Horizon Investments LLC Purchases 3,520 Shares of Trane Technologies plc (NYSE:TT)

Horizon Investments LLC grew its stake in Trane Technologies plc (NYSE:TT - Free Report) by 61.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,221 shares of the company's stock after acquiring an additional 3,520 shares during the quarter. Horizon Investments LLC's holdings in Trane Technologies were worth $3,406,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Global Wealth Strategies & Associates bought a new stake in shares of Trane Technologies during the fourth quarter valued at approximately $26,000. MidAtlantic Capital Management Inc. purchased a new stake in Trane Technologies during the 3rd quarter valued at $27,000. Sound Income Strategies LLC increased its holdings in shares of Trane Technologies by 1,314.3% in the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company's stock worth $37,000 after purchasing an additional 92 shares in the last quarter. Flagship Wealth Advisors LLC purchased a new position in shares of Trane Technologies in the fourth quarter worth $37,000. Finally, Golden State Wealth Management LLC bought a new position in shares of Trane Technologies during the fourth quarter valued at $39,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Stock Performance

Shares of NYSE:TT traded down $2.03 during mid-day trading on Friday, reaching $347.30. 1,712,153 shares of the company traded hands, compared to its average volume of 1,166,105. Trane Technologies plc has a 52 week low of $286.32 and a 52 week high of $422.00. The firm has a market cap of $77.90 billion, a PE ratio of 30.87, a PEG ratio of 2.50 and a beta of 1.08. The company's 50 day moving average price is $361.24 and its 200-day moving average price is $379.75. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88.

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Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, topping 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 expect that Trane Technologies plc will post 12.83 EPS 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 dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Trane Technologies's previous quarterly dividend of $0.84. This represents a $3.76 dividend on an annualized basis and a yield of 1.08%. Trane Technologies's dividend payout ratio (DPR) is currently 33.42%.

Wall Street Analyst Weigh In

TT has been the subject of a number of recent analyst reports. Royal Bank of Canada boosted their target price 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. JPMorgan Chase & Co. lifted their price target on shares of Trane Technologies from $387.00 to $396.00 and gave the stock a "neutral" rating in a research note on Friday, January 31st. Citigroup lowered their price objective 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. Melius downgraded shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 target price for the company. in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company lowered their price target on Trane Technologies from $380.00 to $360.00 and set an "underweight" rating on the stock in a report on Friday, January 31st. One equities research 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's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $413.69.

Insider Activity

In other Trane Technologies news, SVP Mairead Magner sold 198 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total transaction of $70,806.78. Following the completion of the sale, the senior vice president now directly owns 13,401 shares of the company's stock, valued at $4,792,331.61. This trade represents a 1.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO David S. Regnery sold 2,754 shares of the business's stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 132,969 shares in the company, valued at $47,515,142.46. This trade represents a 2.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,234 shares of company stock worth $2,588,102 over the last ninety days. Corporate insiders own 0.38% of the company's stock.

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.