Trane Technologies plc (NYSE:TT) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in shares of Trane Technologies plc (NYSE:TT) by 3.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,906,809 shares of the company’s stock after selling 116,097 shares during the quarter. Bank of New York Mellon Corp owned 1.29% of Trane Technologies worth $1,073,630,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC raised its holdings in shares of Trane Technologies by 4.0% during the third quarter. FMR LLC now owns 10,337,672 shares of the company’s stock worth $4,018,563,000 after purchasing an additional 397,537 shares during the last quarter. State Street Corp grew its position in Trane Technologies by 0.8% during the 3rd quarter. State Street Corp now owns 9,769,161 shares of the company’s stock worth $3,797,565,000 after purchasing an additional 77,830 shares during the period. Geode Capital Management LLC raised its stake in shares of Trane Technologies by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 4,638,914 shares of the company’s stock valued at $1,797,700,000 after buying an additional 65,991 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Trane Technologies by 35.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock valued at $991,460,000 after buying an additional 671,691 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Trane Technologies by 0.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,142,081 shares of the company’s stock worth $832,691,000 after buying an additional 20,151 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TT has been the subject of several recent research reports. Hsbc Global Res cut Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Royal Bank of Canada boosted their target price on shares of Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a research note on Friday, January 3rd. Wells Fargo & Company dropped their price target on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a research report on Friday, January 31st. Melius Research reiterated a “hold” rating and issued a $398.00 price objective on shares of Trane Technologies in a research report on Tuesday, January 28th. Finally, Robert W. Baird lowered their target price on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. One research 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’s stock. Based on data from MarketBeat.com, Trane Technologies currently has an average rating of “Hold” and an average price target of $415.25.

Trane Technologies Stock Performance

Shares of NYSE:TT opened at $346.49 on Tuesday. The business’s 50 day moving average price is $373.78 and its 200-day moving average price is $380.36. Trane Technologies plc has a 1 year low of $279.00 and a 1 year high of $422.00. 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 firm has a market capitalization of $77.72 billion, a PE ratio of 30.80, a P/E/G ratio of 2.50 and a beta of 1.05.

Trane Technologies (NYSE:TT) last announced its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (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, equities research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a $0.94 dividend. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.76 dividend on an annualized basis and a yield of 1.09%. Trane Technologies’s dividend payout ratio is presently 29.87%.

Insiders Place Their Bets

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total value of $1,800,864.00. Following the completion of the sale, the senior vice president now directly owns 12,893 shares of the company’s stock, valued at $5,363,488. This trade represents a 25.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Evan M. Turtz sold 318 shares of Trane Technologies 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 approximately $7,346,115.56. This represents a 1.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,563 shares of company stock valued at $4,388,966 in the last ninety days. 0.38% of the stock is currently owned by corporate insiders.

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.