Catalyst Capital Advisors LLC Takes $134,000 Position in Trane Technologies plc (NYSE:TT)

Catalyst Capital Advisors LLC bought a new position in shares of Trane Technologies plc (NYSE:TT) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 363 shares of the company’s stock, valued at approximately $134,000.

Several other institutional investors have also added to or reduced their stakes in the stock. MidAtlantic Capital Management Inc. acquired a new stake in shares of Trane Technologies in the third quarter valued at approximately $27,000. Global Wealth Strategies & Associates acquired a new stake in shares of Trane Technologies during the fourth quarter worth $26,000. DT Investment Partners LLC acquired a new stake in shares of Trane Technologies in the third quarter valued at approximately $36,000. Sound Income Strategies LLC boosted its position in shares of Trane Technologies by 1,314.3% during the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock worth $37,000 after acquiring an additional 92 shares in the last quarter. Finally, Pittenger & Anderson Inc. bought a new position in shares of Trane Technologies in the third quarter worth about $39,000. 82.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TT has been the subject of several analyst reports. UBS Group lowered 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. Hsbc Global Res lowered shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. HSBC downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price target on the stock. in a report on Thursday, October 31st. Barclays increased their price objective on Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Finally, JPMorgan Chase & Co. increased their price target on shares of Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Trane Technologies currently has an average rating of “Hold” and a consensus price target of $415.25.

Insiders Place Their Bets

In other news, CEO David S. Regnery sold 2,754 shares of Trane Technologies stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total value of $984,114.36. Following the transaction, the chief executive officer now owns 132,969 shares of the company’s stock, valued at $47,515,142.46. The trade was a 2.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Mairead Magner sold 198 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total value of $70,806.78. Following the sale, the senior vice president now owns 13,401 shares in the company, valued at $4,792,331.61. The trade was a 1.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,563 shares of company stock valued at $4,388,966 over the last three months. 0.38% of the stock is owned by company insiders.

Trane Technologies Price Performance

Trane Technologies stock opened at $363.58 on Tuesday. Trane Technologies plc has a 52-week low of $270.50 and a 52-week high of $422.00. The company has a market cap of $81.81 billion, a price-to-earnings ratio of 32.32, a PEG ratio of 2.44 and a beta of 1.05. The firm’s fifty day moving average is $377.68 and its 200 day moving average is $379.00. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Thursday, January 30th. The company reported $2.61 EPS for the quarter, beating 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%. Sell-side analysts forecast that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be given a $0.94 dividend. 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. This represents a $3.76 dividend on an annualized basis and a yield of 1.03%. Trane Technologies’s dividend payout ratio (DPR) is currently 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.