Vista Investment Partners II LLC Buys New Holdings in Trane Technologies plc (NYSE:TT)

Vista Investment Partners II LLC bought a new stake in Trane Technologies plc (NYSE:TT) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 899 shares of the company’s stock, valued at approximately $332,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Global Wealth Strategies & Associates bought a new stake in shares of Trane Technologies in the 4th quarter worth $26,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Trane Technologies in the third quarter valued at about $27,000. Sound Income Strategies LLC increased its holdings in shares of 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 purchasing an additional 92 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in Trane Technologies during the fourth quarter worth approximately $39,000. Finally, Legacy Investment Solutions LLC bought a new stake in Trane Technologies during the third quarter worth approximately $44,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Price Performance

Shares of NYSE TT opened at $344.81 on Monday. Trane Technologies plc has a fifty-two week low of $279.00 and a fifty-two week high of $422.00. 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 stock has a market capitalization of $77.34 billion, a price-to-earnings ratio of 30.65, a PEG ratio of 2.50 and a beta of 1.08. The business has a 50-day moving average of $367.96 and a 200-day moving average of $380.61.

Trane Technologies (NYSE:TT) last released its quarterly 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%. As a group, sell-side analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 1.09%. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s dividend payout ratio is currently 33.42%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price target on Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Wells Fargo & Company cut their price objective 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. Melius Research reiterated a “hold” rating and issued a $398.00 price target on shares of Trane Technologies in a report on Tuesday, January 28th. Citigroup cut their price target 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. Finally, Northcoast Research initiated coverage on shares of Trane Technologies in a research note on Friday, November 22nd. They set a “buy” rating and a $500.00 price objective on the stock. One equities 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’s stock. According to MarketBeat.com, Trane Technologies currently has a consensus rating of “Hold” and a consensus target price of $415.25.

Insider Buying and Selling

In other Trane Technologies news, CEO David S. Regnery sold 2,754 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total value of $984,114.36. Following the sale, the chief executive officer now owns 132,969 shares of the company’s stock, valued at $47,515,142.46. This trade represents a 2.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Evan M. Turtz sold 318 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $358.12, for a total transaction of $113,882.16. Following the sale, 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. Insiders have sold 7,234 shares of company stock worth $2,588,102 in the last quarter. Insiders own 0.38% of the company’s stock.

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.