United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Makes New $517,000 Investment in Trane Technologies plc (NYSE:TT)

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in shares of Trane Technologies plc (NYSE:TT) during the 4th quarter, Holdings Channel reports. The fund bought 1,400 shares of the company’s stock, valued at approximately $517,000.

A number of other institutional investors and hedge funds have also made changes to their positions in TT. Financial Engines Advisors L.L.C. increased its stake in Trane Technologies by 1.8% in the 4th quarter. Financial Engines Advisors L.L.C. now owns 6,350 shares of the company’s stock valued at $2,345,000 after purchasing an additional 111 shares in the last quarter. Penobscot Investment Management Company Inc. increased its position in shares of Trane Technologies by 7.9% in the fourth quarter. Penobscot Investment Management Company Inc. now owns 4,379 shares of the company’s stock valued at $1,617,000 after buying an additional 321 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of Trane Technologies by 12.7% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,632 shares of the company’s stock worth $1,711,000 after buying an additional 521 shares during the last quarter. TD Asset Management Inc. boosted its position in shares of Trane Technologies by 6.0% in the 4th quarter. TD Asset Management Inc. now owns 1,079,456 shares of the company’s stock worth $398,697,000 after buying an additional 60,986 shares in the last quarter. Finally, Modern Wealth Management LLC grew its stake in Trane Technologies by 59.9% in the 4th quarter. Modern Wealth Management LLC now owns 3,060 shares of the company’s stock valued at $1,103,000 after acquiring an additional 1,146 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on TT shares. 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. Barclays cut their price objective 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. Wells Fargo & Company lowered their target price on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. JPMorgan Chase & Co. boosted their price target on Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Finally, Melius Research reaffirmed a “hold” rating and set a $398.00 price objective on shares of Trane Technologies in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Trane Technologies has an average rating of “Hold” and a consensus price target of $413.69.

Trane Technologies Trading Down 3.2 %

Shares of TT stock opened at $352.29 on Thursday. The firm’s 50-day simple moving average is $359.83 and its 200-day simple moving average is $380.06. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. Trane Technologies plc has a 1-year low of $286.32 and a 1-year high of $422.00. The firm has a market cap of $79.01 billion, a P/E ratio of 31.31, a PEG ratio of 2.50 and a beta of 1.08.

Trane Technologies (NYSE:TT) last announced 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, equities analysts forecast that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be paid a dividend of $0.94 per share. The ex-dividend date is Friday, March 7th. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 annualized dividend and a yield of 1.07%. Trane Technologies’s dividend payout ratio is currently 33.42%.

Insider Transactions at Trane Technologies

In other news, SVP Mairead Magner sold 198 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total value of $70,806.78. Following the transaction, the senior vice president now owns 13,401 shares of the company’s stock, valued at approximately $4,792,331.61. This trade represents a 1.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Evan M. Turtz sold 318 shares of the company’s stock in a transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,234 shares of company stock worth $2,588,102 in the last three months. 0.38% of the stock is currently owned by company insiders.

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.