HM Payson & Co. Raises Stock Position in Trane Technologies plc (NYSE:TT)

HM Payson & Co. boosted its position in shares of Trane Technologies plc (NYSE:TT) by 0.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 9,272 shares of the company’s stock after purchasing an additional 73 shares during the period. HM Payson & Co.’s holdings in Trane Technologies were worth $3,425,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of TT. Swedbank AB grew its stake in Trane Technologies by 2.8% during the third quarter. Swedbank AB now owns 743,794 shares of the company’s stock valued at $289,135,000 after acquiring an additional 20,400 shares in the last quarter. Summit Global Investments purchased a new position in Trane Technologies during the third quarter valued at approximately $1,373,000. Capital Performance Advisors LLP purchased a new position in Trane Technologies in the 3rd quarter worth approximately $66,000. ABLE Financial Group LLC purchased a new position in Trane Technologies in the 3rd quarter worth approximately $210,000. Finally, Equitable Trust Co. purchased a new position in Trane Technologies in the 3rd quarter worth approximately $220,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Trading Up 0.9 %

NYSE:TT opened at $344.81 on Friday. The company has a fifty day moving average of $367.96 and a 200 day moving average of $380.41. Trane Technologies plc has a 52 week low of $279.00 and a 52 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. The firm has a market capitalization of $77.34 billion, a P/E ratio of 30.65, a P/E/G ratio of 2.50 and a beta of 1.08.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Thursday, January 30th. The company reported $2.61 EPS 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, research analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be issued a dividend of $0.94 per share. This is a positive change 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 currently 29.87%.

Analyst Upgrades and Downgrades

TT has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their price target on shares of Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. UBS Group cut their price target on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Royal Bank of Canada boosted 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 note on Friday, January 3rd. Melius cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price target for the company. in a research note on Tuesday, January 28th. Finally, Melius Research reissued a “hold” rating and issued a $398.00 price target on shares of Trane Technologies in a research note on Tuesday, January 28th. One research 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $415.25.

Insider Activity at Trane Technologies

In other Trane Technologies news, SVP Mairead Magner sold 198 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $4,792,331.61. The trade was a 1.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Christopher J. Kuehn sold 770 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $358.39, for a total transaction of $275,960.30. Following the transaction, the chief financial officer now directly owns 62,221 shares in the company, valued at approximately $22,299,384.19. The trade was a 1.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,234 shares of company stock worth $2,588,102 in the last three months. 0.38% of the stock is owned by insiders.

Trane Technologies Company 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.