Abacus FCF Advisors LLC Increases Stock Holdings in Trane Technologies plc (NYSE:TT)

Abacus FCF Advisors LLC grew its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 147.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 21,162 shares of the company's stock after acquiring an additional 12,596 shares during the quarter. Trane Technologies comprises about 1.0% of Abacus FCF Advisors LLC's portfolio, making the stock its 26th biggest holding. Abacus FCF Advisors LLC's holdings in Trane Technologies were worth $7,816,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Secured Retirement Advisors LLC boosted its holdings in shares of Trane Technologies by 0.6% in 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. First Citizens Financial Corp lifted its position in shares of Trane Technologies by 4.6% during the 4th quarter. First Citizens Financial Corp now owns 656 shares of the company's stock worth $242,000 after buying an additional 29 shares during the last quarter. Catalina Capital Group LLC boosted its stake in Trane Technologies by 3.2% in the fourth quarter. Catalina Capital Group LLC now owns 924 shares of the company's stock valued at $341,000 after buying an additional 29 shares in the last quarter. Stratos Wealth Partners LTD. boosted its stake in Trane Technologies by 0.5% in the fourth quarter. Stratos Wealth Partners LTD. now owns 5,538 shares of the company's stock valued at $2,046,000 after buying an additional 29 shares in the last quarter. Finally, Kanawha Capital Management LLC grew its position in Trane Technologies by 0.6% in the fourth quarter. Kanawha Capital Management LLC now owns 4,712 shares of the company's stock valued at $1,740,000 after acquiring an additional 29 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

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Insider Activity at Trane Technologies

In other Trane Technologies news, CFO Christopher J. Kuehn sold 770 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $358.39, for a total value of $275,960.30. Following the transaction, the chief financial officer now owns 62,221 shares in the company, valued at approximately $22,299,384.19. This represents a 1.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Mairead Magner sold 198 shares of the business'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 value of $70,806.78. Following the sale, the senior vice president now owns 13,401 shares of the company's stock, valued at approximately $4,792,331.61. This represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,234 shares of company stock worth $2,588,102 in the last quarter. Company insiders own 0.38% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TT. 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. JPMorgan Chase & Co. cut their target price on shares of Trane Technologies from $396.00 to $323.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Citigroup dropped 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. Wells Fargo & Company reduced their price objective on Trane Technologies from $380.00 to $360.00 and set an "underweight" rating on the stock in a research report on Friday, January 31st. Finally, UBS Group lowered their target price on 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 assigned a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $409.13.

Trane Technologies Trading Up 2.3 %

NYSE TT traded up $7.84 during mid-day trading on Friday, reaching $346.17. 1,531,556 shares of the stock were exchanged, compared to its average volume of 1,288,233. The stock has a market cap of $77.64 billion, a P/E ratio of 30.77, a P/E/G 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 plc has a one year low of $286.32 and a one year high of $422.00. The stock has a 50 day simple moving average of $347.12 and a 200-day simple moving average of $376.38.

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 (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, analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.76 annualized dividend and a dividend yield of 1.09%. Trane Technologies's dividend payout ratio is currently 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.