Yousif Capital Management LLC Raises Stake in Trane Technologies plc (NYSE:TT)

Yousif Capital Management LLC grew its holdings in shares of Trane Technologies plc (NYSE:TT) by 1.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 29,496 shares of the company’s stock after acquiring an additional 381 shares during the quarter. Yousif Capital Management LLC’s holdings in Trane Technologies were worth $10,894,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Tidal Investments LLC lifted its stake in Trane Technologies by 22.2% in the third quarter. Tidal Investments LLC now owns 15,827 shares of the company’s stock worth $6,152,000 after purchasing an additional 2,874 shares during the last quarter. Synovus Financial Corp lifted its stake in shares of Trane Technologies by 16.8% in the 3rd quarter. Synovus Financial Corp now owns 8,828 shares of the company’s stock valued at $3,431,000 after acquiring an additional 1,271 shares during the last quarter. Ameritas Advisory Services LLC purchased a new stake in Trane Technologies during the 4th quarter valued at about $468,000. HB Wealth Management LLC grew its position in Trane Technologies by 14.3% during the 4th quarter. HB Wealth Management LLC now owns 5,689 shares of the company’s stock worth $2,101,000 after acquiring an additional 711 shares during the last quarter. Finally, GDS Wealth Management increased its stake in Trane Technologies by 4.3% in the 3rd quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock worth $20,123,000 after purchasing an additional 2,124 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Insider Activity

In related news, SVP Mairead Magner sold 4,329 shares of the stock in a transaction dated 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 directly owns 12,893 shares of the company’s stock, valued at approximately $5,363,488. This represents a 25.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Stock Up 0.6 %

NYSE:TT opened at $357.47 on Thursday. 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 50-day moving average price is $387.21 and its 200-day moving average price is $377.24. The company has a market capitalization of $80.44 billion, a PE ratio of 31.78, a P/E/G ratio of 2.18 and a beta of 1.05. Trane Technologies plc has a 1-year low of $265.37 and a 1-year high of $422.00.

Trane Technologies (NYSE:TT) last announced its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share 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%. On average, equities analysts predict that Trane Technologies plc will post 12.79 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The business also recently announced 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 yield of 1.05%. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s payout ratio is 29.87%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on TT shares. Citigroup cut their target price on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Wells Fargo & Company cut their price target on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. HSBC downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective for the company. in a research note on Thursday, October 31st. Hsbc Global Res downgraded Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Finally, UBS Group lowered their price target on Trane Technologies from $500.00 to $470.00 and set a “buy” 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. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price 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.