Trane Technologies plc (NYSE:TT) Shares Acquired by Natixis Advisors LLC

Natixis Advisors LLC raised its position in Trane Technologies plc (NYSE:TT - Free Report) by 23.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 167,348 shares of the company's stock after purchasing an additional 31,873 shares during the quarter. Natixis Advisors LLC owned 0.07% of Trane Technologies worth $61,810,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. MidAtlantic Capital Management Inc. acquired a new position in shares of Trane Technologies during the third quarter worth about $27,000. Global Wealth Strategies & Associates acquired a new position in Trane Technologies during the 4th quarter worth approximately $26,000. Sound Income Strategies LLC boosted its holdings in 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 acquiring an additional 92 shares during the period. Golden State Wealth Management LLC acquired a new stake in Trane Technologies in the fourth quarter valued at approximately $39,000. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of Trane Technologies during the third quarter valued at approximately $44,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on TT. Northcoast Research began 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. Citigroup lowered their target price 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. Melius cut Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 price target on the stock. in a research note on Tuesday, January 28th. JPMorgan Chase & Co. raised their price objective on Trane Technologies from $387.00 to $396.00 and gave the company a "neutral" rating in a research note on Friday, January 31st. Finally, Royal Bank of Canada upped their target price 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. One 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 stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $413.69.

Remove Ads

Insider Activity

In other news, CEO David S. Regnery sold 2,754 shares of the business'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 completion of the transaction, the chief executive officer now directly owns 132,969 shares in the company, valued at approximately $47,515,142.46. The trade was a 2.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Christopher J. Kuehn sold 876 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 63,841 shares of the company's stock, valued at $22,818,050.22. This trade represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,234 shares of company stock valued at $2,588,102. 0.38% of the stock is currently owned by company insiders.

Trane Technologies Stock Performance

Shares of NYSE TT traded down $0.82 during midday trading on Thursday, hitting $349.24. The company's stock had a trading volume of 1,279,524 shares, compared to its average volume of 1,595,391. 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 1-year low of $286.32 and a 1-year high of $422.00. The firm's fifty day moving average price is $362.58 and its 200-day moving average price is $379.83. The firm has a market cap of $78.33 billion, a P/E ratio of 31.04, a P/E/G ratio of 2.50 and a beta of 1.08.

Trane Technologies (NYSE:TT - Get Free Report) last posted its earnings results on Thursday, January 30th. The company reported $2.61 EPS for the quarter, beating 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%. On average, sell-side analysts forecast that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The business 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. This represents a $3.76 dividend on an annualized basis and a yield of 1.08%. This is a boost from Trane Technologies's previous quarterly dividend of $0.84. The ex-dividend date is Friday, March 7th. Trane Technologies's dividend payout ratio (DPR) is presently 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.