Horizon Investments LLC Buys 3,520 Shares of Trane Technologies plc (NYSE:TT)

Horizon Investments LLC raised its stake in Trane Technologies plc (NYSE:TT) by 61.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,221 shares of the company’s stock after buying an additional 3,520 shares during the period. Horizon Investments LLC’s holdings in Trane Technologies were worth $3,406,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Global Wealth Strategies & Associates purchased a new stake in Trane Technologies in the fourth quarter worth approximately $26,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Trane Technologies in the 3rd quarter worth approximately $27,000. Sound Income Strategies LLC boosted its stake in shares of Trane Technologies by 1,314.3% in 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 in the last quarter. Flagship Wealth Advisors LLC purchased a new position in Trane Technologies in the 4th quarter worth $37,000. Finally, Golden State Wealth Management LLC bought a new stake in Trane Technologies in the fourth quarter worth $39,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

TT has been the topic of a number of recent research reports. Melius Research reaffirmed a “hold” rating and set a $398.00 price objective on shares of Trane Technologies in a research note on Tuesday, January 28th. Melius cut 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. JPMorgan Chase & Co. boosted their price objective on Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. UBS Group cut their target price on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Finally, 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 target for the company. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $413.69.

Insider Transactions at Trane Technologies

In related news, SVP Evan M. Turtz sold 318 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $358.12, for a total value of $113,882.16. Following the sale, the senior vice president now owns 20,513 shares in the company, valued at $7,346,115.56. This represents a 1.53 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO David S. Regnery sold 2,754 shares of Trane Technologies stock in a transaction 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 disclosure for this sale can be found here. Insiders have sold 7,234 shares of company stock valued at $2,588,102 in the last three months. 0.38% of the stock is currently owned by company insiders.

Trane Technologies Price Performance

Shares of NYSE TT opened at $344.27 on Wednesday. Trane Technologies plc has a 1 year low of $286.32 and a 1 year high of $422.00. The stock has a market capitalization of $77.22 billion, a P/E ratio of 30.60, a P/E/G ratio of 2.50 and a beta of 1.08. The company’s 50-day moving average is $363.30 and its 200 day moving average is $380.04. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88.

Trane Technologies (NYSE:TT) last posted its earnings results 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 return on equity of 35.37% and a net margin of 12.94%. On average, sell-side analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s payout ratio is 33.42%.

About Trane Technologies

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.