Andra AP fonden Grows Position in Trane Technologies plc (NYSE:TT)

Andra AP fonden boosted its stake in shares of Trane Technologies plc (NYSE:TT) by 107.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,500 shares of the company’s stock after acquiring an additional 7,000 shares during the period. Andra AP fonden’s holdings in Trane Technologies were worth $4,986,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of TT. MidAtlantic Capital Management Inc. purchased a new position in shares of Trane Technologies during the third quarter valued at about $27,000. Global Wealth Strategies & Associates bought a new position in Trane Technologies during the fourth quarter valued at approximately $26,000. Sound Income Strategies LLC grew its holdings in Trane Technologies by 1,314.3% during 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 in the last quarter. Golden State Wealth Management LLC bought a new stake in Trane Technologies in the 4th quarter worth approximately $39,000. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of Trane Technologies during the 3rd quarter worth approximately $44,000. 82.97% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Trane Technologies news, CFO Christopher J. Kuehn sold 770 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $358.39, for a total value of $275,960.30. Following the completion of the sale, the chief financial officer now owns 62,221 shares of the company’s stock, valued at approximately $22,299,384.19. This trade represents a 1.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David S. Regnery sold 2,754 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total value of $984,114.36. Following the sale, the chief executive officer now owns 132,969 shares in the company, valued at $47,515,142.46. The trade was a 2.03 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,234 shares of company stock valued at $2,588,102. 0.38% of the stock is currently owned by insiders.

Trane Technologies Price Performance

Shares of TT opened at $344.81 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. The company has a 50 day moving average price of $367.96 and a 200-day moving average price of $380.41. Trane Technologies plc has a fifty-two week low of $279.00 and a fifty-two week high of $422.00. The stock has a market capitalization of $77.34 billion, a PE ratio of 30.65, a PEG ratio of 2.50 and a beta of 1.08.

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

Trane Technologies Increases Dividend

The company also recently announced 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. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.76 dividend on an annualized basis and a yield of 1.09%. Trane Technologies’s dividend payout ratio is presently 29.87%.

Wall Street Analyst Weigh In

TT has been the topic of a number of recent research reports. Melius lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective for the company. in a research note on Tuesday, January 28th. Barclays raised their price target on Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. UBS Group cut their price objective on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Northcoast Research began coverage on shares of Trane Technologies in a report on Friday, November 22nd. They issued a “buy” rating and a $500.00 target price for the company. Finally, Royal Bank of Canada lifted their price target on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research note on Friday, January 3rd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $415.25.

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.