Marvin & Palmer Associates Inc. Has $4.81 Million Holdings in Trane Technologies plc (NYSE:TT)

Marvin & Palmer Associates Inc. grew its position in shares of Trane Technologies plc (NYSE:TT) by 58.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 13,017 shares of the company’s stock after acquiring an additional 4,799 shares during the period. Trane Technologies accounts for approximately 3.7% of Marvin & Palmer Associates Inc.’s investment portfolio, making the stock its 14th biggest holding. Marvin & Palmer Associates Inc.’s holdings in Trane Technologies were worth $4,808,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in TT. Swedbank AB lifted its holdings in shares of Trane Technologies by 2.8% during the 3rd quarter. Swedbank AB now owns 743,794 shares of the company’s stock valued at $289,135,000 after buying an additional 20,400 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Trane Technologies during the third quarter valued at approximately $66,000. Equitable Trust Co. bought a new stake in shares of Trane Technologies during the third quarter valued at approximately $220,000. CWA Asset Management Group LLC bought a new stake in shares of Trane Technologies during the third quarter valued at approximately $386,000. Finally, Verdence Capital Advisors LLC boosted its stake in Trane Technologies by 5.0% in the 3rd quarter. Verdence Capital Advisors LLC now owns 1,362 shares of the company’s stock valued at $529,000 after buying an additional 65 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Trane Technologies

In related news, CFO Christopher J. Kuehn sold 770 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $358.39, for a total transaction of $275,960.30. Following the sale, the chief financial officer now owns 62,221 shares in the company, valued at $22,299,384.19. The trade was a 1.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Evan M. Turtz sold 318 shares of the business’s 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 sale, the senior vice president now owns 20,513 shares in the company, valued at $7,346,115.56. This represents a 1.53 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,234 shares of company stock valued at $2,588,102. Corporate insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on TT shares. Royal Bank of Canada boosted their price target 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. Wells Fargo & Company dropped their price target on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a research report on Friday, January 31st. Melius lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price on the stock. in a research report on Tuesday, January 28th. JPMorgan Chase & Co. lifted their target price on Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Finally, Citigroup decreased their price target on Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a research note on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Trane Technologies has a consensus rating of “Hold” and a consensus target price of $415.25.

Trane Technologies Stock Performance

NYSE:TT opened at $344.81 on Monday. The stock has a market cap of $77.34 billion, a P/E ratio of 30.65, a PEG ratio of 2.50 and a beta of 1.08. The stock has a 50 day simple moving average of $367.96 and a 200 day simple moving average of $380.61. 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 1-year low of $279.00 and a 1-year high of $422.00.

Trane Technologies (NYSE:TT) last announced 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 return on equity of 35.37% and a net margin of 12.94%. Research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be issued a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.09%. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s payout ratio is 33.42%.

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.