Dynamic Technology Lab Private Ltd Increases Holdings in Trane Technologies plc (NYSE:TT)

Dynamic Technology Lab Private Ltd increased its position in Trane Technologies plc (NYSE:TT) by 60.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,109 shares of the company’s stock after acquiring an additional 1,556 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Trane Technologies were worth $1,518,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Trane Technologies by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 19,235,570 shares of the company’s stock worth $7,104,658,000 after buying an additional 152,353 shares in the last quarter. State Street Corp lifted its holdings in shares of Trane Technologies by 0.8% in the third quarter. State Street Corp now owns 9,769,161 shares of the company’s stock valued at $3,797,565,000 after purchasing an additional 77,830 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Trane Technologies by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 4,775,263 shares of the company’s stock valued at $1,760,549,000 after purchasing an additional 136,349 shares during the last quarter. Norges Bank acquired a new position in shares of Trane Technologies during the 4th quarter worth approximately $1,117,816,000. Finally, Raymond James Financial Inc. purchased a new stake in Trane Technologies in the 4th quarter valued at approximately $611,322,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Trading Down 3.9 %

Shares of TT stock opened at $318.18 on Friday. Trane Technologies plc has a fifty-two week low of $286.32 and a fifty-two week high of $422.00. The firm’s 50 day moving average price is $351.63 and its two-hundred day moving average price is $378.92. The stock has a market cap of $71.36 billion, a price-to-earnings ratio of 28.28, 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 quarterly 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%. On average, analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be issued 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 yield of 1.18%. Trane Technologies’s dividend payout ratio is currently 33.42%.

Insider Buying and Selling at Trane Technologies

In related news, SVP Evan M. Turtz sold 318 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $358.12, for a total value of $113,882.16. Following the sale, the senior vice president now directly owns 20,513 shares of the company’s stock, valued at $7,346,115.56. This represents a 1.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Mairead Magner sold 198 shares of the firm’s stock in a transaction 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 transaction, the senior vice president now directly owns 13,401 shares of the company’s stock, valued at approximately $4,792,331.61. This represents a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,234 shares of company stock valued at $2,588,102 in the last ninety days. Insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

TT has been the subject of a number of analyst reports. Citigroup cut their price target on Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a report on Monday, January 13th. UBS Group reduced their target price 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. JPMorgan Chase & Co. lifted their price target on shares of Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Wells Fargo & Company reduced their price objective 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. Finally, Melius Research reaffirmed a “hold” rating and issued a $398.00 target price on shares of Trane Technologies in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $413.69.

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.