Marietta Investment Partners LLC Raises Stake in Trane Technologies plc (NYSE:TT)

Marietta Investment Partners LLC boosted its position in Trane Technologies plc (NYSE:TT) by 7.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,832 shares of the company’s stock after buying an additional 1,580 shares during the period. Trane Technologies makes up approximately 1.9% of Marietta Investment Partners LLC’s investment portfolio, making the stock its 14th largest holding. Marietta Investment Partners LLC’s holdings in Trane Technologies were worth $8,802,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Global Wealth Strategies & Associates acquired a new position in Trane Technologies in the fourth quarter valued at approximately $26,000. Sound Income Strategies LLC lifted its holdings in Trane Technologies by 1,314.3% in the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after acquiring an additional 92 shares during the period. Flagship Wealth Advisors LLC acquired a new position in Trane Technologies in the fourth quarter valued at approximately $37,000. Golden State Wealth Management LLC acquired a new position in Trane Technologies in the fourth quarter valued at approximately $39,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of Trane Technologies during the 3rd 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 $347.30 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. Trane Technologies plc has a fifty-two week low of $286.32 and a fifty-two week high of $422.00. The firm has a market capitalization of $77.90 billion, a PE ratio of 30.87, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. The stock’s 50-day simple moving average is $361.24 and its 200-day simple moving average is $379.52.

Trane Technologies (NYSE:TT) last issued 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%. As a group, equities research analysts forecast that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s dividend payout ratio (DPR) is 33.42%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TT. Melius Research reaffirmed a “hold” rating and set a $398.00 target price on shares of Trane Technologies in a research note on Tuesday, January 28th. 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, March 10th. Melius cut Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price for the company. in a report on Tuesday, January 28th. Northcoast Research began coverage on Trane Technologies in a report on Friday, November 22nd. They issued a “buy” rating and a $500.00 target price for the company. Finally, UBS Group lowered their price target on Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a report on Friday, January 31st. One 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 MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $413.69.

Insider Buying and Selling

In related news, CFO Christopher J. Kuehn sold 770 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 62,221 shares in the company, valued at $22,299,384.19. This trade represents a 1.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO David S. Regnery sold 2,318 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $358.17, for a total value of $830,238.06. Following the transaction, the chief executive officer now owns 126,831 shares in the company, valued at $45,427,059.27. This represents a 1.79 % 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. 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.