Stevens Capital Management LP Raises Holdings in Trane Technologies plc (NYSE:TT)

Stevens Capital Management LP lifted its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 134.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,301 shares of the company's stock after acquiring an additional 745 shares during the quarter. Stevens Capital Management LP's holdings in Trane Technologies were worth $481,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of TT. Raymond James Financial Inc. acquired a new stake in shares of Trane Technologies during the fourth quarter valued at about $611,322,000. FMR LLC boosted its position in Trane Technologies by 4.0% during the 3rd quarter. FMR LLC now owns 10,337,672 shares of the company's stock worth $4,018,563,000 after buying an additional 397,537 shares during the period. Bank Julius Baer & Co. Ltd Zurich grew its holdings in Trane Technologies by 455.2% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 427,226 shares of the company's stock worth $167,977,000 after acquiring an additional 350,277 shares during the last quarter. Nordea Investment Management AB increased its position in Trane Technologies by 42.9% in the 4th quarter. Nordea Investment Management AB now owns 978,275 shares of the company's stock valued at $361,874,000 after acquiring an additional 293,916 shares during the period. Finally, Proficio Capital Partners LLC raised its stake in shares of Trane Technologies by 47,293.6% during the fourth quarter. Proficio Capital Partners LLC now owns 253,082 shares of the company's stock valued at $93,476,000 after acquiring an additional 252,548 shares during the last quarter. Institutional investors own 82.97% of the company's stock.

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Trane Technologies Stock Down 4.3 %

NYSE:TT traded down $14.91 on Friday, hitting $331.69. The stock had a trading volume of 2,337,018 shares, compared to its average volume of 1,255,708. The business's fifty day moving average is $357.83 and its 200 day moving average is $379.73. Trane Technologies plc has a 52 week low of $286.32 and a 52 week high of $422.00. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The company has a market cap of $74.40 billion, a PE ratio of 29.48, a P/E/G ratio of 2.50 and a beta of 1.08.

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 (EPS) for the quarter, beating analysts' consensus estimates 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, equities research analysts expect 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 given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.13%. This is an increase 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 is presently 33.42%.

Insider Buying and Selling at Trane Technologies

In other news, CEO David S. Regnery sold 2,754 shares of the firm'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 sale, 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Christopher J. Kuehn sold 876 shares of Trane Technologies stock in a transaction 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 sale, the chief financial officer now owns 63,841 shares in the company, valued at $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 90 days, insiders sold 7,234 shares of company stock worth $2,588,102. Insiders own 0.38% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on TT shares. Wells Fargo & Company reduced their price objective on shares of Trane Technologies from $380.00 to $360.00 and set an "underweight" rating on the stock in a research note on Friday, January 31st. JPMorgan Chase & Co. increased their price target 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 set a $398.00 price objective on shares of Trane Technologies in a research report on Tuesday, January 28th. Citigroup reduced their target price on Trane Technologies from $478.00 to $476.00 and set a "buy" rating on the stock in a report on Monday, January 13th. Finally, UBS Group lowered their price target on shares of Trane Technologies from $500.00 to $470.00 and set a "buy" rating for the company in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus 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.