Navellier & Associates Inc. decreased its holdings in Trane Technologies plc (NYSE:TT – Get Rating) by 1.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 63,699 shares of the company’s stock after selling 1,025 shares during the period. Trane Technologies comprises approximately 1.9% of Navellier & Associates Inc.’s investment portfolio, making the stock its 5th biggest holding. Navellier & Associates Inc.’s holdings in Trane Technologies were worth $12,869,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the stock. Quantitative Investment Management LLC bought a new position in Trane Technologies in the fourth quarter worth approximately $1,319,000. Clearstead Advisors LLC grew its holdings in Trane Technologies by 7.1% in the fourth quarter. Clearstead Advisors LLC now owns 5,672 shares of the company’s stock worth $1,146,000 after purchasing an additional 378 shares during the last quarter. Blair William & Co. IL grew its holdings in Trane Technologies by 12.8% in the fourth quarter. Blair William & Co. IL now owns 16,232 shares of the company’s stock worth $3,279,000 after purchasing an additional 1,843 shares during the last quarter. Eventide Asset Management LLC grew its holdings in Trane Technologies by 14.6% in the fourth quarter. Eventide Asset Management LLC now owns 733,200 shares of the company’s stock worth $148,128,000 after purchasing an additional 93,200 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new position in Trane Technologies in the fourth quarter worth $501,000. 80.55% of the stock is owned by institutional investors.
NYSE:TT traded up $2.74 during midday trading on Thursday, hitting $136.64. 40,695 shares of the company were exchanged, compared to its average volume of 1,614,071. The company has a fifty day simple moving average of $145.58 and a 200 day simple moving average of $166.78. Trane Technologies plc has a fifty-two week low of $128.13 and a fifty-two week high of $207.06. The company has a current ratio of 1.31, a quick ratio of 0.91 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $31.95 billion, a PE ratio of 22.28, a price-to-earnings-growth ratio of 1.65 and a beta of 1.03.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Friday, June 3rd will be issued a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Thursday, June 2nd. Trane Technologies’s payout ratio is 44.59%.
TT has been the topic of a number of research analyst reports. Citigroup dropped their price objective on shares of Trane Technologies from $205.00 to $190.00 in a report on Thursday, May 5th. Barclays decreased their target price on shares of Trane Technologies from $180.00 to $165.00 and set an “overweight” rating for the company in a research report on Tuesday. Wolfe Research decreased their target price on shares of Trane Technologies from $210.00 to $202.00 and set a “peer perform” rating for the company in a research report on Tuesday, February 1st. Credit Suisse Group decreased their target price on shares of Trane Technologies from $194.00 to $178.00 in a research report on Thursday, May 5th. Finally, Wells Fargo & Company decreased their price objective on shares of Trane Technologies from $153.00 to $131.00 in a research report on Monday, May 9th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $184.07.
Trane Technologies Profile (Get Rating)
Trane Technologies plc, together with its subsidiaries, engages in the designing, manufacturing, selling, and servicing of solutions for heating, ventilation, air conditioning, and transport refrigeration. It offers air conditioners, exchangers, and handlers; airside and terminal devices; auxiliary power units; chillers; coils and condensers; gensets; furnaces; heat pumps; home automation products; humidifiers; hybrid and non-diesel transport refrigeration, and ice energy storage solutions; indoor air quality assessments and related products; large and light commercial unitary products; motor replacements; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.
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