Trane Technologies plc (NYSE:TT) Stock Position Lessened by Bank of Montreal Can

Bank of Montreal Can reduced its stake in shares of Trane Technologies plc (NYSE:TT) by 8.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 359,068 shares of the company’s stock after selling 34,424 shares during the quarter. Bank of Montreal Can owned about 0.16% of Trane Technologies worth $132,622,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Secured Retirement Advisors LLC raised its position in shares of Trane Technologies by 0.6% during the 4th quarter. Secured Retirement Advisors LLC now owns 4,628 shares of the company’s stock worth $1,709,000 after buying an additional 28 shares in the last quarter. First Citizens Financial Corp increased its stake in shares of Trane Technologies by 4.6% during the fourth quarter. First Citizens Financial Corp now owns 656 shares of the company’s stock valued at $242,000 after acquiring an additional 29 shares during the period. Catalina Capital Group LLC lifted its position in Trane Technologies by 3.2% in the fourth quarter. Catalina Capital Group LLC now owns 924 shares of the company’s stock worth $341,000 after purchasing an additional 29 shares during the period. Stratos Wealth Partners LTD. lifted its position in Trane Technologies by 0.5% in the fourth 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 during the period. Finally, Kanawha Capital Management LLC boosted its stake in Trane Technologies by 0.6% during the 4th quarter. Kanawha Capital Management LLC now owns 4,712 shares of the company’s stock valued at $1,740,000 after purchasing an additional 29 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Stock Down 0.7 %

Shares of Trane Technologies stock opened at $315.77 on Tuesday. 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 plc has a 1 year low of $286.32 and a 1 year high of $422.00. The stock has a 50-day moving average price of $350.60 and a 200 day moving average price of $378.54. The company has a market cap of $70.82 billion, a P/E ratio of 28.07, a P/E/G ratio of 2.50 and a beta of 1.08.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Thursday, January 30th. The company reported $2.61 EPS for the quarter, topping 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%. As a group, analysts expect that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date is Friday, June 6th. Trane Technologies’s dividend payout ratio (DPR) is presently 33.42%.

Analysts Set New Price Targets

TT has been the subject of several research analyst reports. Royal Bank of Canada upped their price objective on Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a report on Friday, January 3rd. Citigroup reduced their price objective on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a research report on Monday, January 13th. UBS Group lowered their price objective on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Wells Fargo & Company cut their target price on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a research note on Friday, January 31st. Finally, Melius Research restated a “hold” rating and issued a $398.00 price target on shares of Trane Technologies in a research report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $413.69.

Insider Buying and Selling

In related news, SVP Mairead Magner sold 198 shares of the 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 transaction, the senior vice president now owns 13,401 shares in the company, valued at approximately $4,792,331.61. This represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Christopher J. Kuehn sold 876 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.42, for a total transaction of $313,099.92. Following the transaction, the chief financial officer now directly owns 63,841 shares in the company, valued at approximately $22,818,050.22. The trade was a 1.35 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,234 shares of company stock worth $2,588,102. Corporate insiders own 0.38% of the company’s stock.

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.