of the company’s stock valued at $167,977,000 after buying an additional 350,277 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

TT has been the subject of several recent analyst reports. Barclays reduced their target price 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. UBS Group raised their target price on Trane Technologies from $470.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday. HSBC upgraded Trane Technologies from a “hold” rating to a “buy” rating and increased their price objective for the stock from $405.00 to $415.00 in a report on Friday, April 25th. Stephens raised Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 target price on the stock in a research note on Thursday, May 1st. Finally, Melius Research reaffirmed a “hold” rating and issued a $398.00 price target on shares of Trane Technologies in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $427.47.

Insider Buying and Selling

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of Trane Technologies stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the completion of the transaction, the insider now directly owns 3,593 shares of the company’s stock, valued at $1,365,340. The trade was a 49.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.38% of the stock is currently owned by company insiders.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $423.71 on Friday. The firm has a market cap of $94.50 billion, a price-to-earnings ratio of 37.66, a P/E/G ratio of 2.50 and a beta of 1.14. The firm has a fifty day moving average price of $366.28 and a 200 day moving average price of $375.13. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $433.60. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21.

Trane Technologies (NYSE:TT) last posted its earnings results on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.25. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The firm had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.46 billion. During the same period in the prior year, the company earned $1.94 EPS. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. As a group, sell-side analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be given a $0.94 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.76 annualized dividend and a yield of 0.89%. Trane Technologies’s dividend payout ratio is currently 31.28%.

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.