Strategic Advisors LLC Increases Stock Position in Trane Technologies plc (NYSE:TT)

Strategic Advisors LLC lifted its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 701.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,899 shares of the company's stock after acquiring an additional 5,163 shares during the period. Strategic Advisors LLC's holdings in Trane Technologies were worth $2,179,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Sierra Ocean LLC acquired a new position in shares of Trane Technologies during the 4th quarter valued at $63,000. Monument Capital Management increased its stake in Trane Technologies by 6.7% during the 4th quarter. Monument Capital Management now owns 6,966 shares of the company's stock valued at $2,573,000 after purchasing an additional 436 shares in the last quarter. J.W. Cole Advisors Inc. increased its stake in Trane Technologies by 3.4% during the 4th quarter. J.W. Cole Advisors Inc. now owns 1,790 shares of the company's stock valued at $661,000 after purchasing an additional 59 shares in the last quarter. Secured Retirement Advisors LLC increased its stake in Trane Technologies by 0.6% during the 4th quarter. Secured Retirement Advisors LLC now owns 4,628 shares of the company's stock valued at $1,709,000 after purchasing an additional 28 shares in the last quarter. Finally, Principal Securities Inc. increased its stake in Trane Technologies by 14.3% during the 4th quarter. Principal Securities Inc. now owns 5,584 shares of the company's stock valued at $2,063,000 after purchasing an additional 700 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Trane Technologies Stock Performance

NYSE:TT traded down $3.81 on Thursday, reaching $366.74. 1,140,128 shares of the company's stock were exchanged, compared to its average volume of 1,495,328. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. The firm has a market cap of $82.26 billion, a price-to-earnings ratio of 32.60, a P/E/G ratio of 2.48 and a beta of 1.05. Trane Technologies plc has a 52 week low of $274.77 and a 52 week high of $422.00. The stock has a fifty day simple moving average of $376.38 and a 200-day simple moving average of $379.24.

Trane Technologies (NYSE:TT - Get Free Report) last issued its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share 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%. As a group, sell-side analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date is Friday, March 7th. This is a positive change from Trane Technologies's previous quarterly dividend of $0.84. Trane Technologies's dividend payout ratio (DPR) is currently 29.87%.

Insiders Place Their Bets

In other news, CEO David S. Regnery sold 2,754 shares of the firm's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total value 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. This trade represents a 2.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Mairead Magner sold 198 shares of the firm's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total transaction of $70,806.78. Following the completion of the transaction, the senior vice president now owns 13,401 shares of the company's stock, valued at $4,792,331.61. This trade represents a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,563 shares of company stock worth $4,388,966 over the last quarter. 0.38% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have commented on TT shares. HSBC lowered shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $405.00 price target for the company. in a research note on Thursday, October 31st. Hsbc Global Res lowered shares of Trane Technologies from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. upped their target price on shares of Trane Technologies from $387.00 to $396.00 and gave the stock a "neutral" rating in a research note on Friday, January 31st. Citigroup reduced their target price on shares of Trane Technologies from $478.00 to $476.00 and set a "buy" rating for the company in a research note on Monday, January 13th. Finally, Northcoast Research assumed coverage on shares of Trane Technologies in a research note on Friday, November 22nd. They issued a "buy" rating and a $500.00 target price for the company. One 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, the company has a consensus rating of "Hold" and an average price target of $415.25.

Trane Technologies Company 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.