Wellington Management Group LLP Has $229.54 Million Stock Position in Trane Technologies plc (NYSE:TT)

Wellington Management Group LLP cut its stake in Trane Technologies plc (NYSE:TT) by 14.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 621,472 shares of the company’s stock after selling 106,956 shares during the period. Wellington Management Group LLP’s holdings in Trane Technologies were worth $229,541,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Global Wealth Strategies & Associates bought a new stake in Trane Technologies during the fourth quarter worth about $26,000. Sound Income Strategies LLC grew its position in Trane Technologies by 1,314.3% during the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock worth $37,000 after acquiring an additional 92 shares during the last quarter. Flagship Wealth Advisors LLC acquired a new stake in Trane Technologies during the 4th quarter valued at $37,000. Golden State Wealth Management LLC acquired a new position in Trane Technologies in the fourth quarter worth $39,000. Finally, Legacy Investment Solutions LLC bought a new stake in shares of Trane Technologies during the third quarter worth $44,000. Institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TT. UBS Group reduced their price target on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Melius cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price target on the stock. in a research note on Tuesday, January 28th. JPMorgan Chase & Co. boosted their price objective on shares of Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Citigroup decreased their price objective on Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Finally, Wells Fargo & Company dropped 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. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Trane Technologies has an average rating of “Hold” and an average price target of $413.69.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, SVP Mairead Magner sold 198 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total value of $70,806.78. Following 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David S. Regnery sold 2,754 shares of Trane Technologies stock in a transaction that occurred on Tuesday, February 4th. The shares were 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 in the company, 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. Over the last quarter, insiders have sold 7,234 shares of company stock valued at $2,588,102. 0.38% of the stock is currently owned by corporate insiders.

Trane Technologies Trading Up 2.0 %

Shares of NYSE TT opened at $348.45 on Thursday. Trane Technologies plc has a twelve month low of $286.32 and a twelve month high of $422.00. The stock has a market cap of $78.15 billion, a price-to-earnings ratio of 30.97, a P/E/G ratio of 2.50 and a beta of 1.08. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The company’s fifty day moving average is $354.67 and its 200-day moving average is $379.61.

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

Trane Technologies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 7th were issued a dividend of $0.94 per share. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend was Friday, March 7th. Trane Technologies’s dividend payout ratio (DPR) 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.