Fox Run Management L.L.C. bought a new stake in Trane Technologies plc (NYSE:TT - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,762 shares of the company's stock, valued at approximately $651,000.
A number of other institutional investors have also modified their holdings of TT. Advisors Asset Management Inc. increased its stake in shares of Trane Technologies by 23.7% during the third quarter. Advisors Asset Management Inc. now owns 3,728 shares of the company's stock worth $1,449,000 after acquiring an additional 714 shares during the period. Cerity Partners LLC increased its position in Trane Technologies by 40.4% during the 3rd quarter. Cerity Partners LLC now owns 87,093 shares of the company's stock worth $33,856,000 after purchasing an additional 25,045 shares during the period. Kingsview Wealth Management LLC raised its stake in shares of Trane Technologies by 1.6% during the 3rd quarter. Kingsview Wealth Management LLC now owns 4,590 shares of the company's stock worth $1,784,000 after buying an additional 72 shares in the last quarter. Larson Financial Group LLC raised its stake in shares of Trane Technologies by 5.3% during the 3rd quarter. Larson Financial Group LLC now owns 1,174 shares of the company's stock worth $456,000 after buying an additional 59 shares in the last quarter. Finally, Summit Trail Advisors LLC lifted its holdings in shares of Trane Technologies by 7.6% in the 3rd quarter. Summit Trail Advisors LLC now owns 4,281 shares of the company's stock valued at $1,664,000 after buying an additional 302 shares during the period. Institutional investors and hedge funds own 82.97% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts have issued reports on TT shares. Royal Bank of Canada increased their price objective on Trane Technologies from $390.00 to $395.00 and gave the stock a "sector perform" rating in a research report on Friday, January 3rd. Barclays cut their price target on shares of Trane Technologies from $500.00 to $475.00 and set an "overweight" rating for the company in a report on Monday, March 10th. Melius Research reissued a "hold" rating and set a $398.00 price objective on shares of Trane Technologies in a report on Tuesday, January 28th. Citigroup lowered their target price on shares of Trane Technologies from $478.00 to $476.00 and set a "buy" rating on the stock in a research report on Monday, January 13th. Finally, Wells Fargo & Company reduced their price target on shares of Trane Technologies from $380.00 to $360.00 and set an "underweight" rating for the company in a research report on Friday, January 31st. 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 company's stock. According to data from MarketBeat, Trane Technologies presently has a consensus rating of "Hold" and an average price target of $413.69.
Read Our Latest Report on TT
Trane Technologies Price Performance
Shares of NYSE:TT traded down $14.91 on Friday, hitting $331.69. The company had a trading volume of 2,337,018 shares, compared to its average volume of 1,255,708. The company has a market cap of $74.40 billion, a PE ratio of 29.48, a PEG ratio of 2.50 and a beta of 1.08. The business has a 50 day moving average of $357.83 and a 200 day moving average of $379.73. Trane Technologies plc has a 52-week low of $286.32 and a 52-week high of $422.00. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58.
Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. As a group, equities analysts anticipate 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 $0.94 dividend. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from Trane Technologies's previous quarterly dividend of $0.84. This represents a $3.76 annualized dividend and a yield of 1.13%. Trane Technologies's payout ratio is 33.42%.
Insiders Place Their Bets
In other news, CEO David S. Regnery sold 2,754 shares of the company's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total transaction of $984,114.36. Following the completion of the transaction, the chief executive officer now owns 132,969 shares of the company's stock, valued at $47,515,142.46. This represents a 2.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Christopher J. Kuehn sold 876 shares of the firm's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,234 shares of company stock valued at $2,588,102 in the last quarter. 0.38% of the stock is currently owned by company 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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