Sciencast Management LP Takes Position in Trane Technologies plc (NYSE:TT)

Sciencast Management LP purchased a new stake in Trane Technologies plc (NYSE:TT - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,496 shares of the company's stock, valued at approximately $922,000.

A number of other hedge funds and other institutional investors have also modified their holdings of TT. Global Wealth Strategies & Associates bought a new stake in Trane Technologies during the fourth quarter worth $26,000. Sound Income Strategies LLC increased 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 worth $37,000 after purchasing an additional 92 shares during the last quarter. Flagship Wealth Advisors LLC bought a new stake in shares of Trane Technologies in the 4th quarter valued at about $37,000. Golden State Wealth Management LLC acquired a new stake in Trane Technologies in the 4th quarter valued at about $39,000. Finally, Legacy Investment Solutions LLC bought a new position in Trane Technologies during the third quarter worth about $44,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on TT shares. JPMorgan Chase & Co. upped 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. Melius Research restated a "hold" rating and issued a $398.00 price target on shares of Trane Technologies in a research note on Tuesday, January 28th. UBS Group reduced their price objective on shares of Trane Technologies from $500.00 to $470.00 and set a "buy" rating for the company in a research report on Friday, January 31st. Royal Bank of Canada increased their price objective on shares of Trane Technologies from $390.00 to $395.00 and gave the company a "sector perform" rating in a research report on Friday, January 3rd. Finally, 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 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's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $413.69.

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Insider Activity

In other Trane Technologies news, SVP Mairead Magner sold 198 shares of Trane Technologies stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total value of $70,806.78. Following the transaction, the senior vice president now owns 13,401 shares in the company, valued at $4,792,331.61. The trade was a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO David S. Regnery sold 2,754 shares of the stock in a transaction dated 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 of the company's stock, 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. In the last ninety days, insiders sold 7,234 shares of company stock worth $2,588,102. 0.38% of the stock is currently owned by corporate insiders.

Trane Technologies Price Performance

Shares of NYSE TT traded down $5.48 during midday trading on Thursday, reaching $346.58. The company's stock had a trading volume of 1,692,622 shares, compared to its average volume of 1,181,426. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. The company 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 business's 50 day moving average price is $359.83 and its two-hundred day moving average price is $380.06. Trane Technologies plc has a fifty-two week low of $286.32 and a fifty-two week high of $422.00.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings data 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%. On average, 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. Shareholders of record on Friday, March 7th will be paid a dividend of $0.94 per share. 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. The ex-dividend date is Friday, March 7th. Trane Technologies's dividend payout ratio 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.