Trane Technologies plc (NYSE:TT) Shares Acquired by Strategy Asset Managers LLC

Strategy Asset Managers LLC increased its stake in shares of Trane Technologies plc (NYSE:TT) by 3.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,616 shares of the company’s stock after buying an additional 85 shares during the quarter. Strategy Asset Managers LLC’s holdings in Trane Technologies were worth $966,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Global Wealth Strategies & Associates bought a new position in Trane Technologies in the 4th quarter worth approximately $26,000. Sound Income Strategies LLC grew its stake in shares of Trane Technologies by 1,314.3% in 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 in the last quarter. Flagship Wealth Advisors LLC bought a new position in shares of Trane Technologies in the fourth quarter worth $37,000. Golden State Wealth Management LLC acquired a new position in shares of Trane Technologies during the fourth quarter valued at $39,000. Finally, Legacy Investment Solutions LLC bought a new stake in shares of Trane Technologies during the third quarter valued at about $44,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Stock Down 4.3 %

TT opened at $331.69 on Friday. Trane Technologies plc has a fifty-two week low of $286.32 and a fifty-two week high of $422.00. The company has a market capitalization of $74.40 billion, a P/E ratio of 29.48, a P/E/G ratio of 2.50 and a beta of 1.08. 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’s fifty day moving average price is $357.83 and its two-hundred day moving average price is $379.73.

Trane Technologies (NYSE:TT) last posted its 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%. On average, analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a dividend of $0.94 per share. 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 1.13%. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies’s payout ratio is currently 33.42%.

Insider Buying and Selling at Trane Technologies

In related news, CEO David S. Regnery sold 2,318 shares of Trane Technologies stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $358.17, for a total transaction of $830,238.06. Following the transaction, the chief executive officer now owns 126,831 shares of the company’s stock, valued at $45,427,059.27. This trade represents a 1.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Christopher J. Kuehn sold 770 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $358.39, for a total transaction of $275,960.30. Following the completion of the sale, the chief financial officer now directly owns 62,221 shares of the company’s stock, valued at $22,299,384.19. The trade was a 1.22 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,234 shares of company stock worth $2,588,102. Company insiders own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

TT has been the topic of several research analyst reports. Melius cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price on the stock. in a research note on Tuesday, January 28th. UBS Group dropped their target price on Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Wells Fargo & Company lowered their price target on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a research report on Friday, January 31st. Royal Bank of Canada upped their price objective 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, JPMorgan Chase & Co. lifted their target price on Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. One investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $413.69.

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.