Bedell Frazier Investment Counselling LLC Grows Stock Position in Trane Technologies plc (NYSE:TT)

Bedell Frazier Investment Counselling LLC raised its position in Trane Technologies plc (NYSE:TT) by 45.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,347 shares of the company’s stock after buying an additional 732 shares during the quarter. Bedell Frazier Investment Counselling LLC’s holdings in Trane Technologies were worth $867,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Meeder Asset Management Inc. boosted its holdings in Trane Technologies by 0.7% in the 4th quarter. Meeder Asset Management Inc. now owns 11,408 shares of the company’s stock valued at $4,214,000 after purchasing an additional 84 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in shares of Trane Technologies by 36.4% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 30,427 shares of the company’s stock valued at $11,238,000 after buying an additional 8,121 shares during the period. Dorsey Wright & Associates boosted its stake in shares of Trane Technologies by 4.0% in the fourth quarter. Dorsey Wright & Associates now owns 14,776 shares of the company’s stock valued at $5,458,000 after buying an additional 565 shares in the last quarter. Schroder Investment Management Group grew its holdings in Trane Technologies by 0.9% during the fourth quarter. Schroder Investment Management Group now owns 282,394 shares of the company’s stock worth $104,729,000 after acquiring an additional 2,586 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its position in Trane Technologies by 3.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,082,753 shares of the company’s stock worth $399,915,000 after acquiring an additional 34,832 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

TT has been the topic of a number of recent analyst reports. Wells Fargo & Company lowered their price target on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a research note on Friday, January 31st. 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. Royal Bank of Canada boosted their price target on Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research note on Friday, January 3rd. UBS Group dropped their price objective on Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Finally, Melius Research reiterated a “hold” rating and set a $398.00 target price on shares of Trane Technologies 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 stock. According to data from MarketBeat.com, Trane Technologies has an average rating of “Hold” and a consensus price target of $413.69.

Trane Technologies Trading Down 4.3 %

Shares of TT opened at $331.69 on Monday. Trane Technologies plc has a twelve month low of $286.32 and a twelve month high of $422.00. The firm has a market capitalization of $74.40 billion, a P/E ratio of 29.48, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The stock’s fifty day simple moving average is $357.83 and its 200 day simple moving average is $380.15.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share 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%. On average, equities research analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a $0.94 dividend. The ex-dividend date is Friday, March 7th. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 annualized dividend and a yield of 1.13%. Trane Technologies’s dividend payout ratio (DPR) is 33.42%.

Insider Activity at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 2,754 shares of the firm’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 transaction of $984,114.36. Following the completion of the sale, the chief executive officer now owns 132,969 shares in the company, valued at $47,515,142.46. This trade represents a 2.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 completion of the transaction, the senior vice president now directly owns 13,401 shares in the company, 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. In the last ninety days, insiders have sold 7,234 shares of company stock worth $2,588,102. 0.38% of the stock is currently owned by company insiders.

About Trane Technologies

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.