Generali Asset Management SPA SGR Takes $12.85 Million Position in Trane Technologies plc (NYSE:TT)

Generali Asset Management SPA SGR purchased a new position in shares of Trane Technologies plc (NYSE:TT - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 34,787 shares of the company's stock, valued at approximately $12,849,000.

Several other hedge funds have also recently modified their holdings of TT. Cobblestone Capital Advisors LLC NY lifted its position in Trane Technologies by 1.8% in the third quarter. Cobblestone Capital Advisors LLC NY now owns 1,490 shares of the company's stock valued at $579,000 after acquiring an additional 27 shares during the last quarter. Wescott Financial Advisory Group LLC lifted its holdings in shares of Trane Technologies by 1.7% in the third quarter. Wescott Financial Advisory Group LLC now owns 1,723 shares of the company's stock valued at $670,000 after purchasing an additional 28 shares in the last quarter. Secured Retirement Advisors LLC lifted its stake in shares of Trane Technologies by 0.6% during the fourth quarter. Secured Retirement Advisors LLC now owns 4,628 shares of the company's stock valued at $1,709,000 after buying an additional 28 shares during the period. First Citizens Financial Corp lifted its stake in shares of Trane Technologies by 4.6% during the fourth quarter. First Citizens Financial Corp now owns 656 shares of the company's stock valued at $242,000 after buying an additional 29 shares during the period. Finally, Catalina Capital Group LLC raised its stake in Trane Technologies by 3.2% during the fourth quarter. Catalina Capital Group LLC now owns 924 shares of the company's stock worth $341,000 after purchasing an additional 29 shares during the period. Institutional investors and hedge funds own 82.97% of the company's stock.

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Trane Technologies Stock Performance

Shares of Trane Technologies stock traded down $2.03 during trading on Friday, hitting $347.30. 1,712,153 shares of the company's 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 1 year low of $286.32 and a 1 year high of $422.00. The stock has a market capitalization of $77.90 billion, a P/E ratio of 30.87, a PEG ratio of 2.50 and a beta of 1.08. The business has a 50-day simple moving average of $361.24 and a 200-day simple moving average of $379.52.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The company reported $2.61 EPS 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%. As a group, analysts forecast that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be paid a dividend of $0.94 per share. 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 dividend yield of 1.08%. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies's dividend payout ratio (DPR) is currently 33.42%.

Analysts Set New Price Targets

Several brokerages have weighed in on TT. UBS Group decreased their price objective 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. Melius cut shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 price objective on the stock. in a research note on Tuesday, January 28th. Wells Fargo & Company dropped their target price on shares of Trane Technologies from $380.00 to $360.00 and set an "underweight" rating on the stock in a research report on Friday, January 31st. Citigroup decreased their price target on shares of Trane Technologies from $478.00 to $476.00 and set a "buy" rating for the company in a report on Monday, January 13th. Finally, 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 note on Monday, March 10th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $413.69.

Insider Buying and Selling

In related news, CFO Christopher J. Kuehn sold 876 shares of the business's stock in a transaction 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 transaction, the chief financial officer now directly owns 63,841 shares in the company, valued at $22,818,050.22. The trade was a 1.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Mairead Magner sold 198 shares of the business's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total value of $70,806.78. Following the sale, the senior vice president now owns 13,401 shares in the company, valued at approximately $4,792,331.61. The trade was a 1.46 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 7,234 shares of company stock valued at $2,588,102. Insiders own 0.38% of the company's stock.

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.