Proficio Capital Partners LLC Acquires 252,548 Shares of Trane Technologies plc (NYSE:TT)

Proficio Capital Partners LLC raised its holdings in shares of Trane Technologies plc (NYSE:TT) by 47,293.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 253,082 shares of the company’s stock after acquiring an additional 252,548 shares during the quarter. Proficio Capital Partners LLC’s holdings in Trane Technologies were worth $93,476,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Tidal Investments LLC grew its position in shares of Trane Technologies by 22.2% during the 3rd quarter. Tidal Investments LLC now owns 15,827 shares of the company’s stock valued at $6,152,000 after purchasing an additional 2,874 shares in the last quarter. Synovus Financial Corp grew its position in shares of Trane Technologies by 16.8% during the 3rd quarter. Synovus Financial Corp now owns 8,828 shares of the company’s stock valued at $3,431,000 after purchasing an additional 1,271 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in shares of Trane Technologies during the 4th quarter valued at $468,000. HB Wealth Management LLC grew its position in shares of Trane Technologies by 14.3% during the 4th quarter. HB Wealth Management LLC now owns 5,689 shares of the company’s stock valued at $2,101,000 after purchasing an additional 711 shares in the last quarter. Finally, GDS Wealth Management grew its position in shares of Trane Technologies by 4.3% during the 3rd quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock valued at $20,123,000 after purchasing an additional 2,124 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

TT has been the subject of a number of recent analyst reports. Royal Bank of Canada boosted their price target on shares of Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a research report on Friday, January 3rd. Melius lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price for the company. in a research report on Tuesday, January 28th. 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 report on Thursday, October 31st. Robert W. Baird cut their target price on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Finally, Barclays upped their target price on shares of Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Trane Technologies presently has a consensus rating of “Hold” and an average target price of $415.25.

Trane Technologies Stock Performance

Shares of NYSE:TT opened at $344.64 on Friday. The company has a market cap of $77.30 billion, a price-to-earnings ratio of 30.63, a price-to-earnings-growth ratio of 2.50 and a beta of 1.05. The company has a 50-day moving average price of $371.72 and a 200-day moving average price of $380.02. 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 12 month low of $279.00 and a 12 month high of $422.00.

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

Trane Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be paid a $0.94 dividend. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date is Friday, March 7th. Trane Technologies’s dividend payout ratio is presently 29.87%.

Insider Buying and Selling

In other Trane Technologies news, CEO David S. Regnery sold 2,318 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $358.17, for a total value of $830,238.06. Following the sale, the chief executive officer now owns 126,831 shares in the company, valued at approximately $45,427,059.27. This represents a 1.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Christopher J. Kuehn sold 770 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $358.39, for a total transaction of $275,960.30. Following the completion of the sale, the chief financial officer now owns 62,221 shares in the company, valued at approximately $22,299,384.19. This trade represents a 1.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,563 shares of company stock valued at $4,388,966 over the last three months. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies 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.