Russell Investments Group Ltd. Sells 72,826 Shares of Trane Technologies plc (NYSE:TT)

Russell Investments Group Ltd. trimmed its holdings in Trane Technologies plc (NYSE:TT) by 15.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 405,541 shares of the company’s stock after selling 72,826 shares during the period. Russell Investments Group Ltd. owned about 0.18% of Trane Technologies worth $77,519,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in TT. Capital Advisors Ltd. LLC lifted its position in Trane Technologies by 453.6% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 155 shares of the company’s stock valued at $30,000 after acquiring an additional 127 shares in the last quarter. Live Oak Investment Partners purchased a new position in shares of Trane Technologies during the fourth quarter valued at approximately $30,000. WealthPLAN Partners LLC bought a new stake in Trane Technologies during the first quarter worth $33,000. Financial Gravity Asset Management Inc. purchased a new stake in Trane Technologies in the 2nd quarter valued at $305,000. Finally, 1832 Asset Management L.P. bought a new position in Trane Technologies during the 1st quarter valued at $34,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO David S. Regnery sold 17,585 shares of Trane Technologies stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $220.00, for a total transaction of $3,868,700.00. Following the completion of the sale, the chief executive officer now directly owns 93,081 shares of the company’s stock, valued at approximately $20,477,820. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Raymond D. Pittard sold 13,144 shares of the company’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $218.24, for a total value of $2,868,546.56. Following the completion of the transaction, the executive vice president now directly owns 82,235 shares in the company, valued at approximately $17,946,966.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David S. Regnery sold 17,585 shares of the stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $220.00, for a total value of $3,868,700.00. Following the transaction, the chief executive officer now owns 93,081 shares in the company, valued at $20,477,820. The disclosure for this sale can be found here. Insiders sold a total of 32,366 shares of company stock valued at $7,093,065 in the last quarter. Corporate insiders own 0.39% of the company’s stock.

Trane Technologies Trading Up 0.4 %

Shares of Trane Technologies stock opened at $226.54 on Friday. The company’s 50-day moving average price is $204.83 and its 200-day moving average price is $194.54. The company has a market cap of $51.55 billion, a price-to-earnings ratio of 26.68, a PEG ratio of 1.85 and a beta of 1.01. Trane Technologies plc has a 12-month low of $162.04 and a 12-month high of $229.94. The company has a current ratio of 1.29, a quick ratio of 0.87 and a debt-to-equity ratio of 0.67.

Trane Technologies (NYSE:TT) last announced its earnings results on Wednesday, November 1st. The company reported $2.79 earnings per share for the quarter, topping analysts’ consensus estimates of $2.66 by $0.13. Trane Technologies had a return on equity of 31.97% and a net margin of 11.30%. The business had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.80 billion. During the same period in the prior year, the company earned $2.27 EPS. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. On average, equities analysts expect that Trane Technologies plc will post 9.01 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 1st will be given a dividend of $0.75 per share. The ex-dividend date is Thursday, November 30th. This represents a $3.00 annualized dividend and a yield of 1.32%. Trane Technologies’s payout ratio is presently 35.34%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on TT shares. HSBC initiated coverage on shares of Trane Technologies in a research report on Friday, September 15th. They set a “buy” rating and a $256.00 price target on the stock. JPMorgan Chase & Co. upgraded Trane Technologies from an “underweight” rating to a “neutral” rating and set a $191.00 price objective for the company in a research note on Friday, October 6th. Wells Fargo & Company cut their price target on shares of Trane Technologies from $195.00 to $190.00 in a report on Monday, October 9th. Barclays raised their price objective on shares of Trane Technologies from $222.00 to $226.00 and gave the stock an “overweight” rating in a report on Thursday, November 2nd. Finally, Bank of America upgraded shares of Trane Technologies from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $187.00 to $210.00 in a research note on Thursday, October 5th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Trane Technologies has an average rating of “Hold” and an average target price of $207.31.

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.