Figure 8 Investment Strategies LLC Invests $5.16 Million in Trane Technologies plc (NYSE:TT)

Figure 8 Investment Strategies LLC acquired a new stake in Trane Technologies plc (NYSE:TT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,981 shares of the company’s stock, valued at approximately $5,164,000. Trane Technologies accounts for about 5.1% of Figure 8 Investment Strategies LLC’s investment portfolio, making the stock its 4th biggest position.

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

Trane Technologies Trading Down 0.1 %

TT opened at $361.25 on Friday. 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 one year low of $270.50 and a one year high of $422.00. The company has a market cap of $81.29 billion, a P/E ratio of 32.11, a PEG ratio of 2.44 and a beta of 1.05. The business’s 50-day simple moving average is $380.49 and its 200-day simple moving average is $378.02.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, topping analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. As a group, equities research analysts expect that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The business also recently disclosed 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 represents a $3.76 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s dividend payout ratio is currently 29.87%.

Analyst Upgrades and Downgrades

TT has been the topic of several recent analyst reports. Wells Fargo & Company decreased their price objective on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. JPMorgan Chase & Co. upped their price target on Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Hsbc Global Res cut Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Barclays increased their target price on Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Finally, Melius lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price target on the stock. in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Trane Technologies has a consensus rating of “Hold” and an average target price of $415.25.

Insider Transactions at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 2,318 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $358.17, for a total transaction of $830,238.06. Following the transaction, the chief executive officer now directly owns 126,831 shares of the company’s stock, valued at approximately $45,427,059.27. This trade represents a 1.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Evan M. Turtz sold 318 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $358.12, for a total transaction of $113,882.16. Following the completion of the sale, the senior vice president now directly owns 20,513 shares of the company’s stock, valued at $7,346,115.56. The trade was a 1.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,563 shares of company stock worth $4,388,966. Corporate insiders own 0.38% of the company’s stock.

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.