Fayez Sarofim & Co Purchases New Shares in Trane Technologies plc (NYSE:TT)

Fayez Sarofim & Co acquired a new stake in Trane Technologies plc (NYSE:TT) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 952 shares of the company’s stock, valued at approximately $352,000.

Other institutional investors also recently modified their holdings of the company. Global Wealth Strategies & Associates bought a new position in Trane Technologies in the 4th quarter worth approximately $26,000. Sound Income Strategies LLC increased 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 buying an additional 92 shares during the period. Flagship Wealth Advisors LLC acquired a new position in shares of Trane Technologies during the fourth quarter valued at $37,000. Golden State Wealth Management LLC acquired a new position in shares of Trane Technologies during the fourth quarter valued at $39,000. Finally, BankPlus Trust Department bought a new position in Trane Technologies in the fourth quarter valued at about $45,000. 82.97% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO David S. Regnery sold 2,754 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.34, 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 approximately $47,515,142.46. This represents a 2.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Christopher J. Kuehn sold 770 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $358.39, for a total value of $275,960.30. Following the transaction, the chief financial officer now owns 62,221 shares in the company, valued at $22,299,384.19. The trade was a 1.22 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,234 shares of company stock valued at $2,588,102. 0.38% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have issued reports on TT. JPMorgan Chase & Co. cut their target price on shares of Trane Technologies from $396.00 to $323.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Royal Bank of Canada lifted their target price on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a report on Friday, January 3rd. Citigroup dropped their target price on shares of Trane Technologies from $476.00 to $415.00 and set a “buy” rating for the company in a research report on Monday, April 14th. UBS Group reduced their price target on Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Finally, Melius Research reiterated a “hold” rating and issued a $398.00 price objective on shares of Trane Technologies in a report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Trane Technologies has an average rating of “Hold” and a consensus price target of $405.31.

Trane Technologies Trading Down 3.3 %

Trane Technologies stock opened at $322.29 on Tuesday. Trane Technologies plc has a one year low of $288.95 and a one year high of $422.00. The company has a market cap of $72.29 billion, a price-to-earnings ratio of 28.65, a P/E/G ratio of 2.50 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. The firm has a 50-day moving average of $344.19 and a 200-day moving average of $374.20.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) 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, equities analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be given a $0.94 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.17%. Trane Technologies’s payout ratio is 33.42%.

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.