Plato Investment Management Ltd Has $4.42 Million Stock Position in Trane Technologies plc (NYSE:TT)

Plato Investment Management Ltd lifted its position in shares of Trane Technologies plc (NYSE:TT) by 0.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,926 shares of the company’s stock after buying an additional 95 shares during the quarter. Plato Investment Management Ltd’s holdings in Trane Technologies were worth $4,421,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. MidAtlantic Capital Management Inc. bought a new stake in Trane Technologies during the third quarter worth about $27,000. Global Wealth Strategies & Associates bought a new stake in Trane Technologies during the fourth quarter worth about $26,000. Sound Income Strategies LLC lifted its position in Trane Technologies by 1,314.3% during the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock worth $37,000 after purchasing an additional 92 shares during the period. Pittenger & Anderson Inc. bought a new stake in Trane Technologies during the third quarter worth about $39,000. Finally, Golden State Wealth Management LLC bought a new stake in Trane Technologies during the fourth quarter worth about $39,000. Institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on TT shares. Melius Research reaffirmed a “hold” rating and set a $398.00 price objective on shares of Trane Technologies in a research report on Tuesday, January 28th. Wells Fargo & Company cut their price objective on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a research report on Friday, January 31st. JPMorgan Chase & Co. upped their price objective on shares of Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Citigroup lowered their target price on Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Finally, Northcoast Research assumed coverage on Trane Technologies in a research note on Friday, November 22nd. They set a “buy” rating and a $500.00 target price for the company. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Trane Technologies presently has an average rating of “Hold” and a consensus price target of $415.25.

Insider Activity at Trane Technologies

In related news, CEO David S. Regnery sold 2,754 shares of the company’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 value of $984,114.36. Following the sale, the chief executive officer now directly owns 132,969 shares in the company, valued at $47,515,142.46. This represents a 2.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Mairead Magner sold 4,329 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total value of $1,800,864.00. Following the completion of the sale, the senior vice president now owns 12,893 shares in the company, valued at $5,363,488. The trade was 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 worth $4,388,966 over the last ninety days. Insiders own 0.38% of the company’s stock.

Trane Technologies Stock Performance

Trane Technologies stock opened at $354.22 on Monday. The business has a 50 day moving average of $371.26 and a 200-day moving average of $380.69. Trane Technologies plc has a 1 year low of $279.00 and a 1 year high of $422.00. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. The company has a market capitalization of $79.45 billion, a P/E ratio of 31.49, a P/E/G ratio of 2.50 and a beta of 1.05.

Trane Technologies (NYSE:TT) last released its quarterly earnings data 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 return on equity of 35.37% and a net margin of 12.94%. On average, equities research analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be issued a $0.94 dividend. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 annualized dividend and a yield of 1.06%. Trane Technologies’s dividend payout ratio is presently 29.87%.

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.