Consolidated Planning Corp lifted its stake in Trane Technologies plc (NYSE:TT - Free Report) by 8.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,252 shares of the company's stock after buying an additional 1,091 shares during the period. Consolidated Planning Corp's holdings in Trane Technologies were worth $5,264,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Tidal Investments LLC lifted its position in shares of Trane Technologies by 22.2% during the 3rd quarter. Tidal Investments LLC now owns 15,827 shares of the company's stock valued at $6,152,000 after acquiring an additional 2,874 shares during the last quarter. Synovus Financial Corp lifted its stake in shares of Trane Technologies by 16.8% in the third quarter. Synovus Financial Corp now owns 8,828 shares of the company's stock valued at $3,431,000 after buying an additional 1,271 shares during the period. Ameritas Advisory Services LLC bought a new stake in shares of Trane Technologies in the fourth quarter valued at about $468,000. HB Wealth Management LLC boosted its holdings in 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 purchasing an additional 711 shares in the last quarter. Finally, GDS Wealth Management boosted its holdings in shares of Trane Technologies by 4.3% in the 3rd quarter. GDS Wealth Management now owns 51,767 shares of the company's stock worth $20,123,000 after acquiring an additional 2,124 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts have commented on the stock. Barclays upped their target price on shares of Trane Technologies from $440.00 to $500.00 and gave the company an "overweight" rating in a research report on Thursday, December 5th. Wells Fargo & Company cut their target price on shares of Trane Technologies from $380.00 to $360.00 and set an "underweight" rating for the company in a research note on Friday, January 31st. Melius cut shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 target price on the stock. in a report on Tuesday, January 28th. Royal Bank of Canada increased their price target on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a "sector perform" rating in a research report on Friday, January 3rd. Finally, Robert W. Baird cut their target price on shares of Trane Technologies from $408.00 to $404.00 and set a "neutral" rating on the stock in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $415.25.
Check Out Our Latest Analysis on TT
Trane Technologies Stock Performance
Shares of NYSE TT traded up $2.30 during trading hours on Friday, hitting $363.58. 1,019,591 shares of the company's stock were exchanged, compared to its average volume of 1,525,975. The company's 50-day moving average price is $378.44 and its 200-day moving average price is $378.47. 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 $81.81 billion, a price-to-earnings ratio of 32.32, a PEG ratio of 2.44 and a beta of 1.05. Trane Technologies plc has a 1-year low of $270.50 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 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%. On average, sell-side analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.
Trane Technologies Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a dividend of $0.94 per share. This is an increase from Trane Technologies's previous quarterly dividend of $0.84. This represents a $3.76 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date is Friday, March 7th. Trane Technologies's dividend payout ratio (DPR) is presently 29.87%.
Insider Transactions at Trane Technologies
In other news, SVP Evan M. Turtz sold 318 shares of the company's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $358.12, for a total value of $113,882.16. Following the transaction, the senior vice president now owns 20,513 shares in the company, valued at approximately $7,346,115.56. This represents a 1.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Mairead Magner sold 198 shares of the stock in a transaction on 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,563 shares of company stock valued at $4,388,966 in the last 90 days. 0.38% of the stock is currently owned by corporate insiders.
Trane Technologies Profile
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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.
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