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

William Blair Investment Management LLC decreased its stake in Trane Technologies plc (NYSE:TT) by 23.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 96,054 shares of the company’s stock after selling 29,912 shares during the quarter. William Blair Investment Management LLC’s holdings in Trane Technologies were worth $35,478,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of TT. Raymond James Financial Inc. purchased a new stake in Trane Technologies in the fourth quarter worth about $611,322,000. Massachusetts Financial Services Co. MA increased its position in Trane Technologies by 35.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock worth $991,460,000 after buying an additional 671,691 shares in the last quarter. FMR LLC increased its position in Trane Technologies by 4.0% in the third quarter. FMR LLC now owns 10,337,672 shares of the company’s stock worth $4,018,563,000 after buying an additional 397,537 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its position in Trane Technologies by 455.2% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 427,226 shares of the company’s stock worth $167,977,000 after buying an additional 350,277 shares in the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of Trane Technologies by 42.9% in the fourth quarter. Nordea Investment Management AB now owns 978,275 shares of the company’s stock worth $361,874,000 after acquiring an additional 293,916 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their price objective on Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Melius lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective for the company. in a research note on Tuesday, January 28th. Wells Fargo & Company dropped their price objective on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a research note on Friday, January 31st. UBS Group dropped their price objective on Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Finally, Royal Bank of Canada upped their price objective on Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research note on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Trane Technologies currently has an average rating of “Hold” and a consensus price target of $413.69.

Insider Transactions at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 876 shares of the 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 sale, the chief financial officer now directly 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 completion of the sale, the senior vice president now owns 13,401 shares in the company, valued at approximately $4,792,331.61. The trade was a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,234 shares of company stock worth $2,588,102. 0.38% of the stock is currently owned by company insiders.

Trane Technologies Price Performance

NYSE:TT opened at $351.46 on Tuesday. The firm has a market capitalization of $78.83 billion, a price-to-earnings ratio of 31.24, a PEG ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a 1 year low of $286.32 and a 1 year high of $422.00. The business has a 50 day simple moving average of $364.02 and a 200-day simple moving average of $380.16. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) 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%. Equities analysts forecast that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.07%. 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. Trane Technologies’s dividend payout ratio is presently 33.42%.

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.