abrdn plc Has $259.15 Million Position in Trane Technologies plc (NYSE:TT)

abrdn plc lifted its stake in shares of Trane Technologies plc (NYSE:TT) by 7.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,062,543 shares of the company’s stock after buying an additional 76,205 shares during the quarter. Trane Technologies comprises about 0.6% of abrdn plc’s investment portfolio, making the stock its 29th biggest position. abrdn plc’s holdings in Trane Technologies were worth $259,154,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Keel Point LLC increased its position in Trane Technologies by 3.0% during the 4th quarter. Keel Point LLC now owns 1,326 shares of the company’s stock worth $323,000 after buying an additional 39 shares during the period. Rosenberg Matthew Hamilton raised its stake in Trane Technologies by 27.2% in the 4th quarter. Rosenberg Matthew Hamilton now owns 192 shares of the company’s stock worth $47,000 after purchasing an additional 41 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in shares of Trane Technologies by 2.3% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,847 shares of the company’s stock worth $450,000 after purchasing an additional 42 shares in the last quarter. Cedrus LLC grew its position in shares of Trane Technologies by 2.6% during the 4th quarter. Cedrus LLC now owns 1,669 shares of the company’s stock worth $407,000 after purchasing an additional 43 shares in the last quarter. Finally, Certuity LLC increased its holdings in shares of Trane Technologies by 3.1% during the third quarter. Certuity LLC now owns 1,549 shares of the company’s stock worth $314,000 after purchasing an additional 46 shares during the period. Institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

TT has been the subject of a number of analyst reports. The Goldman Sachs Group raised their price objective on Trane Technologies from $253.00 to $287.00 and gave the stock a “neutral” rating in a research report on Monday, February 5th. Citigroup boosted their price target on shares of Trane Technologies from $309.00 to $355.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Royal Bank of Canada upped their price objective on shares of Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a research note on Friday, February 2nd. Barclays upped their price target on shares of Trane Technologies from $286.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Finally, Stephens lifted their price objective on Trane Technologies from $235.00 to $280.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $251.83.

Insider Activity

In other Trane Technologies news, CFO Christopher J. Kuehn sold 2,767 shares of Trane Technologies stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $268.31, for a total transaction of $742,413.77. Following the completion of the sale, the chief financial officer now directly owns 54,788 shares in the company, valued at $14,700,168.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Paul A. Camuti sold 508 shares of Trane Technologies stock in a transaction on Friday, February 9th. The shares were sold at an average price of $273.34, for a total value of $138,856.72. Following the transaction, the executive vice president now directly owns 89,447 shares of the company’s stock, valued at $24,449,442.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Christopher J. Kuehn sold 2,767 shares of Trane Technologies stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $268.31, for a total transaction of $742,413.77. Following the sale, the chief financial officer now directly owns 54,788 shares in the company, valued at approximately $14,700,168.28. The disclosure for this sale can be found here. Insiders have sold a total of 29,874 shares of company stock worth $8,462,825 over the last ninety days. Company insiders own 0.39% of the company’s stock.

Trane Technologies Stock Performance

Shares of TT stock traded down $1.29 during trading on Friday, reaching $288.27. 800,778 shares of the company’s stock traded hands, compared to its average volume of 750,544. Trane Technologies plc has a 1 year low of $162.04 and a 1 year high of $306.98. The company has a market capitalization of $65.46 billion, a P/E ratio of 32.80, a PEG ratio of 2.44 and a beta of 1.05. The company has a current ratio of 1.13, a quick ratio of 0.78 and a debt-to-equity ratio of 0.57. The firm’s 50-day moving average is $289.67 and its 200 day moving average is $250.91.

Trane Technologies (NYSE:TT) last posted its earnings results on Thursday, February 1st. The company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.13 by $0.04. The firm had revenue of $4.42 billion for the quarter, compared to the consensus estimate of $4.43 billion. Trane Technologies had a return on equity of 32.01% and a net margin of 11.45%. The business’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.82 earnings per share. Equities research analysts expect that Trane Technologies plc will post 10.2 EPS for the current year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date is Thursday, June 6th. Trane Technologies’s payout ratio is presently 38.23%.

Trane Technologies 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.