Groupama Asset Managment Raises Holdings in Trane Technologies plc (NYSE:TT)

Groupama Asset Managment increased its position in Trane Technologies plc (NYSE:TT) by 307.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,829 shares of the company’s stock after buying an additional 6,664 shares during the period. Groupama Asset Managment’s holdings in Trane Technologies were worth $3,274,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Public Sector Pension Investment Board lifted its position in Trane Technologies by 14.0% during the third quarter. Public Sector Pension Investment Board now owns 9,772 shares of the company’s stock valued at $3,799,000 after purchasing an additional 1,200 shares during the last quarter. Captrust Financial Advisors raised its position in shares of Trane Technologies by 13.4% during the 3rd quarter. Captrust Financial Advisors now owns 15,221 shares of the company’s stock valued at $5,917,000 after buying an additional 1,804 shares in the last quarter. Edgestream Partners L.P. bought a new position in shares of Trane Technologies in the 3rd quarter valued at about $519,000. Tradition Wealth Management LLC purchased a new position in Trane Technologies in the third quarter worth about $232,000. Finally, Benjamin Edwards Inc. increased its stake in Trane Technologies by 311,900.0% during the third quarter. Benjamin Edwards Inc. now owns 9,360 shares of the company’s stock worth $3,639,000 after acquiring an additional 9,357 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Trane Technologies Stock Up 1.5 %

Shares of NYSE:TT opened at $341.89 on Wednesday. The business’s 50 day moving average is $355.69 and its 200 day moving average is $379.83. The stock has a market cap of $76.68 billion, a P/E ratio of 30.39, 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 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 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%. Sell-side analysts predict that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 7th were issued a $0.94 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $3.76 annualized dividend and a dividend yield of 1.10%. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s payout ratio is currently 33.42%.

Insider Transactions at Trane Technologies

In other Trane Technologies news, SVP Mairead Magner sold 198 shares of Trane Technologies stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Christopher J. Kuehn sold 876 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total transaction of $313,099.92. Following the completion of the transaction, the chief financial officer now owns 63,841 shares of the company’s stock, valued at $22,818,050.22. This represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,234 shares of company stock valued at $2,588,102. Company insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

TT has been the subject of a number of recent research reports. Melius Research reiterated a “hold” rating and issued a $398.00 target price on shares of Trane Technologies in a report on Tuesday, January 28th. UBS Group dropped their price objective 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. JPMorgan Chase & Co. increased their target price on shares of Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Wells Fargo & Company dropped their price target on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a research note on Friday, January 31st. Finally, Melius lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective on the stock. in a research report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Trane Technologies presently has a consensus rating of “Hold” and a consensus price target of $413.69.

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.