Jupiter Asset Management Ltd. Boosts Stake in Trane Technologies plc (NYSE:TT)

Jupiter Asset Management Ltd. increased its holdings in shares of Trane Technologies plc (NYSE:TT) by 6,673.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 64,346 shares of the company’s stock after acquiring an additional 63,396 shares during the period. Jupiter Asset Management Ltd.’s holdings in Trane Technologies were worth $23,766,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. FMR LLC grew its stake in shares of Trane Technologies by 4.0% during the 3rd quarter. FMR LLC now owns 10,337,672 shares of the company’s stock worth $4,018,563,000 after purchasing an additional 397,537 shares during the period. State Street Corp boosted its holdings in Trane Technologies by 0.8% during the third quarter. State Street Corp now owns 9,769,161 shares of the company’s stock worth $3,797,565,000 after buying an additional 77,830 shares in the last quarter. Geode Capital Management LLC grew its position in Trane Technologies by 1.4% during the third quarter. Geode Capital Management LLC now owns 4,638,914 shares of the company’s stock worth $1,797,700,000 after buying an additional 65,991 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Trane Technologies by 35.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock valued at $991,460,000 after buying an additional 671,691 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Trane Technologies by 0.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,142,081 shares of the company’s stock valued at $832,691,000 after acquiring an additional 20,151 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 770 shares of the business’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. The trade was a 1.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Evan M. Turtz sold 318 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $7,346,115.56. This trade represents a 1.53 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,234 shares of company stock worth $2,588,102. 0.38% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Citigroup dropped their price objective 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. Barclays dropped their price target on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a research report on Monday. Melius downgraded 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. JPMorgan Chase & Co. increased their price objective on shares of Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Finally, UBS Group cut their target price on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a research report on Friday, January 31st. One research 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 MarketBeat.com, Trane Technologies has an average rating of “Hold” and an average price target of $413.69.

Trane Technologies Trading Up 1.7 %

Shares of Trane Technologies stock opened at $339.72 on Thursday. Trane Technologies plc has a fifty-two week low of $285.62 and a fifty-two week high of $422.00. The business’s fifty day moving average is $366.02 and its two-hundred day moving average is $380.11. 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 cap of $76.20 billion, a PE ratio of 30.20, a P/E/G ratio of 2.50 and a beta of 1.08.

Trane Technologies (NYSE:TT) last released its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, topping 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%. Analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be given a $0.94 dividend. The ex-dividend date is Friday, March 7th. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 annualized dividend and a dividend yield of 1.11%. Trane Technologies’s dividend payout ratio (DPR) is currently 33.42%.

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.