Globeflex Capital L P acquired a new stake in Trane Technologies plc (NYSE:TT - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 52,000 shares of the company's stock, valued at approximately $19,206,000. Trane Technologies makes up approximately 1.6% of Globeflex Capital L P's portfolio, making the stock its 14th largest holding.
Other hedge funds and other institutional investors have also modified their holdings of the company. Tidal Investments LLC lifted its holdings in 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 purchasing an additional 2,874 shares during the last quarter. Synovus Financial Corp raised its position 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 purchasing an additional 1,271 shares during the period. Ameritas Advisory Services LLC acquired a new stake in shares of Trane Technologies during the 4th quarter worth about $468,000. HB Wealth Management LLC boosted its holdings in shares of Trane Technologies by 14.3% during the 4th quarter. HB Wealth Management LLC now owns 5,689 shares of the company's stock worth $2,101,000 after buying an additional 711 shares during the period. Finally, King Wealth Management Group acquired a new position in Trane Technologies in the 3rd quarter valued at about $1,879,000. Institutional investors and hedge funds own 82.97% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on TT. Royal Bank of Canada lifted their target price on Trane Technologies from $390.00 to $395.00 and gave the stock a "sector perform" rating in a report on Friday, January 3rd. Citigroup dropped their price target on Trane Technologies from $478.00 to $476.00 and set a "buy" rating for the company in a research note on Monday, January 13th. Wells Fargo & Company cut 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 report on Friday, January 31st. Barclays decreased their target price on shares of Trane Technologies from $500.00 to $475.00 and set an "overweight" rating on the stock in a report on Monday, March 10th. Finally, Northcoast Research started coverage on shares of Trane Technologies in a report on Friday, November 22nd. They set a "buy" rating and a $500.00 price target for the company. One equities 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $413.69.
Check Out Our Latest Analysis on Trane Technologies
Insiders Place Their Bets
In other news, CFO Christopher J. Kuehn sold 876 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.42, for a total transaction of $313,099.92. Following the transaction, the chief financial officer now owns 63,841 shares of the company's stock, valued at $22,818,050.22. This represents a 1.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Mairead Magner sold 198 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total value of $70,806.78. Following the completion of the transaction, 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 ninety days, insiders sold 7,234 shares of company stock worth $2,588,102. Company insiders own 0.38% of the company's stock.
Trane Technologies Trading Up 1.8 %
Trane Technologies stock traded up $6.22 during trading hours on Wednesday, hitting $350.28. The stock had a trading volume of 1,078,889 shares, compared to its average volume of 1,160,154. The business's 50 day simple moving average is $363.30 and its 200-day simple moving average is $380.04. Trane Technologies plc has a one year low of $286.32 and a one year high of $422.00. The stock has a market cap of $78.56 billion, a price-to-earnings ratio of 31.14, a P/E/G ratio of 2.50 and a beta of 1.08. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58.
Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) 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, equities analysts predict that Trane Technologies plc will post 12.83 EPS for the current fiscal year.
Trane Technologies Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a dividend of $0.94 per share. The ex-dividend date is Friday, March 7th. This represents a $3.76 dividend on an annualized basis and a yield of 1.07%. This is a boost from Trane Technologies's previous quarterly dividend of $0.84. Trane Technologies's dividend payout ratio is 33.42%.
Trane Technologies Company Profile
(
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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