Sciencast Management LP Buys Shares of 2,496 Trane Technologies plc (NYSE:TT)

Sciencast Management LP bought a new stake in shares of Trane Technologies plc (NYSE:TT) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 2,496 shares of the company’s stock, valued at approximately $922,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cobblestone Capital Advisors LLC NY boosted its stake in Trane Technologies by 1.8% during the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 1,490 shares of the company’s stock valued at $579,000 after purchasing an additional 27 shares during the period. Wescott Financial Advisory Group LLC raised its position in shares of Trane Technologies by 1.7% during the 3rd quarter. Wescott Financial Advisory Group LLC now owns 1,723 shares of the company’s stock worth $670,000 after buying an additional 28 shares in the last quarter. Secured Retirement Advisors LLC raised its position in shares of Trane Technologies by 0.6% during the 4th quarter. Secured Retirement Advisors LLC now owns 4,628 shares of the company’s stock worth $1,709,000 after buying an additional 28 shares in the last quarter. First Citizens Financial Corp raised its position in shares of Trane Technologies by 4.6% during the 4th quarter. First Citizens Financial Corp now owns 656 shares of the company’s stock worth $242,000 after buying an additional 29 shares in the last quarter. Finally, Catalina Capital Group LLC raised its position in shares of Trane Technologies by 3.2% during the 4th quarter. Catalina Capital Group LLC now owns 924 shares of the company’s stock worth $341,000 after buying an additional 29 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, 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 transaction, the senior vice president now owns 13,401 shares in the company, valued at approximately $4,792,331.61. This represents a 1.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David S. Regnery sold 2,754 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total transaction of $984,114.36. Following the completion of the transaction, the chief executive officer now owns 132,969 shares in the company, valued at approximately $47,515,142.46. This represents a 2.03 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,234 shares of company stock worth $2,588,102. 0.38% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have commented on TT shares. Melius downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price target on the stock. in a research report on Tuesday, January 28th. UBS Group dropped their price target 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. Melius Research restated a “hold” rating and set a $398.00 price target on shares of Trane Technologies in a research report on Tuesday, January 28th. Royal Bank of Canada boosted their target price on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a report on Friday, January 3rd. Finally, Citigroup dropped their target price on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Trane Technologies presently has a consensus rating of “Hold” and an average price target of $413.69.

Trane Technologies Stock Down 0.6 %

TT stock opened at $347.30 on Friday. Trane Technologies plc has a 52-week low of $286.32 and a 52-week high of $422.00. The company’s 50 day simple moving average is $361.24 and its 200-day simple moving average is $379.75. 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 firm has a market capitalization of $77.90 billion, a P/E ratio of 30.87, a P/E/G 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 earnings per share (EPS) for the quarter, beating 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%. As a group, equities research analysts anticipate that Trane Technologies plc will post 12.83 EPS 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 paid a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.08%. The ex-dividend date is Friday, March 7th. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s dividend payout ratio is currently 33.42%.

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.