Harvest Fund Management Co. Ltd Sells 315 Shares of Trane Technologies plc (NYSE:TT)

Harvest Fund Management Co. Ltd lowered its holdings in shares of Trane Technologies plc (NYSE:TT) by 7.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,879 shares of the company’s stock after selling 315 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Trane Technologies were worth $1,433,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of TT. Swedbank AB boosted its stake in Trane Technologies by 2.8% during the third quarter. Swedbank AB now owns 743,794 shares of the company’s stock worth $289,135,000 after acquiring an additional 20,400 shares in the last quarter. Pathstone Holdings LLC boosted its stake in Trane Technologies by 9.9% during the third quarter. Pathstone Holdings LLC now owns 41,808 shares of the company’s stock worth $16,252,000 after acquiring an additional 3,766 shares in the last quarter. Caprock Group LLC boosted its stake in Trane Technologies by 36.3% during the third quarter. Caprock Group LLC now owns 5,264 shares of the company’s stock worth $2,046,000 after acquiring an additional 1,401 shares in the last quarter. West Family Investments Inc. boosted its stake in Trane Technologies by 17.2% during the third quarter. West Family Investments Inc. now owns 1,072 shares of the company’s stock worth $417,000 after acquiring an additional 157 shares in the last quarter. Finally, Avior Wealth Management LLC lifted its stake in shares of Trane Technologies by 18.2% in the third quarter. Avior Wealth Management LLC now owns 1,186 shares of the company’s stock worth $461,000 after buying an additional 183 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Royal Bank of Canada upped their target price on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research note on Friday, January 3rd. Melius downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price on the stock. in a research note on Tuesday, January 28th. Melius Research reiterated a “hold” rating and issued a $398.00 target price on shares of Trane Technologies in a research note on Tuesday, January 28th. JPMorgan Chase & Co. upped their target price on shares of Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Finally, UBS Group dropped their target price 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. One 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. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $413.69.

Insider Buying and Selling at Trane Technologies

In other news, SVP Mairead Magner sold 198 shares of the stock in a transaction 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 sale, the senior vice president now directly owns 13,401 shares of the company’s stock, valued at $4,792,331.61. This represents a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Christopher J. Kuehn sold 770 shares of Trane Technologies stock in a transaction on Monday, February 10th. The shares were sold at an average price of $358.39, for a total transaction of $275,960.30. Following the transaction, the chief financial officer now owns 62,221 shares in the company, valued at approximately $22,299,384.19. This trade represents a 1.22 % 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 valued at $2,588,102. Insiders own 0.38% of the company’s stock.

Trane Technologies Stock Up 1.8 %

Shares of TT stock opened at $350.28 on Thursday. Trane Technologies plc has a 12 month low of $286.32 and a 12 month high of $422.00. The stock has a market cap of $78.56 billion, a P/E ratio of 31.14, a P/E/G ratio of 2.50 and a beta of 1.08. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The company has a 50 day simple moving average of $362.58 and a two-hundred day simple moving average of $379.83.

Trane Technologies (NYSE:TT) last announced 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 net margin of 12.94% and a return on equity of 35.37%. On average, research analysts expect 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 will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a dividend of $0.94 per share. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies’s dividend payout ratio is currently 33.42%.

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.