Mizuho Securities USA LLC Grows Position in Trane Technologies plc (NYSE:TT)

Mizuho Securities USA LLC raised its stake in shares of Trane Technologies plc (NYSE:TT) by 45.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,327 shares of the company’s stock after acquiring an additional 6,694 shares during the quarter. Mizuho Securities USA LLC’s holdings in Trane Technologies were worth $7,877,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in TT. Swedbank AB lifted its stake in shares of Trane Technologies by 2.8% during the third quarter. Swedbank AB now owns 743,794 shares of the company’s stock worth $289,135,000 after buying an additional 20,400 shares during the period. Advisors Asset Management Inc. lifted its stake in shares of Trane Technologies by 23.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 3,728 shares of the company’s stock valued at $1,449,000 after purchasing an additional 714 shares during the period. Citizens Financial Group Inc. RI boosted its stake in shares of Trane Technologies by 41.9% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 2,405 shares of the company’s stock worth $935,000 after acquiring an additional 710 shares in the last quarter. Icon Wealth Advisors LLC raised its stake in shares of Trane Technologies by 172.8% during the 3rd quarter. Icon Wealth Advisors LLC now owns 5,132 shares of the company’s stock worth $1,995,000 after buying an additional 3,251 shares during the period. Finally, Stonebrook Private Inc. grew its stake in Trane Technologies by 0.9% in the 3rd quarter. Stonebrook Private Inc. now owns 5,348 shares of the company’s stock valued at $2,079,000 after acquiring an additional 49 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TT has been the subject of a number of research reports. Barclays cut their target price on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. Melius Research reissued a “hold” rating and issued a $398.00 price objective on shares of Trane Technologies in a research note on Tuesday, January 28th. Citigroup decreased their price objective on Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Melius lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price for the company. in a report on Tuesday, January 28th. Finally, UBS Group decreased their price target on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $413.69.

Trane Technologies Stock Down 0.6 %

Shares of NYSE:TT opened at $347.30 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $77.90 billion, a P/E ratio of 30.87, a P/E/G ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a 52-week low of $286.32 and a 52-week high of $422.00. The stock’s fifty day simple moving average is $361.24 and its 200-day simple moving average is $379.75.

Trane Technologies (NYSE:TT) last released its earnings results on Thursday, January 30th. The company reported $2.61 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%. As a group, equities research analysts forecast 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. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.76 dividend on an annualized basis and a yield of 1.08%. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s dividend payout ratio (DPR) is presently 33.42%.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, 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 transaction of $70,806.78. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Christopher J. Kuehn sold 770 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $358.39, for a total transaction of $275,960.30. Following the transaction, the chief financial officer now directly owns 62,221 shares in the company, valued at approximately $22,299,384.19. The trade was a 1.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,234 shares of company stock valued at $2,588,102. Company insiders own 0.38% of the company’s stock.

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.