Trane Technologies plc (NYSE:TT) Position Reduced by Pacific Global Investment Management Co.

Pacific Global Investment Management Co. reduced its position in Trane Technologies plc (NYSE:TT) by 92.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 598 shares of the company’s stock after selling 7,230 shares during the period. Pacific Global Investment Management Co.’s holdings in Trane Technologies were worth $221,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Plato Investment Management Ltd grew its holdings in shares of Trane Technologies by 0.8% during the fourth quarter. Plato Investment Management Ltd now owns 11,926 shares of the company’s stock worth $4,421,000 after purchasing an additional 95 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in Trane Technologies by 91.1% during the 4th quarter. Jones Financial Companies Lllp now owns 4,706 shares of the company’s stock worth $1,738,000 after acquiring an additional 2,243 shares during the last quarter. Modera Wealth Management LLC increased its position in Trane Technologies by 41.0% in the 4th quarter. Modera Wealth Management LLC now owns 1,270 shares of the company’s stock valued at $469,000 after acquiring an additional 369 shares in the last quarter. SRS Capital Advisors Inc. increased its position in Trane Technologies by 278.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,924 shares of the company’s stock valued at $711,000 after acquiring an additional 1,415 shares in the last quarter. Finally, Firetrail Investments PTY Ltd. raised its stake in shares of Trane Technologies by 17.5% in the fourth quarter. Firetrail Investments PTY Ltd. now owns 32,420 shares of the company’s stock worth $12,018,000 after acquiring an additional 4,824 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity at Trane Technologies

In other Trane Technologies news, CFO Christopher J. Kuehn sold 876 shares of Trane Technologies stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total value of $313,099.92. Following the sale, the chief financial officer now owns 63,841 shares of the company’s stock, valued at $22,818,050.22. This trade represents a 1.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO David S. Regnery sold 2,754 shares of the company’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 transaction, the chief executive officer now directly 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 disclosure for this sale can be found here. In the last three months, insiders sold 11,563 shares of company stock worth $4,388,966. 0.38% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

TT has been the topic of several research analyst reports. Barclays increased their price target on shares of Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. JPMorgan Chase & Co. increased their price objective on Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Northcoast Research began coverage on Trane Technologies in a research report on Friday, November 22nd. They set a “buy” rating and a $500.00 target price for the company. Royal Bank of Canada raised their price target on Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a report on Friday, January 3rd. Finally, Citigroup lowered their price objective on Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a research report on Monday, January 13th. 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 stock. Based on data from MarketBeat.com, Trane Technologies presently has a consensus rating of “Hold” and an average target price of $415.25.

Trane Technologies Stock Up 2.9 %

Shares of NYSE:TT opened at $354.22 on Monday. The company has a 50 day moving average price of $371.26 and a two-hundred day moving average price of $380.69. 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 market capitalization of $79.45 billion, a PE ratio of 31.49, a PEG ratio of 2.50 and a beta of 1.05. Trane Technologies plc has a 52 week low of $279.00 and a 52 week high of $422.00.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Thursday, January 30th. The company reported $2.61 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%. Analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.06%. 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. Trane Technologies’s payout ratio is 29.87%.

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.