E Fund Management Co. Ltd. cut its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 58.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 557 shares of the company's stock after selling 784 shares during the quarter. E Fund Management Co. Ltd.'s holdings in Trane Technologies were worth $206,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of TT. Swedbank AB raised its position in Trane Technologies by 2.8% in the third quarter. Swedbank AB now owns 743,794 shares of the company's stock valued at $289,135,000 after purchasing an additional 20,400 shares during the period. Capital Performance Advisors LLP acquired a new stake in shares of Trane Technologies in the third quarter valued at $66,000. Equitable Trust Co. purchased a new stake in shares of Trane Technologies in the 3rd quarter valued at $220,000. CWA Asset Management Group LLC acquired a new position in Trane Technologies during the 3rd quarter worth about $386,000. Finally, Verdence Capital Advisors LLC boosted its holdings in Trane Technologies by 5.0% during the 3rd quarter. Verdence Capital Advisors LLC now owns 1,362 shares of the company's stock valued at $529,000 after acquiring an additional 65 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.
Trane Technologies stock traded down $6.52 during mid-day trading on Monday, hitting $338.24. The company had a trading volume of 2,055,345 shares, compared to its average volume of 1,616,572. The stock has a market cap of $75.86 billion, a price-to-earnings ratio of 30.07, a PEG 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. Trane Technologies plc has a 1 year low of $279.00 and a 1 year high of $422.00. The business has a fifty day moving average of $367.30 and a 200 day moving average of $380.52.
Trane Technologies (NYSE:TT - Get Free Report) last posted 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, sell-side analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.11%. This is a boost from Trane Technologies's previous quarterly dividend of $0.84. Trane Technologies's payout ratio is 33.42%.
Several analysts have recently issued reports on the stock. Northcoast Research initiated coverage on shares of Trane Technologies in a research report on Friday, November 22nd. They set a "buy" rating and a $500.00 price target on the stock. Melius lowered shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 target price on the stock. in a report on Tuesday, January 28th. Royal Bank of Canada boosted their price target 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. UBS Group reduced their price objective on Trane Technologies from $500.00 to $470.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Finally, Wells Fargo & Company lowered their target price 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. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $413.69.
Check Out Our Latest Stock Analysis on Trane Technologies
In other Trane Technologies news, SVP Mairead Magner sold 198 shares of Trane Technologies 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 transaction, the senior vice president now directly 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Evan M. Turtz sold 318 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $358.12, for a total transaction of $113,882.16. Following the sale, the senior vice president now owns 20,513 shares of the company's stock, valued at $7,346,115.56. This trade represents a 1.53 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 7,234 shares of company stock valued at $2,588,102. Insiders own 0.38% of the company's stock.
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.
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