Stonebridge Financial Group LLC Purchases New Position in Trane Technologies plc (NYSE:TT)

Stonebridge Financial Group LLC acquired a new position in shares of Trane Technologies plc (NYSE:TT) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 545 shares of the company’s stock, valued at approximately $201,000.

Several other institutional investors and hedge funds have also modified their holdings of TT. MidAtlantic Capital Management Inc. bought a new stake in Trane Technologies during the 3rd quarter worth about $27,000. Global Wealth Strategies & Associates bought a new position in Trane Technologies in the fourth quarter valued at about $26,000. DT Investment Partners LLC bought a new stake in Trane Technologies during the 3rd quarter worth about $36,000. Sound Income Strategies LLC raised its stake in shares of Trane Technologies by 1,314.3% during the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock worth $37,000 after buying an additional 92 shares during the last quarter. Finally, Pittenger & Anderson Inc. bought a new position in Trane Technologies in the third quarter valued at approximately $39,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TT. Royal Bank of Canada increased their price target on Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a research note on Friday, January 3rd. UBS Group decreased their target price on Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Wells Fargo & Company lowered their target price on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a research note on Friday, January 31st. Hsbc Global Res lowered shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Finally, Citigroup dropped their price objective on Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $415.25.

Insiders Place Their Bets

In other Trane Technologies news, CFO Christopher J. Kuehn sold 876 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total transaction of $313,099.92. Following the transaction, the chief financial officer now owns 63,841 shares of the company’s stock, valued at $22,818,050.22. The trade was a 1.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David S. Regnery sold 2,754 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total value of $984,114.36. Following the sale, the chief executive officer now owns 132,969 shares in the company, valued at approximately $47,515,142.46. This represents a 2.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,563 shares of company stock valued at $4,388,966 in the last three months. 0.38% of the stock is currently owned by corporate insiders.

Trane Technologies Stock Up 1.1 %

NYSE:TT opened at $364.55 on Wednesday. The company has a market cap of $82.03 billion, a PE ratio of 32.40, a PEG ratio of 2.44 and a beta of 1.05. The stock has a 50-day simple moving average of $382.56 and a 200 day simple moving average of $377.89. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. Trane Technologies plc has a 52-week low of $265.37 and a 52-week high of $422.00.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, topping the consensus estimate 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 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be paid a $0.94 dividend. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 annualized dividend and a yield of 1.03%. The ex-dividend date is Friday, March 7th. Trane Technologies’s payout ratio is presently 29.87%.

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.