Jennison Associates LLC Sells 902 Shares of Trane Technologies plc (NYSE:TT)

Jennison Associates LLC lowered its position in Trane Technologies plc (NYSE:TT) by 19.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,850 shares of the company’s stock after selling 902 shares during the quarter. Jennison Associates LLC’s holdings in Trane Technologies were worth $1,156,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of TT. Graypoint LLC boosted its position in shares of Trane Technologies by 62.3% in the first quarter. Graypoint LLC now owns 3,880 shares of the company’s stock valued at $1,165,000 after acquiring an additional 1,490 shares during the period. Consolidated Planning Corp boosted its holdings in Trane Technologies by 4.0% in the 1st quarter. Consolidated Planning Corp now owns 10,229 shares of the company’s stock valued at $3,071,000 after purchasing an additional 398 shares during the period. Nordea Investment Management AB grew its position in shares of Trane Technologies by 3.0% during the 1st quarter. Nordea Investment Management AB now owns 453,212 shares of the company’s stock worth $135,796,000 after purchasing an additional 13,078 shares in the last quarter. Fidelis Capital Partners LLC increased its holdings in shares of Trane Technologies by 10.7% during the first quarter. Fidelis Capital Partners LLC now owns 929 shares of the company’s stock worth $279,000 after purchasing an additional 90 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. raised its position in shares of Trane Technologies by 4.7% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,803 shares of the company’s stock valued at $1,742,000 after buying an additional 258 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

TT has been the topic of a number of analyst reports. UBS Group increased their price target on Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, June 3rd. TD Cowen increased their target price on Trane Technologies from $325.00 to $360.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Robert W. Baird boosted their price target on Trane Technologies from $315.00 to $344.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Wells Fargo & Company raised their target price on shares of Trane Technologies from $281.00 to $295.00 and gave the company an “underweight” rating in a report on Thursday, May 2nd. Finally, Citigroup lifted their price objective on shares of Trane Technologies from $355.00 to $366.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $309.79.

Trane Technologies Price Performance

Shares of TT opened at $333.71 on Wednesday. Trane Technologies plc has a 52-week low of $184.02 and a 52-week high of $345.46. The firm has a market cap of $75.54 billion, a PE ratio of 35.65, a price-to-earnings-growth ratio of 2.58 and a beta of 1.01. The business’s 50 day moving average price is $329.30 and its two-hundred day moving average price is $294.81. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.74 and a current ratio of 1.13.

Trane Technologies (NYSE:TT) last posted its earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.30. The company had revenue of $4.22 billion for the quarter, compared to analyst estimates of $3.99 billion. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. During the same quarter last year, the company earned $1.41 earnings per share. The company’s revenue for the quarter was up 15.0% on a year-over-year basis. On average, equities analysts anticipate that Trane Technologies plc will post 10.48 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $3.36 annualized dividend and a dividend yield of 1.01%. Trane Technologies’s payout ratio is currently 35.90%.

Insider Activity at Trane Technologies

In other Trane Technologies news, SVP Evan M. Turtz sold 8,988 shares of the business’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $321.30, for a total value of $2,887,844.40. Following the sale, the senior vice president now directly owns 20,758 shares in the company, valued at $6,669,545.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Trane Technologies news, SVP Evan M. Turtz sold 8,988 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $321.30, for a total transaction of $2,887,844.40. Following the completion of the transaction, the senior vice president now owns 20,758 shares in the company, valued at $6,669,545.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Christopher J. Kuehn sold 4,000 shares of Trane Technologies stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $318.67, for a total transaction of $1,274,680.00. Following the completion of the transaction, the chief financial officer now owns 61,293 shares of the company’s stock, valued at approximately $19,532,240.31. The disclosure for this sale can be found here. 0.38% of the stock is owned by company insiders.

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.