Mutual of America Capital Management LLC Has $12.71 Million Stock Position in Trane Technologies plc (NYSE:TT)

Mutual of America Capital Management LLC lowered its stake in Trane Technologies plc (NYSE:TT) by 3.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,407 shares of the company’s stock after selling 1,413 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Trane Technologies were worth $12,708,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Global Wealth Strategies & Associates purchased a new position in shares of Trane Technologies in the fourth quarter worth approximately $26,000. MidAtlantic Capital Management Inc. purchased a new position in Trane Technologies during the 3rd quarter worth approximately $27,000. Sound Income Strategies LLC raised its stake in Trane Technologies by 1,314.3% during the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after purchasing an additional 92 shares during the period. Pittenger & Anderson Inc. acquired a new stake in Trane Technologies during the 3rd quarter valued at $39,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Trane Technologies in the fourth quarter worth $39,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insiders Place Their Bets

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of Trane Technologies stock in a transaction that occurred 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 directly owns 12,893 shares of the company’s stock, valued at $5,363,488. The trade was a 25.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Evan M. Turtz sold 318 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $358.12, for a total value 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. This represents a 1.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,563 shares of company stock valued at $4,388,966 in the last quarter. Insiders own 0.38% of the company’s stock.

Trane Technologies Stock Performance

Shares of NYSE TT opened at $354.22 on Friday. The business’s 50-day simple moving average is $371.26 and its 200-day simple moving average is $380.16. 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 $279.00 and a 52 week high of $422.00. The firm has a market cap of $79.45 billion, a price-to-earnings ratio of 31.49, a P/E/G ratio of 2.50 and a beta of 1.05.

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

Trane Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.06%. 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 (DPR) is 29.87%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on TT shares. Wells Fargo & Company dropped their price target on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a research report on Friday, January 31st. JPMorgan Chase & Co. upped their target price on Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Northcoast Research initiated coverage on shares of Trane Technologies in a report on Friday, November 22nd. They set a “buy” rating and a $500.00 price target for the company. Barclays upped their price objective on shares of Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Finally, UBS Group decreased their target price on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a research note on Friday, January 31st. One equities research 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’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $415.25.

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.