Hillsdale Investment Management Inc. Invests $683,000 in Trane Technologies plc (NYSE:TT)

Hillsdale Investment Management Inc. bought a new position in Trane Technologies plc (NYSE:TT - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 1,850 shares of the company's stock, valued at approximately $683,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Global Wealth Strategies & Associates purchased a new stake in Trane Technologies during the fourth quarter valued at $26,000. Sound Income Strategies LLC grew its stake in shares of Trane Technologies by 1,314.3% during the 4th 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 period. Flagship Wealth Advisors LLC purchased a new stake in shares of Trane Technologies during the 4th quarter valued at about $37,000. Golden State Wealth Management LLC bought a new position in shares of Trane Technologies in the 4th quarter worth approximately $39,000. Finally, Legacy Investment Solutions LLC bought a new position in Trane Technologies in the third quarter worth approximately $44,000. Institutional investors own 82.97% of the company's stock.

Insider Activity at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 2,754 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total transaction of $984,114.36. Following the sale, the chief executive officer now directly owns 132,969 shares in the company, valued at $47,515,142.46. This represents a 2.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Christopher J. Kuehn sold 770 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were 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 of the company's stock, valued at $22,299,384.19. The trade was a 1.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,234 shares of company stock valued at $2,588,102. 0.38% of the stock is owned by corporate insiders.

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Wall Street Analyst Weigh In

Several research firms have recently commented on TT. UBS Group reduced their price objective on Trane Technologies from $500.00 to $470.00 and set a "buy" rating for the company in a research note on Friday, January 31st. Citigroup reduced their price target on Trane Technologies from $478.00 to $476.00 and set a "buy" rating for the company in a research report on Monday, January 13th. Royal Bank of Canada lifted their price objective on Trane Technologies from $390.00 to $395.00 and gave the company a "sector perform" rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. increased their target price on shares of Trane Technologies from $387.00 to $396.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. Finally, Wells Fargo & Company lowered their price target on shares of Trane Technologies from $380.00 to $360.00 and set an "underweight" rating on the stock in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $413.69.

Trane Technologies Price Performance

NYSE TT traded down $5.48 on Thursday, reaching $346.58. The company had a trading volume of 1,692,622 shares, compared to its average volume of 1,181,426. The stock has a market capitalization of $77.74 billion, a PE ratio of 30.81, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a 12 month low of $286.32 and a 12 month high of $422.00. 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 firm's 50 day moving average price is $359.83 and its 200 day moving average price is $380.06.

Trane Technologies (NYSE:TT - Get Free Report) last issued its 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 return on equity of 35.37% and a net margin of 12.94%. As a group, equities analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.08%. This is a boost 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 33.42%.

About Trane Technologies

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.