Trane Technologies plc (NYSE:TT) Shares Purchased by Bridgewater Associates LP

Bridgewater Associates LP boosted its holdings in shares of Trane Technologies plc (NYSE:TT) by 42.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,351 shares of the company’s stock after buying an additional 401 shares during the quarter. Bridgewater Associates LP’s holdings in Trane Technologies were worth $499,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of TT. Global Wealth Strategies & Associates acquired a new position in Trane Technologies in the 4th quarter valued at about $26,000. Sound Income Strategies LLC raised its position in shares of Trane Technologies by 1,314.3% in the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after buying an additional 92 shares during the last quarter. Flagship Wealth Advisors LLC purchased a new position in shares of Trane Technologies during the fourth quarter valued at approximately $37,000. Golden State Wealth Management LLC acquired a new stake in Trane Technologies during the fourth quarter worth approximately $39,000. Finally, BankPlus Trust Department purchased a new stake in Trane Technologies in the 4th quarter worth approximately $45,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Up 0.8 %

Shares of NYSE:TT opened at $333.33 on Friday. The company has a market capitalization of $74.76 billion, a price-to-earnings ratio of 29.63, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. The company has a 50 day moving average of $344.98 and a two-hundred day moving average of $374.75. Trane Technologies plc has a 52-week low of $288.95 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 released 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%. As a group, analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be paid a dividend of $0.94 per share. The ex-dividend date is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a yield of 1.13%. Trane Technologies’s dividend payout ratio (DPR) is presently 33.42%.

Insider Buying and Selling at Trane Technologies

In other news, CEO David S. Regnery sold 2,754 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total transaction of $984,114.36. Following the transaction, the chief executive officer now owns 132,969 shares of the company’s stock, valued at approximately $47,515,142.46. This trade represents a 2.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Mairead Magner sold 198 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total value of $70,806.78. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 7,234 shares of company stock valued at $2,588,102 in the last three months. Corporate insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on TT shares. Citigroup reduced their price target on Trane Technologies from $476.00 to $415.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Melius lowered 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. UBS Group cut their price objective 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. Wells Fargo & Company lowered their target price on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a report on Friday, January 31st. Finally, Royal Bank of Canada increased their price target on shares of Trane Technologies from $390.00 to $395.00 and gave the stock 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 given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $405.31.

Trane Technologies 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.