William Blair Investment Management LLC Trims Stake in Trane Technologies plc (NYSE:TT)

William Blair Investment Management LLC reduced its position in shares of Trane Technologies plc (NYSE:TT) by 23.7% during the 4th quarter, HoldingsChannel reports. The firm owned 96,054 shares of the company’s stock after selling 29,912 shares during the period. William Blair Investment Management LLC’s holdings in Trane Technologies were worth $35,478,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of TT. Raymond James Financial Inc. bought a new stake in Trane Technologies during the 4th quarter valued at $611,322,000. Massachusetts Financial Services Co. MA boosted its position in 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 acquiring an additional 671,691 shares in the last quarter. FMR LLC boosted its position in Trane Technologies by 4.0% during the 3rd quarter. FMR LLC now owns 10,337,672 shares of the company’s stock valued at $4,018,563,000 after acquiring an additional 397,537 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its position in Trane Technologies by 455.2% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 427,226 shares of the company’s stock valued at $167,977,000 after acquiring an additional 350,277 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in Trane Technologies by 42.9% during the 4th quarter. Nordea Investment Management AB now owns 978,275 shares of the company’s stock valued at $361,874,000 after acquiring an additional 293,916 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

TT has been the topic of several recent research reports. Wells Fargo & Company dropped their target price on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a research report on Friday, January 31st. JPMorgan Chase & Co. raised their price objective on Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Melius Research reissued a “hold” rating and issued a $398.00 price objective on shares of Trane Technologies in a research report on Tuesday, January 28th. Northcoast Research assumed coverage on Trane Technologies in a research report on Friday, November 22nd. They issued a “buy” rating and a $500.00 price objective for the company. Finally, Barclays lowered their price target on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $413.69.

Insiders Place Their Bets

In other news, CEO David S. Regnery sold 2,754 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total transaction of $984,114.36. Following the transaction, the chief executive officer now directly owns 132,969 shares in the company, valued at $47,515,142.46. The trade was a 2.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Christopher J. Kuehn sold 876 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total value of $313,099.92. Following the transaction, the chief financial officer now owns 63,841 shares in the company, valued at approximately $22,818,050.22. This represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 7,234 shares of company stock worth $2,588,102. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Price Performance

Shares of Trane Technologies stock opened at $351.46 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. Trane Technologies plc has a twelve month low of $286.32 and a twelve month high of $422.00. The business has a 50-day moving average price of $364.02 and a 200 day moving average price of $380.16. The firm has a market cap of $78.83 billion, a PE ratio of 31.24, a P/E/G ratio of 2.50 and a beta of 1.08.

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

Trane Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be paid a dividend of $0.94 per share. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 annualized dividend and a yield of 1.07%. The ex-dividend date is Friday, March 7th. Trane Technologies’s payout ratio is 33.42%.

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.