Ensign Peak Advisors Inc Has $846,000 Stake in Trane Technologies plc (NYSE:TT)

Ensign Peak Advisors Inc cut its stake in Trane Technologies plc (NYSE:TT – Get Rating) by 17.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,841 shares of the company’s stock after selling 1,220 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Trane Technologies were worth $846,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Heritage Wealth Management LLC purchased a new position in Trane Technologies during the 2nd quarter worth $31,000. 1832 Asset Management L.P. bought a new position in shares of Trane Technologies during the 1st quarter worth approximately $34,000. CI Investments Inc. boosted its stake in shares of Trane Technologies by 1,007.1% in the 3rd quarter. CI Investments Inc. now owns 310 shares of the company’s stock worth $45,000 after buying an additional 282 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Trane Technologies by 70.4% in the third quarter. EverSource Wealth Advisors LLC now owns 363 shares of the company’s stock valued at $53,000 after acquiring an additional 150 shares in the last quarter. Finally, McClarren Financial Advisors Inc. purchased a new stake in shares of Trane Technologies during the third quarter valued at approximately $56,000. Hedge funds and other institutional investors own 81.47% of the company’s stock.

Trane Technologies Price Performance

TT stock opened at $186.18 on Monday. The firm has a 50 day simple moving average of $181.02 and a two-hundred day simple moving average of $168.93. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.12 and a quick ratio of 0.77. The stock has a market cap of $42.65 billion, a PE ratio of 24.86, a P/E/G ratio of 2.28 and a beta of 1.00. Trane Technologies plc has a one year low of $120.64 and a one year high of $196.22.

Trane Technologies (NYSE:TT – Get Rating) last released its quarterly earnings results on Thursday, February 2nd. The company reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.18. The business had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $3.94 billion. Trane Technologies had a return on equity of 29.14% and a net margin of 10.98%. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter last year, the business posted $1.36 earnings per share. On average, analysts predict that Trane Technologies plc will post 8.35 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Friday, March 3rd will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, March 2nd. This is an increase from Trane Technologies’s previous quarterly dividend of $0.67. This represents a $3.00 annualized dividend and a dividend yield of 1.61%. Trane Technologies’s dividend payout ratio (DPR) is 40.05%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on TT shares. Stephens upped their price objective on Trane Technologies from $170.00 to $185.00 and gave the company an “equal weight” rating in a research note on Monday, February 6th. Barclays lifted their price target on shares of Trane Technologies from $190.00 to $193.00 and gave the stock an “overweight” rating in a report on Thursday, January 5th. Wells Fargo & Company raised their target price on Trane Technologies from $163.00 to $176.00 and gave the stock an “underweight” rating in a research report on Friday, February 3rd. UBS Group upped their price target on Trane Technologies from $200.00 to $224.00 and gave the company a “buy” rating in a research report on Tuesday, March 7th. Finally, Mizuho lifted their price objective on Trane Technologies from $175.00 to $185.00 and gave the stock a “neutral” rating in a report on Friday, February 3rd. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $183.78.

Insider Transactions at Trane Technologies

In related news, SVP Keith A. Sultana sold 279 shares of Trane Technologies stock in a transaction on Friday, February 10th. The shares were sold at an average price of $182.02, for a total value of $50,783.58. Following the transaction, the senior vice president now owns 34,864 shares in the company, valued at approximately $6,345,945.28. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Raymond D. Pittard sold 23,003 shares of Trane Technologies stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $170.42, for a total value of $3,920,171.26. Following the transaction, the executive vice president now directly owns 87,718 shares of the company’s stock, valued at $14,948,901.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Keith A. Sultana sold 279 shares of the stock in a transaction on Friday, February 10th. The shares were sold at an average price of $182.02, for a total transaction of $50,783.58. Following the sale, the senior vice president now directly owns 34,864 shares of the company’s stock, valued at approximately $6,345,945.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,970 shares of company stock worth $6,927,921. 0.74% of the stock is currently owned by insiders.

About Trane Technologies

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Trane Technologies Plc engages in providing solutions to buildings, homes, and transportation. It operates through the following business segments: Americas, EMEA, and Asia Pacific. The Americas segment encompasses commercial heating and cooling systems, building controls, and energy services and solutions, residential heating and cooling, and transport refrigeration systems, and solutions in North America and Latin America regions.