Renasant Bank lifted its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 46.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,392 shares of the company's stock after buying an additional 763 shares during the period. Renasant Bank's holdings in Trane Technologies were worth $883,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of TT. King Wealth Management Group grew its stake in Trane Technologies by 140.7% in the 4th quarter. King Wealth Management Group now owns 11,637 shares of the company's stock valued at $4,298,000 after purchasing an additional 6,803 shares during the period. Impact Capital Partners LLC bought a new position in Trane Technologies in the 4th quarter valued at $1,148,000. Commonwealth Equity Services LLC grew its stake in shares of Trane Technologies by 4.9% during the 4th quarter. Commonwealth Equity Services LLC now owns 71,622 shares of the company's stock worth $26,454,000 after acquiring an additional 3,332 shares during the period. PGGM Investments grew its stake in shares of Trane Technologies by 9.8% during the 4th quarter. PGGM Investments now owns 61,033 shares of the company's stock worth $22,543,000 after acquiring an additional 5,437 shares during the period. Finally, Balboa Wealth Partners grew its stake in shares of Trane Technologies by 18.7% during the 4th quarter. Balboa Wealth Partners now owns 1,098 shares of the company's stock worth $406,000 after acquiring an additional 173 shares during the period. Hedge funds and other institutional investors own 82.97% of the company's stock.
Trane Technologies Price Performance
Shares of NYSE:TT traded down $6.67 on Tuesday, hitting $344.27. The company's stock had a trading volume of 1,502,763 shares, compared to its average volume of 1,158,893. The company has a 50-day simple moving average of $364.02 and a 200 day simple moving average of $380.16. Trane Technologies plc has a 1 year low of $286.32 and a 1 year high of $422.00. The company has a market capitalization of $77.22 billion, a PE ratio of 30.60, a PEG ratio of 2.50 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88.
Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share 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%. Sell-side analysts forecast that Trane Technologies plc will post 12.83 EPS for the current fiscal year.
Trane Technologies Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.09%. 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 (DPR) is currently 33.42%.
Insider Activity at Trane Technologies
In related news, CEO David S. Regnery sold 2,754 shares of the firm'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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Christopher J. Kuehn sold 876 shares of the firm's 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 transaction, the chief financial officer now owns 63,841 shares in the company, valued at approximately $22,818,050.22. The trade was a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,234 shares of company stock valued at $2,588,102. Corporate insiders own 0.38% of the company's stock.
Analysts Set New Price Targets
Several research firms have recently weighed in on TT. UBS Group cut their price target 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 cut 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. Barclays cut their price target on Trane Technologies from $500.00 to $475.00 and set an "overweight" rating for the company in a research note on Monday, March 10th. Melius Research reissued a "hold" rating and set a $398.00 price objective on shares of Trane Technologies in a report on Tuesday, January 28th. Finally, Melius cut Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 price objective on the stock. in a report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $413.69.
Read Our Latest Report on TT
About Trane Technologies
(
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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