Global Retirement Partners LLC Increases Stock Position in Trane Technologies plc (NYSE:TT)

Global Retirement Partners LLC boosted its stake in shares of Trane Technologies plc (NYSE:TT) by 7.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,856 shares of the company’s stock after purchasing an additional 133 shares during the quarter. Global Retirement Partners LLC’s holdings in Trane Technologies were worth $686,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the company. Global Wealth Strategies & Associates purchased a new position in Trane Technologies during the 4th quarter worth $26,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Trane Technologies during the third quarter valued at $27,000. DT Investment Partners LLC acquired a new position in shares of Trane Technologies in the 3rd quarter valued at $36,000. Sound Income Strategies LLC raised its stake in Trane Technologies by 1,314.3% in the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock worth $37,000 after acquiring an additional 92 shares during the last quarter. Finally, Pittenger & Anderson Inc. acquired a new stake in Trane Technologies during the 3rd quarter worth about $39,000. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Stock Down 3.3 %

TT opened at $354.56 on Friday. The company has a 50-day moving average price of $374.82 and a 200 day moving average price of $379.83. Trane Technologies plc has a twelve month low of $279.00 and a twelve month high of $422.00. The company has a market cap of $79.52 billion, a PE ratio of 31.52, a price-to-earnings-growth ratio of 2.50 and a beta of 1.05. 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 released its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) 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%. Sell-side analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be paid a $0.94 dividend. The ex-dividend date is Friday, March 7th. This is an increase 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 1.06%. Trane Technologies’s dividend payout ratio (DPR) is 29.87%.

Insiders Place Their Bets

In other Trane Technologies news, CEO David S. Regnery sold 2,754 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total value of $984,114.36. Following the transaction, the chief executive officer now owns 132,969 shares of the company’s stock, valued at $47,515,142.46. This represents a 2.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Mairead Magner sold 4,329 shares of Trane Technologies stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the sale, the senior vice president now owns 12,893 shares of the company’s stock, valued at approximately $5,363,488. This represents a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,563 shares of company stock valued at $4,388,966 over the last ninety days. Company insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Northcoast Research began coverage on Trane Technologies in a research note on Friday, November 22nd. They issued a “buy” rating and a $500.00 price objective for the company. Hsbc Global Res lowered shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Robert W. Baird cut their price target on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. UBS Group dropped 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 note on Friday, January 31st. Finally, HSBC cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price for the company. in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Trane Technologies has an average rating of “Hold” and an average target price of $415.25.

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.