Franklin Resources Inc. Has $1.04 Billion Stock Holdings in Trane Technologies plc (NYSE:TT)

Franklin Resources Inc. lessened its holdings in shares of Trane Technologies plc (NYSE:TT) by 4.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 2,566,503 shares of the company’s stock after selling 130,558 shares during the period. Franklin Resources Inc. owned approximately 1.14% of Trane Technologies worth $1,039,355,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. MidAtlantic Capital Management Inc. acquired a new position in Trane Technologies in the 3rd quarter valued at approximately $27,000. DT Investment Partners LLC acquired a new position in Trane Technologies in the 3rd quarter valued at approximately $36,000. Triad Wealth Partners LLC acquired a new position in Trane Technologies in the 2nd quarter valued at approximately $39,000. Quarry LP acquired a new position in Trane Technologies in the 2nd quarter valued at approximately $39,000. Finally, Pittenger & Anderson Inc. acquired a new position in Trane Technologies in the 3rd quarter valued at approximately $39,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Stock Down 0.1 %

NYSE TT opened at $399.59 on Friday. The firm has a market cap of $89.92 billion, a PE ratio of 37.07, a price-to-earnings-growth ratio of 2.43 and a beta of 1.03. Trane Technologies plc has a one year low of $233.76 and a one year high of $422.00. The stock’s 50 day simple moving average is $401.83 and its 200 day simple moving average is $363.86. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, beating analysts’ consensus estimates of $3.23 by $0.14. The firm had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period last year, the company earned $2.79 EPS. As a group, sell-side analysts forecast that Trane Technologies plc will post 11.13 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be given a $0.84 dividend. The ex-dividend date is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a yield of 0.84%. Trane Technologies’s payout ratio is 31.17%.

Analyst Upgrades and Downgrades

TT has been the subject of several recent research reports. UBS Group initiated coverage on Trane Technologies in a report on Wednesday, November 13th. They issued a “buy” rating and a $500.00 price target for the company. Hsbc Global Res cut Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Wells Fargo & Company increased their target price on Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Morgan Stanley assumed coverage on Trane Technologies in a report on Friday, September 6th. They issued an “overweight” rating and a $425.00 target price for the company. Finally, Robert W. Baird dropped their target price on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, Trane Technologies has an average rating of “Hold” and an average target price of $409.93.

Insider Buying and Selling at Trane Technologies

In other news, SVP Mairead Magner sold 4,329 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total value of $1,800,864.00. Following the transaction, the senior vice president now owns 12,893 shares of the company’s stock, valued at $5,363,488. This represents a 25.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.38% of the company’s stock.

About Trane Technologies

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.