Trane Technologies plc (NYSE:TT) Shares Acquired by Massachusetts Wealth Management

Massachusetts Wealth Management increased its position in Trane Technologies plc (NYSE:TT) by 2.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,390 shares of the company’s stock after purchasing an additional 125 shares during the period. Trane Technologies accounts for about 1.5% of Massachusetts Wealth Management’s investment portfolio, making the stock its 23rd biggest holding. Massachusetts Wealth Management’s holdings in Trane Technologies were worth $2,360,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Czech National Bank lifted its stake in Trane Technologies by 6.6% during the third quarter. Czech National Bank now owns 45,971 shares of the company’s stock worth $17,870,000 after purchasing an additional 2,837 shares during the last quarter. Azzad Asset Management Inc. ADV raised its holdings in shares of Trane Technologies by 1.1% during the third quarter. Azzad Asset Management Inc. ADV now owns 6,388 shares of the company’s stock worth $2,483,000 after purchasing an additional 68 shares during the period. Diversified Trust Co lifted its position in shares of Trane Technologies by 4.5% in the 3rd quarter. Diversified Trust Co now owns 3,310 shares of the company’s stock worth $1,287,000 after buying an additional 144 shares during the last quarter. Chapin Davis Inc. grew its position in shares of Trane Technologies by 4.9% during the 3rd quarter. Chapin Davis Inc. now owns 6,599 shares of the company’s stock valued at $2,565,000 after buying an additional 308 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC raised its stake in Trane Technologies by 0.8% during the third quarter. Dynamic Advisor Solutions LLC now owns 5,041 shares of the company’s stock worth $1,959,000 after acquiring an additional 40 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Trading Down 1.4 %

Shares of Trane Technologies stock opened at $355.41 on Wednesday. The business has a fifty day simple moving average of $387.21 and a 200-day simple moving average of $377.24. The firm has a market cap of $79.97 billion, a price-to-earnings ratio of 31.59, a price-to-earnings-growth ratio of 2.18 and a beta of 1.05. Trane Technologies plc has a fifty-two week low of $265.37 and a fifty-two week high of $422.00. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share 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 forecast that Trane Technologies plc will post 12.79 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.06%. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s dividend payout ratio is currently 29.87%.

Insider Activity

In other news, SVP Mairead Magner sold 4,329 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the sale, the senior vice president now owns 12,893 shares in the company, valued at $5,363,488. The trade was a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on TT. Wells Fargo & Company lowered their target price on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a report on Friday, January 31st. Hsbc Global Res downgraded Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Royal Bank of Canada raised their target price on Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a research note on Friday, January 3rd. The Goldman Sachs Group increased their price objective on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Finally, HSBC lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price for the company. in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $415.25.

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.