Fortress Financial Group LLC Purchases New Shares in Trane Technologies plc (NYSE:TT)

Fortress Financial Group LLC acquired a new position in shares of Trane Technologies plc (NYSE:TT) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 564 shares of the company’s stock, valued at approximately $208,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Swedbank AB raised its position in shares of Trane Technologies by 2.8% in the third quarter. Swedbank AB now owns 743,794 shares of the company’s stock valued at $289,135,000 after buying an additional 20,400 shares in the last quarter. Diversify Advisory Services LLC raised its holdings in Trane Technologies by 24.1% in the 3rd quarter. Diversify Advisory Services LLC now owns 1,004 shares of the company’s stock valued at $394,000 after acquiring an additional 195 shares in the last quarter. MONECO Advisors LLC acquired a new position in Trane Technologies in the 3rd quarter valued at $319,000. Fidelis Capital Partners LLC lifted its position in shares of Trane Technologies by 4.6% during the 3rd quarter. Fidelis Capital Partners LLC now owns 1,025 shares of the company’s stock valued at $406,000 after acquiring an additional 45 shares during the period. Finally, Nicholas Hoffman & Company LLC. acquired a new stake in shares of Trane Technologies during the 3rd quarter worth $203,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Christopher J. Kuehn sold 876 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were 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 in the company, valued at $22,818,050.22. The trade was a 1.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Mairead Magner sold 198 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total transaction of $70,806.78. Following the transaction, the senior vice president now directly owns 13,401 shares in the company, valued at approximately $4,792,331.61. This represents a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,563 shares of company stock worth $4,388,966. Company insiders own 0.38% of the company’s stock.

Trane Technologies Trading Down 1.7 %

Shares of TT stock opened at $344.64 on Friday. The stock has a 50-day moving average of $371.72 and a 200-day moving average of $380.02. Trane Technologies plc has a 1-year low of $279.00 and a 1-year high of $422.00. The stock has a market cap of $77.30 billion, a price-to-earnings ratio of 30.63, a PEG ratio of 2.50 and a beta of 1.05. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) 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, equities research analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a dividend of $0.94 per share. The ex-dividend date is Friday, March 7th. This represents a $3.76 dividend on an annualized basis and a yield of 1.09%. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s dividend payout ratio is 29.87%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Northcoast Research started coverage on shares of Trane Technologies in a research report on Friday, November 22nd. They set a “buy” rating and a $500.00 price objective for the company. Wells Fargo & Company lowered their price objective on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a research report on Friday, January 31st. HSBC downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price on the stock. in a report on Thursday, October 31st. Robert W. Baird dropped their price objective on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. lifted their target price on 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 issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $415.25.

Trane Technologies 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.