Asset Management One Co. Ltd. Raises Stock Holdings in Trane Technologies plc (NYSE:TT)

Asset Management One Co. Ltd. lifted its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 5.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 94,699 shares of the company's stock after acquiring an additional 4,829 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Trane Technologies were worth $35,373,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TT. Global Wealth Strategies & Associates bought a new stake in Trane Technologies during the 4th quarter valued at approximately $26,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Trane Technologies during the third quarter valued at approximately $27,000. DT Investment Partners LLC bought a new stake in shares of Trane Technologies during the third quarter valued at approximately $36,000. Sound Income Strategies LLC lifted its holdings in shares of Trane Technologies by 1,314.3% in the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company's stock worth $37,000 after buying an additional 92 shares in the last quarter. Finally, Pittenger & Anderson Inc. bought a new position in shares of Trane Technologies during the third quarter worth $39,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Trading Down 0.0 %

Trane Technologies stock traded down $0.16 during mid-day trading on Tuesday, hitting $363.10. The company's stock had a trading volume of 720,996 shares, compared to its average volume of 1,486,404. 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 50 day moving average of $377.68 and a 200-day moving average of $379.00. Trane Technologies plc has a one year low of $270.50 and a one year high of $422.00. The stock has a market cap of $81.71 billion, a PE ratio of 32.24, a P/E/G ratio of 2.44 and a beta of 1.05.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The company reported $2.61 EPS 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%. On average, research analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from Trane Technologies's previous quarterly dividend of $0.84. Trane Technologies's payout ratio is currently 29.87%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Melius Research restated a "hold" rating and set a $398.00 price target on shares of Trane Technologies in a report on Tuesday, January 28th. Melius cut shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 price target on the stock. in a research report on Tuesday, January 28th. Robert W. Baird lowered their price objective on shares of Trane Technologies from $408.00 to $404.00 and set a "neutral" rating for the company in a research report on Thursday, October 31st. Hsbc Global Res downgraded shares of Trane Technologies from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. upped their target price on shares of Trane Technologies from $387.00 to $396.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $415.25.

Insider Activity at Trane Technologies

In related news, CFO Christopher J. Kuehn sold 876 shares of the company's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.42, for a total value of $313,099.92. Following the completion of the sale, the chief financial officer now directly owns 63,841 shares of the company's stock, valued at $22,818,050.22. This represents a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Mairead Magner sold 198 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total transaction of $70,806.78. Following the transaction, the senior vice president now owns 13,401 shares in the company, valued at approximately $4,792,331.61. The trade was a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,563 shares of company stock worth $4,388,966. Company insiders own 0.38% of the company's stock.

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.