Dorsey Wright & Associates Buys 565 Shares of Trane Technologies plc (NYSE:TT)

Dorsey Wright & Associates raised its position in shares of Trane Technologies plc (NYSE:TT) by 4.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,776 shares of the company’s stock after purchasing an additional 565 shares during the period. Trane Technologies makes up approximately 1.3% of Dorsey Wright & Associates’ holdings, making the stock its 23rd largest holding. Dorsey Wright & Associates’ holdings in Trane Technologies were worth $5,458,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in TT. Global Wealth Strategies & Associates purchased a new position in shares of Trane Technologies during the 4th quarter valued at about $26,000. Sound Income Strategies LLC grew its position in Trane Technologies by 1,314.3% during the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after acquiring an additional 92 shares during the last quarter. Flagship Wealth Advisors LLC bought a new stake in shares of Trane Technologies in the 4th quarter worth approximately $37,000. Golden State Wealth Management LLC purchased a new stake in shares of Trane Technologies in the 4th quarter valued at $39,000. Finally, Legacy Investment Solutions LLC bought a new position in shares of Trane Technologies during the 3rd quarter valued at $44,000. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Price Performance

Shares of TT stock opened at $331.69 on Friday. The business’s fifty day moving average is $357.83 and its 200 day moving average is $379.96. 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 stock has a market cap of $74.40 billion, a price-to-earnings ratio of 29.48, a PEG ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a twelve month low of $286.32 and a twelve month high of $422.00.

Trane Technologies (NYSE:TT) last released its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, topping 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%. Research analysts expect that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be given a $0.94 dividend. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies’s payout ratio is currently 33.42%.

Insider Buying and Selling

In other news, SVP Evan M. Turtz sold 318 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $358.12, for a total transaction of $113,882.16. Following the sale, the senior vice president now owns 20,513 shares in the company, valued at $7,346,115.56. This represents a 1.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Mairead Magner sold 198 shares of the business’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 completion of the transaction, the senior vice president now owns 13,401 shares of the company’s stock, 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 have sold 7,234 shares of company stock worth $2,588,102 in the last 90 days. Insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TT. UBS Group cut their price target on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Royal Bank of Canada raised their price target on Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. boosted their price objective on Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Melius Research restated a “hold” rating and issued a $398.00 target price on shares of Trane Technologies in a report on Tuesday, January 28th. Finally, Wells Fargo & Company lowered their price target 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. One equities 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 MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $413.69.

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.