Quantbot Technologies LP decreased its holdings in Trane Technologies plc (NYSE:TT – Free Report) by 69.5% in the first quarter, Holdings Channel reports. The fund owned 8,106 shares of the company’s stock after selling 18,487 shares during the quarter. Quantbot Technologies LP’s holdings in Trane Technologies were worth $2,731,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in TT. Nuveen LLC bought a new position in shares of Trane Technologies in the 1st quarter valued at about $877,468,000. GAMMA Investing LLC lifted its holdings in shares of Trane Technologies by 35,458.2% in the 1st quarter. GAMMA Investing LLC now owns 2,015,792 shares of the company’s stock valued at $679,161,000 after acquiring an additional 2,010,123 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Trane Technologies by 245.1% in the 1st quarter. Wellington Management Group LLP now owns 2,144,405 shares of the company’s stock valued at $722,493,000 after acquiring an additional 1,522,933 shares during the last quarter. JPMorgan Chase & Co. raised its position in Trane Technologies by 9.8% in the 1st quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company’s stock worth $5,297,235,000 after purchasing an additional 1,408,421 shares during the period. Finally, Northern Trust Corp raised its position in Trane Technologies by 20.1% in the 4th quarter. Northern Trust Corp now owns 2,567,527 shares of the company’s stock worth $948,316,000 after purchasing an additional 429,953 shares during the period. Institutional investors own 82.97% of the company’s stock.
Trane Technologies Price Performance
Shares of TT stock opened at $425.6940 on Thursday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.10 and a quick ratio of 0.76. The company has a market capitalization of $94.72 billion, a P/E ratio of 33.76, a P/E/G ratio of 2.67 and a beta of 1.09. The company’s 50-day simple moving average is $435.60 and its two-hundred day simple moving average is $392.81. Trane Technologies plc has a one year low of $298.15 and a one year high of $476.18.
Trane Technologies Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, September 5th. Trane Technologies’s dividend payout ratio is currently 29.82%.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on the stock. Stephens raised shares of Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 price objective on the stock in a research report on Thursday, May 1st. Northcoast Research lowered shares of Trane Technologies from a “buy” rating to a “neutral” rating in a research report on Friday, August 1st. Citigroup increased their price objective on shares of Trane Technologies from $445.00 to $502.00 and gave the stock a “buy” rating in a research report on Monday, July 14th. Morgan Stanley increased their price objective on shares of Trane Technologies from $445.00 to $520.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Finally, Wells Fargo & Company increased their price objective on shares of Trane Technologies from $370.00 to $410.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 1st. Five investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Trane Technologies presently has a consensus rating of “Hold” and an average target price of $458.60.
Check Out Our Latest Stock Analysis on Trane Technologies
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.
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