Vanguard Group Inc. Buys 152,353 Shares of Trane Technologies plc (NYSE:TT)

Vanguard Group Inc. increased its stake in shares of Trane Technologies plc (NYSE:TT) by 0.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,235,570 shares of the company’s stock after purchasing an additional 152,353 shares during the quarter. Vanguard Group Inc. owned about 8.55% of Trane Technologies worth $7,104,658,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Global Wealth Strategies & Associates bought a new position in Trane Technologies in the fourth quarter valued at approximately $26,000. Sound Income Strategies LLC boosted its stake in Trane Technologies by 1,314.3% in the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after acquiring an additional 92 shares during the last quarter. Flagship Wealth Advisors LLC bought a new position in Trane Technologies in the fourth quarter valued at approximately $37,000. Golden State Wealth Management LLC bought a new position in Trane Technologies in the fourth quarter valued at approximately $39,000. Finally, Legacy Investment Solutions LLC bought a new position in Trane Technologies in the third quarter valued at approximately $44,000. 82.97% of the stock is owned by institutional investors.

Insider Transactions at Trane Technologies

In other news, SVP Mairead Magner sold 198 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total transaction of $70,806.78. Following the transaction, the senior vice president now directly owns 13,401 shares in the company, valued at $4,792,331.61. The trade was a 1.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Evan M. Turtz sold 318 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $358.12, for a total transaction of $113,882.16. Following the transaction, the senior vice president now owns 20,513 shares in the company, valued at $7,346,115.56. This represents a 1.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,234 shares of company stock worth $2,588,102 in the last ninety days. Insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on TT shares. Melius cut 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. Wells Fargo & Company reduced their price target on shares of 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 lifted their price target on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research report on Friday, January 3rd. Citigroup reduced their price target on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Finally, Melius Research reissued a “hold” rating and set a $398.00 price target on shares of Trane Technologies in a research report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Trane Technologies presently has an average rating of “Hold” and a consensus target price of $413.69.

Trane Technologies Stock Down 0.6 %

Shares of TT stock opened at $347.30 on Monday. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. Trane Technologies plc has a 1 year low of $286.32 and a 1 year high of $422.00. The firm’s fifty day moving average price is $361.24 and its two-hundred day moving average price is $379.99. The firm has a market capitalization of $77.90 billion, a P/E ratio of 30.87, a PEG ratio of 2.50 and a beta of 1.08.

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

Trane Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be paid a dividend of $0.94 per share. The ex-dividend date is Friday, March 7th. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 annualized dividend and a dividend yield of 1.08%. Trane Technologies’s payout ratio is currently 33.42%.

About Trane Technologies

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.