Private Advisor Group LLC Grows Position in Trane Technologies plc (NYSE:TT)

Private Advisor Group LLC increased its position in Trane Technologies plc (NYSE:TT) by 20.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,342 shares of the company’s stock after buying an additional 1,789 shares during the quarter. Private Advisor Group LLC’s holdings in Trane Technologies were worth $3,820,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TT. Global Wealth Strategies & Associates purchased a new position in Trane Technologies during the 4th quarter valued at $26,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Trane Technologies during the third quarter valued at about $27,000. Sound Income Strategies LLC raised 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 worth $37,000 after buying an additional 92 shares in the last quarter. Pittenger & Anderson Inc. purchased a new stake in Trane Technologies in the third quarter worth about $39,000. Finally, Golden State Wealth Management LLC bought a new stake in Trane Technologies during the 4th quarter valued at approximately $39,000. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Stock Down 3.3 %

Shares of TT stock opened at $354.56 on Monday. The company’s fifty day simple moving average is $374.82 and its two-hundred day simple moving average is $380.23. Trane Technologies plc has a 52 week low of $279.00 and a 52 week high of $422.00. The stock has a market cap of $79.52 billion, a P/E ratio of 31.52, a PEG ratio of 2.50 and a beta of 1.05. 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 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%. Analysts predict that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be paid a $0.94 dividend. The ex-dividend date is Friday, March 7th. This represents a $3.76 annualized dividend and a dividend yield of 1.06%. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s dividend payout ratio is currently 29.87%.

Analyst Upgrades and Downgrades

TT has been the topic of several research reports. Northcoast Research began coverage on Trane Technologies in a research report on Friday, November 22nd. They set a “buy” rating and a $500.00 price target on the stock. Melius Research restated a “hold” rating and set a $398.00 target price on shares of Trane Technologies in a report on Tuesday, January 28th. Hsbc Global Res lowered shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. UBS Group dropped their price objective on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Finally, HSBC downgraded 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 investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Trane Technologies presently has a consensus rating of “Hold” and a consensus price target of $415.25.

Insider Transactions at Trane Technologies

In other Trane Technologies news, CFO Christopher J. Kuehn sold 876 shares of Trane Technologies stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total transaction of $313,099.92. Following the completion of the sale, the chief financial officer now directly owns 63,841 shares of the company’s stock, valued at $22,818,050.22. The trade was a 1.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Evan M. Turtz sold 318 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $358.12, for a total value of $113,882.16. Following the transaction, the senior vice president now directly owns 20,513 shares in the company, valued at $7,346,115.56. The trade was a 1.53 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,563 shares of company stock worth $4,388,966. 0.38% of the stock is currently owned by insiders.

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.