Mizuho Securities USA LLC Has $7.88 Million Stock Holdings in Trane Technologies plc (NYSE:TT)

Mizuho Securities USA LLC raised its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 45.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,327 shares of the company's stock after purchasing an additional 6,694 shares during the period. Mizuho Securities USA LLC's holdings in Trane Technologies were worth $7,877,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quantbot Technologies LP lifted its stake in Trane Technologies by 131.4% in the fourth quarter. Quantbot Technologies LP now owns 26,593 shares of the company's stock valued at $9,822,000 after buying an additional 15,101 shares during the last quarter. Sciencast Management LP acquired a new position in Trane Technologies during the 4th quarter valued at about $922,000. Millstone Evans Group LLC acquired a new stake in shares of Trane Technologies in the fourth quarter valued at approximately $233,000. Washington Trust Bank boosted its position in shares of Trane Technologies by 5.7% during the fourth quarter. Washington Trust Bank now owns 1,587 shares of the company's stock worth $586,000 after buying an additional 86 shares during the period. Finally, TD Private Client Wealth LLC increased its position in Trane Technologies by 625.9% in the 4th quarter. TD Private Client Wealth LLC now owns 7,310 shares of the company's stock valued at $2,700,000 after acquiring an additional 6,303 shares during the period. Institutional investors and hedge funds own 82.97% of the company's stock.

Insider Activity at Trane Technologies

In other Trane Technologies news, CFO Christopher J. Kuehn sold 876 shares of the business's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total value of $313,099.92. Following the completion of the sale, the chief financial officer now owns 63,841 shares of the company's stock, valued at $22,818,050.22. The trade was a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Mairead Magner sold 198 shares of the 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 transaction, the senior vice president now directly owns 13,401 shares in the company, valued at approximately $4,792,331.61. This represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, 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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Trane Technologies Stock Down 1.6 %

NYSE:TT traded down $5.48 during trading hours on Thursday, hitting $346.58. 1,692,622 shares of the company's stock traded hands, compared to its average volume of 1,181,426. The stock's fifty day moving average price is $359.83 and its two-hundred day moving average price is $380.06. The firm has a market cap of $77.74 billion, a P/E ratio of 30.81, a P/E/G ratio of 2.50 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. Trane Technologies plc has a twelve month low of $286.32 and a twelve month high of $422.00.

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 (EPS) 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, research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be paid a $0.94 dividend. The ex-dividend date is Friday, March 7th. This represents a $3.76 dividend on an annualized basis and a yield of 1.08%. This is an increase from Trane Technologies's previous quarterly dividend of $0.84. Trane Technologies's payout ratio is 33.42%.

Analyst Ratings Changes

Several research firms have commented on TT. JPMorgan Chase & Co. raised their target price on shares of Trane Technologies from $387.00 to $396.00 and gave the company 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 note on Monday, January 13th. Royal Bank of Canada increased their price target on Trane Technologies from $390.00 to $395.00 and gave the company a "sector perform" rating in a research note on Friday, January 3rd. UBS Group dropped their price objective on Trane Technologies from $500.00 to $470.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Finally, Melius Research reaffirmed a "hold" rating and set a $398.00 target price on shares of Trane Technologies in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, Trane Technologies currently has a consensus rating of "Hold" and an average price target of $413.69.

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.