Massachusetts Financial Services Co. MA Sells 711,655 Shares of Trane Technologies plc (NYSE:TT)

Massachusetts Financial Services Co. MA lessened its stake in shares of Trane Technologies plc (NYSE:TT) by 27.9% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,838,856 shares of the company’s stock after selling 711,655 shares during the period. Massachusetts Financial Services Co. MA owned 0.82% of Trane Technologies worth $679,181,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of Trane Technologies by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 19,235,570 shares of the company’s stock valued at $7,104,658,000 after buying an additional 152,353 shares in the last quarter. State Street Corp lifted its position in shares of Trane Technologies by 0.8% in the third quarter. State Street Corp now owns 9,769,161 shares of the company’s stock valued at $3,797,565,000 after acquiring an additional 77,830 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Trane Technologies by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 4,775,263 shares of the company’s stock worth $1,760,549,000 after acquiring an additional 136,349 shares during the period. Norges Bank purchased a new stake in shares of Trane Technologies during the fourth quarter worth about $1,117,816,000. Finally, Raymond James Financial Inc. bought a new stake in Trane Technologies during the 4th quarter valued at approximately $611,322,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Price Performance

TT stock opened at $348.45 on Thursday. The stock has a market cap of $78.15 billion, a PE ratio of 30.97, a P/E/G ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a 12 month low of $286.32 and a 12 month high of $422.00. The company has a 50-day moving average price of $354.67 and a 200 day moving average price of $379.61. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58.

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

Trane Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 7th were given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.08%. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend was Friday, March 7th. Trane Technologies’s dividend payout ratio (DPR) is 33.42%.

Insider Activity

In related news, SVP Mairead Magner sold 198 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total value of $70,806.78. Following the completion of the sale, the senior vice president now owns 13,401 shares in the company, valued at approximately $4,792,331.61. The trade was a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Evan M. Turtz sold 318 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $358.12, for a total value of $113,882.16. Following the transaction, the senior vice president now owns 20,513 shares in the company, valued at $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 ninety days, insiders sold 7,234 shares of company stock valued at $2,588,102. 0.38% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

TT has been the subject of a number of research analyst reports. Royal Bank of Canada increased their price objective on shares of Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a report on Friday, January 3rd. Melius downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price target on the stock. in a report on Tuesday, January 28th. Wells Fargo & Company dropped their price objective on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a report on Friday, January 31st. Melius Research reaffirmed a “hold” rating and issued a $398.00 target price on shares of Trane Technologies in a report on Tuesday, January 28th. Finally, UBS Group dropped their price target on Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Trane Technologies currently has an average rating of “Hold” and a consensus price target of $413.69.

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.