Trane Technologies plc (NYSE:TT) Holdings Raised by Gables Capital Management Inc.

Gables Capital Management Inc. boosted its stake in Trane Technologies plc (NYSE:TT) by 90.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 316 shares of the company’s stock after buying an additional 150 shares during the quarter. Gables Capital Management Inc.’s holdings in Trane Technologies were worth $117,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Global Wealth Strategies & Associates purchased a new stake in Trane Technologies in the 4th quarter worth approximately $26,000. MidAtlantic Capital Management Inc. purchased a new stake in Trane Technologies in the 3rd quarter worth approximately $27,000. Sound Income Strategies LLC lifted its position in Trane Technologies by 1,314.3% in the 4th 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. Golden State Wealth Management LLC purchased a new stake in Trane Technologies in the 4th quarter worth approximately $39,000. Finally, Legacy Investment Solutions LLC purchased a new stake in Trane Technologies in the 3rd quarter worth approximately $44,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Performance

NYSE TT opened at $338.24 on Tuesday. 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 firm has a market capitalization of $75.86 billion, a price-to-earnings ratio of 30.07, a P/E/G ratio of 2.50 and a beta of 1.08. The company’s fifty day moving average is $367.30 and its two-hundred day moving average is $380.52. Trane Technologies plc has a 52-week low of $279.00 and a 52-week high of $422.00.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts forecast 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. Shareholders of record on Friday, March 7th will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.11%. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies’s dividend payout ratio (DPR) is currently 33.42%.

Insiders Place Their Bets

In other news, SVP Mairead Magner sold 198 shares of Trane Technologies stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total transaction of $70,806.78. Following the sale, the senior vice president now directly owns 13,401 shares in the company, valued at approximately $4,792,331.61. The trade was a 1.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Christopher J. Kuehn sold 876 shares of Trane Technologies stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.42, for a total transaction of $313,099.92. Following the sale, the chief financial officer now owns 63,841 shares in the company, valued at approximately $22,818,050.22. This trade represents a 1.35 % decrease in their ownership of the stock. 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 ninety days. Insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TT. Northcoast Research began coverage on shares of Trane Technologies in a report on Friday, November 22nd. They set a “buy” rating and a $500.00 price target on the stock. Melius downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price target on the stock. in a report on Tuesday, January 28th. Royal Bank of Canada raised their price target on shares of Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a report on Friday, January 3rd. Barclays cut their price target on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a report on Monday. Finally, JPMorgan Chase & Co. raised their price target on shares of Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Trane Technologies presently has an average rating of “Hold” and an average target price of $413.69.

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.