Advisors Capital Management LLC boosted its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 2.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 160,686 shares of the company's stock after buying an additional 3,852 shares during the quarter. Trane Technologies makes up 0.9% of Advisors Capital Management LLC's portfolio, making the stock its 23rd largest position. Advisors Capital Management LLC owned 0.07% of Trane Technologies worth $59,350,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently added to or reduced their stakes in the stock. Tidal Investments LLC lifted its position in shares of Trane Technologies by 22.2% in the 3rd quarter. Tidal Investments LLC now owns 15,827 shares of the company's stock worth $6,152,000 after purchasing an additional 2,874 shares during the period. Synovus Financial Corp boosted its position in Trane Technologies by 16.8% during the third quarter. Synovus Financial Corp now owns 8,828 shares of the company's stock valued at $3,431,000 after purchasing an additional 1,271 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in Trane Technologies in the fourth quarter valued at about $468,000. HB Wealth Management LLC lifted its position in shares of Trane Technologies by 14.3% during the fourth quarter. HB Wealth Management LLC now owns 5,689 shares of the company's stock valued at $2,101,000 after buying an additional 711 shares during the last quarter. Finally, Crossmark Global Holdings Inc. grew its position in shares of Trane Technologies by 31.2% in the 4th quarter. Crossmark Global Holdings Inc. now owns 29,057 shares of the company's stock worth $10,733,000 after buying an additional 6,910 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.
Trane Technologies Price Performance
NYSE TT traded up $2.69 during mid-day trading on Friday, hitting $333.33. The stock had a trading volume of 2,243,922 shares, compared to its average volume of 1,297,823. The firm's 50 day moving average is $345.60 and its 200 day moving average is $375.21. 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 $74.76 billion, a price-to-earnings ratio of 29.63, a PEG ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a twelve month low of $286.32 and a twelve month high of $422.00.
Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, topping 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%. Equities research analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.
Trane Technologies Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Friday, June 6th. Trane Technologies's payout ratio is currently 33.42%.
Wall Street Analyst Weigh In
Several research firms have issued reports on TT. Royal Bank of Canada lifted their price target on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a "sector perform" rating in a report on Friday, January 3rd. Melius Research restated a "hold" rating and set a $398.00 price target on shares of Trane Technologies in a research note on Tuesday, January 28th. Melius cut shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 price target for the company. in a report on Tuesday, January 28th. JPMorgan Chase & Co. reduced their target price on Trane Technologies from $396.00 to $323.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Finally, Citigroup decreased their price objective on shares of Trane Technologies from $476.00 to $415.00 and set a "buy" rating for the company in a research note on Monday. One 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, the stock currently has a consensus rating of "Hold" and a consensus price target of $405.31.
Get Our Latest Stock Analysis on Trane Technologies
Insider Transactions at Trane Technologies
In related news, SVP Mairead Magner sold 198 shares of the firm's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total transaction of $70,806.78. Following the completion of the sale, the senior vice president now directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Christopher J. Kuehn sold 770 shares of the 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 transaction, the chief financial officer now directly owns 62,221 shares of the company's stock, valued at approximately $22,299,384.19. This trade represents a 1.22 % decrease in their position. 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 quarter. Company insiders own 0.38% of the company's stock.
Trane Technologies Company Profile
(
Free Report)
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.
Further Reading
Before you consider Trane Technologies, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Trane Technologies wasn't on the list.
While Trane Technologies currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
