Trane Technologies plc (NYSE:TT) Stock Holdings Raised by Pitcairn Co.

Pitcairn Co. lifted its stake in shares of Trane Technologies plc (NYSE:TT) by 4.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,973 shares of the company’s stock after purchasing an additional 380 shares during the period. Pitcairn Co.’s holdings in Trane Technologies were worth $3,314,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in shares of Trane Technologies during the fourth quarter worth about $1,117,816,000. Raymond James Financial Inc. bought a new position in Trane Technologies during the fourth quarter valued at about $611,322,000. Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of Trane Technologies by 455.2% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 427,226 shares of the company’s stock worth $167,977,000 after purchasing an additional 350,277 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of Trane Technologies by 42.9% in the fourth quarter. Nordea Investment Management AB now owns 978,275 shares of the company’s stock valued at $361,874,000 after buying an additional 293,916 shares in the last quarter. Finally, Caisse Des Depots ET Consignations purchased a new stake in shares of Trane Technologies during the fourth quarter valued at $98,560,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Christopher J. Kuehn sold 876 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were 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 in the company, valued at approximately $22,818,050.22. This trade represents a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO David S. Regnery sold 2,754 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 132,969 shares of the company’s stock, valued at approximately $47,515,142.46. The trade was a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,234 shares of company stock valued at $2,588,102. 0.38% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on TT. Melius Research reiterated a “hold” rating and issued a $398.00 target price on shares of Trane Technologies in a report on Tuesday, January 28th. JPMorgan Chase & Co. boosted their target price on shares of Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Royal Bank of Canada raised their target price on Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research report on Friday, January 3rd. Barclays dropped their price target on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. Finally, Wells Fargo & Company decreased their price objective on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $413.69.

Trane Technologies Price Performance

NYSE TT opened at $348.45 on Thursday. Trane Technologies plc has a fifty-two week low of $286.32 and a fifty-two week high of $422.00. The stock’s 50-day moving average is $354.67 and its two-hundred day moving average is $379.61. The firm has a market cap of $78.15 billion, a P/E ratio of 30.97, a price-to-earnings-growth 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.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Thursday, January 30th. The company reported $2.61 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, analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 7th were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.08%. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date was Friday, March 7th. Trane Technologies’s dividend payout ratio is 33.42%.

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.