Advisory Services Network LLC Raises Holdings in Trane Technologies plc (NYSE:TT)

Advisory Services Network LLC lifted its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 83.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,240 shares of the company's stock after acquiring an additional 4,650 shares during the quarter. Advisory Services Network LLC's holdings in Trane Technologies were worth $3,782,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in TT. Abacus FCF Advisors LLC raised its stake in shares of Trane Technologies by 147.0% during the 4th quarter. Abacus FCF Advisors LLC now owns 21,162 shares of the company's stock valued at $7,816,000 after buying an additional 12,596 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in Trane Technologies during the fourth quarter worth $13,396,000. Bank of Nova Scotia grew its position in Trane Technologies by 18.9% during the fourth quarter. Bank of Nova Scotia now owns 147,386 shares of the company's stock valued at $54,437,000 after buying an additional 23,416 shares during the period. Shelton Capital Management increased its holdings in Trane Technologies by 31.1% in the fourth quarter. Shelton Capital Management now owns 35,003 shares of the company's stock valued at $12,928,000 after buying an additional 8,305 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in shares of Trane Technologies by 0.8% during the 4th quarter. Quadrant Capital Group LLC now owns 3,786 shares of the company's stock worth $1,398,000 after acquiring an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Remove Ads

Trane Technologies Trading Up 0.0 %

Trane Technologies stock traded up $0.15 during mid-day trading on Tuesday, hitting $347.64. The company's stock had a trading volume of 303,677 shares, compared to its average volume of 1,284,272. The stock's fifty day moving average is $346.92 and its two-hundred day moving average is $376.13. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $77.97 billion, a PE ratio of 30.90, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a 1 year low of $286.32 and a 1 year high of $422.00.

Trane Technologies (NYSE:TT - Get Free Report) last posted its earnings results on Thursday, January 30th. The company reported $2.61 EPS 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%. On average, analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.08%. Trane Technologies's payout ratio is presently 33.42%.

Insider Activity at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 2,754 shares of the business's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total value of $984,114.36. Following the completion of the transaction, the chief executive officer now owns 132,969 shares in the company, valued at $47,515,142.46. The trade was a 2.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Christopher J. Kuehn sold 876 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.42, for a total value of $313,099.92. Following the completion of the sale, the chief financial officer now directly owns 63,841 shares in the company, valued at $22,818,050.22. This represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,234 shares of company stock worth $2,588,102. 0.38% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

TT has been the topic of several research analyst reports. Melius lowered Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 price objective on the stock. in a report on Tuesday, January 28th. Barclays reduced their price objective on shares of Trane Technologies from $500.00 to $475.00 and set an "overweight" rating for the company in a research report on Monday, March 10th. Royal Bank of Canada boosted their target price on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a "sector perform" rating in a research note on Friday, January 3rd. UBS Group decreased their price target on shares of Trane Technologies from $500.00 to $470.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Finally, Melius Research reiterated 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 given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Trane Technologies has a consensus rating of "Hold" and an average target price of $405.31.

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.