13,981 Shares in Trane Technologies plc (NYSE:TT) Acquired by Figure 8 Investment Strategies LLC

Figure 8 Investment Strategies LLC bought a new position in Trane Technologies plc (NYSE:TT - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 13,981 shares of the company's stock, valued at approximately $5,164,000. Trane Technologies comprises about 5.1% of Figure 8 Investment Strategies LLC's investment portfolio, making the stock its 4th biggest position.

Several other large investors also recently modified their holdings of the business. International Assets Investment Management LLC boosted its position in Trane Technologies by 35,914.4% during the 3rd quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company's stock valued at $639,514,000 after acquiring an additional 1,640,569 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Trane Technologies by 35.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company's stock valued at $991,460,000 after acquiring an additional 671,691 shares in the last quarter. FMR LLC lifted its holdings in shares of Trane Technologies by 4.0% during the third quarter. FMR LLC now owns 10,337,672 shares of the company's stock valued at $4,018,563,000 after purchasing an additional 397,537 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of Trane Technologies by 42.9% during the fourth quarter. Nordea Investment Management AB now owns 978,275 shares of the company's stock valued at $361,874,000 after purchasing an additional 293,916 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Trane Technologies by 76.9% during the third quarter. Assenagon Asset Management S.A. now owns 417,193 shares of the company's stock valued at $162,175,000 after purchasing an additional 181,335 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Mairead Magner sold 198 shares of Trane Technologies 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 transaction, the senior vice president now directly owns 13,401 shares of the company's stock, valued at $4,792,331.61. The trade was a 1.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Evan M. Turtz sold 318 shares of Trane Technologies stock in a transaction dated 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 directly owns 20,513 shares in the company, valued at approximately $7,346,115.56. The trade was a 1.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,563 shares of company stock valued at $4,388,966 in the last 90 days. Company insiders own 0.38% of the company's stock.

Trane Technologies Stock Performance

TT traded down $0.72 during mid-day trading on Tuesday, reaching $362.54. 1,319,251 shares of the company traded hands, compared to its average volume of 1,507,373. The stock has a market capitalization of $81.58 billion, a P/E ratio of 32.23, a P/E/G ratio of 2.44 and a beta of 1.05. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The company's fifty day moving average price is $376.98 and its 200-day moving average price is $379.31. Trane Technologies plc has a 52-week low of $270.50 and a 52-week high of $422.00.

Trane Technologies (NYSE:TT - Get Free Report) last announced its 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%. On average, sell-side analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The business also recently announced 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 of this dividend is Friday, March 7th. This is a positive change from Trane Technologies's previous quarterly dividend of $0.84. This represents a $3.76 dividend on an annualized basis and a yield of 1.04%. Trane Technologies's payout ratio is currently 29.87%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. HSBC lowered shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $405.00 target price for the company. in a report on Thursday, October 31st. UBS Group lowered their target price on shares of Trane Technologies from $500.00 to $470.00 and set a "buy" rating for the company in a report on Friday, January 31st. Hsbc Global Res lowered shares of Trane Technologies from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 31st. Melius lowered shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 target price for the company. in a report on Tuesday, January 28th. Finally, Melius Research restated a "hold" rating and issued a $398.00 price objective on shares of Trane Technologies in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $415.25.

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.