Trane Technologies plc (NYSE:TT) Shares Bought by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC grew its stake in Trane Technologies plc (NYSE:TT) by 1.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,656 shares of the company’s stock after buying an additional 54 shares during the period. Frank Rimerman Advisors LLC’s holdings in Trane Technologies were worth $2,089,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tidal Investments LLC raised its holdings in shares of Trane Technologies by 22.2% in the third quarter. Tidal Investments LLC now owns 15,827 shares of the company’s stock worth $6,152,000 after buying an additional 2,874 shares during the last quarter. Synovus Financial Corp raised its holdings in shares of Trane Technologies by 16.8% in the third quarter. Synovus Financial Corp now owns 8,828 shares of the company’s stock worth $3,431,000 after buying an additional 1,271 shares during the last quarter. Ameritas Advisory Services LLC purchased a new position in shares of Trane Technologies in the fourth quarter worth $468,000. HB Wealth Management LLC raised its holdings in shares of Trane Technologies by 14.3% in the fourth quarter. HB Wealth Management LLC now owns 5,689 shares of the company’s stock worth $2,101,000 after buying an additional 711 shares during the last quarter. Finally, King Wealth Management Group purchased a new position in shares of Trane Technologies in the third quarter worth $1,879,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Up 2.8 %

Shares of NYSE TT opened at $348.48 on Friday. The company’s 50-day simple moving average is $364.65 and its 200-day simple moving average is $379.80. Trane Technologies plc has a 52-week low of $286.32 and a 52-week high of $422.00. The firm has a market cap of $78.16 billion, a price-to-earnings ratio of 30.98, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. 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 earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, beating the consensus estimate 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 predict that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 dividend on an annualized basis and a yield of 1.08%. Trane Technologies’s payout ratio is presently 33.42%.

Insider Buying and Selling

In related news, CFO Christopher J. Kuehn sold 770 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $358.39, for a total transaction of $275,960.30. Following the transaction, the chief financial officer now directly owns 62,221 shares in the company, valued at approximately $22,299,384.19. The trade was a 1.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $70,806.78. Following the transaction, the senior vice president now directly owns 13,401 shares in the company, valued at $4,792,331.61. This trade represents a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,234 shares of company stock worth $2,588,102. 0.38% of the stock is owned by insiders.

Analyst Ratings Changes

TT has been the subject of several recent research reports. UBS Group reduced their target price on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a report on Friday, January 31st. Royal Bank of Canada raised 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 reduced their target price on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a report on Monday, January 13th. Melius cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price for the company. in a report on Tuesday, January 28th. Finally, Northcoast Research initiated coverage on shares of Trane Technologies in a report on Friday, November 22nd. They set a “buy” rating and a $500.00 target price for the company. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target 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.