Envestnet Portfolio Solutions Inc. Buys 1,277 Shares of Trane Technologies plc (NYSE:TT)

Envestnet Portfolio Solutions Inc. grew its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 10.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 13,371 shares of the company's stock after buying an additional 1,277 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Trane Technologies were worth $4,939,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. MidAtlantic Capital Management Inc. purchased a new position in Trane Technologies during the 3rd quarter valued at about $27,000. Global Wealth Strategies & Associates bought a new position in shares of Trane Technologies during the fourth quarter valued at approximately $26,000. Sound Income Strategies LLC lifted its holdings in shares of Trane Technologies by 1,314.3% during the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company's stock valued at $37,000 after purchasing an additional 92 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in shares of Trane Technologies in the 4th quarter worth approximately $39,000. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of Trane Technologies in the 3rd quarter worth approximately $44,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Insider Buying and Selling at Trane Technologies

In other 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 transaction, the senior vice president now owns 13,401 shares in the company, valued at $4,792,331.61. This trade represents a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Christopher J. Kuehn sold 770 shares of Trane Technologies stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $358.39, for a total value of $275,960.30. Following the completion of the sale, the chief financial officer now directly owns 62,221 shares in the company, valued at $22,299,384.19. This trade represents a 1.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,234 shares of company stock valued at $2,588,102 in the last three months. 0.38% of the stock is currently owned by corporate insiders.

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Wall Street Analyst Weigh In

TT has been the topic of several analyst reports. JPMorgan Chase & Co. boosted their target price on Trane Technologies from $387.00 to $396.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. UBS Group dropped 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. Wells Fargo & Company reduced their price objective 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. Royal Bank of Canada boosted their price target on Trane Technologies from $390.00 to $395.00 and gave the stock a "sector perform" rating in a research note on Friday, January 3rd. Finally, Melius cut Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 price objective on the stock. in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $413.69.

Trane Technologies Price Performance

Shares of TT stock traded down $2.03 on Friday, hitting $347.30. 1,712,153 shares of the stock traded hands, compared to its average volume of 1,165,697. 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 52 week low of $286.32 and a 52 week high of $422.00. The firm has a 50 day simple moving average of $361.24 and a two-hundred day simple moving average of $379.52. The firm has a market cap of $77.90 billion, a price-to-earnings ratio of 30.87, a PEG ratio of 2.50 and a beta of 1.08.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly 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 return on equity of 35.37% and a net margin of 12.94%. As a group, equities research analysts predict 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 paid a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.08%. This is an increase from Trane Technologies's previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies's dividend payout ratio is presently 33.42%.

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.