Invesco Ltd. Decreases Position in Trane Technologies plc (NYSE:TT)

Invesco Ltd. lowered its stake in shares of Trane Technologies plc (NYSE:TT) by 0.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,572,154 shares of the company’s stock after selling 10,657 shares during the quarter. Invesco Ltd.’s holdings in Trane Technologies were worth $580,675,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Kovitz Investment Group Partners LLC purchased a new stake in Trane Technologies in the 3rd quarter worth about $1,438,000. EP Wealth Advisors LLC raised its holdings in shares of Trane Technologies by 37.6% in the third quarter. EP Wealth Advisors LLC now owns 2,054 shares of the company’s stock worth $799,000 after buying an additional 561 shares during the period. MML Investors Services LLC boosted its holdings in Trane Technologies by 12.2% during the 3rd quarter. MML Investors Services LLC now owns 20,767 shares of the company’s stock valued at $8,073,000 after acquiring an additional 2,257 shares during the period. Groupama Asset Managment purchased a new position in Trane Technologies during the 3rd quarter valued at $842,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in Trane Technologies in the third quarter worth $40,519,000. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Price Performance

Shares of TT stock opened at $314.77 on Wednesday. The company has a market cap of $70.60 billion, a P/E ratio of 27.98, a PEG ratio of 2.50 and a beta of 1.08. 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 stock’s 50-day moving average is $348.59 and its 200 day moving average is $377.60. Trane Technologies plc has a 1-year low of $286.32 and a 1-year high of $422.00.

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

Trane Technologies Announces Dividend

The firm also recently declared 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. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend is Friday, June 6th. Trane Technologies’s payout ratio is presently 33.42%.

Insider Activity

In related news, SVP Mairead Magner sold 198 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total value of $70,806.78. Following the completion of the transaction, the senior vice president now directly owns 13,401 shares of the company’s stock, valued at $4,792,331.61. This trade represents a 1.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David S. Regnery sold 2,754 shares of Trane Technologies stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total transaction of $984,114.36. Following the completion of the sale, the chief executive officer now owns 132,969 shares of the company’s stock, valued at $47,515,142.46. This trade represents a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,234 shares of company stock worth $2,588,102. Insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on TT shares. Melius Research reissued a “hold” rating and set a $398.00 target price on shares of Trane Technologies in a research note on Tuesday, January 28th. JPMorgan Chase & Co. reduced their target price on shares of Trane Technologies from $396.00 to $323.00 and set a “neutral” rating on the stock in a research report on Tuesday. Citigroup lowered their price target on Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a report on Monday, January 13th. Wells Fargo & Company decreased their target price on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a research report on Friday, January 31st. Finally, Royal Bank of Canada upped their target price on Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $409.13.

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.