Blair William & Co. IL Raises Stake in Trane Technologies plc (NYSE:TT)

Blair William & Co. IL grew its position in shares of Trane Technologies plc (NYSE:TT) by 7.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,102 shares of the company’s stock after purchasing an additional 1,142 shares during the quarter. Blair William & Co. IL’s holdings in Trane Technologies were worth $6,316,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Caisse Des Depots ET Consignations acquired a new position in Trane Technologies in the 4th quarter worth about $98,560,000. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its stake in shares of Trane Technologies by 86.2% during the 4th quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 3,936 shares of the company’s stock worth $1,454,000 after buying an additional 1,822 shares during the period. Howe & Rusling Inc. lifted its position in shares of Trane Technologies by 3.4% during the 4th quarter. Howe & Rusling Inc. now owns 1,217 shares of the company’s stock valued at $449,000 after buying an additional 40 shares in the last quarter. NEOS Investment Management LLC grew its stake in Trane Technologies by 28.6% in the 4th quarter. NEOS Investment Management LLC now owns 11,150 shares of the company’s stock valued at $4,118,000 after acquiring an additional 2,483 shares during the period. Finally, WINTON GROUP Ltd increased its holdings in Trane Technologies by 203.0% in the 4th quarter. WINTON GROUP Ltd now owns 14,572 shares of the company’s stock worth $5,382,000 after acquiring an additional 9,762 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Melius downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective on the stock. in a report on Tuesday, January 28th. Barclays lowered their price objective on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. UBS Group reduced their target price on Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a report on Friday, January 31st. Citigroup lowered their price target on Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Finally, Royal Bank of Canada increased their price objective on Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a research note on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Trane Technologies presently has an average rating of “Hold” and a consensus target price of $413.69.

Insider Transactions at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 770 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $358.39, for a total value of $275,960.30. Following the completion of the transaction, the chief financial officer now owns 62,221 shares of the company’s stock, valued at approximately $22,299,384.19. This trade represents a 1.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Mairead Magner sold 198 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 13,401 shares in the company, valued at approximately $4,792,331.61. The trade was a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,234 shares of company stock worth $2,588,102 over the last ninety days. Company insiders own 0.38% of the company’s stock.

Trane Technologies Stock Performance

Shares of Trane Technologies stock opened at $331.69 on Monday. The firm has a market cap of $74.40 billion, a PE ratio of 29.48, a price-to-earnings-growth 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 business’s fifty day simple moving average is $357.83 and its 200-day simple moving average is $380.15. 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 earnings per share 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%. Equities 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 paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.13%. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies’s dividend 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.