Van ECK Associates Corp Buys 2,438 Shares of Trane Technologies plc (NYSE:TT)

Van ECK Associates Corp raised its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 4.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,058 shares of the company's stock after purchasing an additional 2,438 shares during the period. Van ECK Associates Corp's holdings in Trane Technologies were worth $19,228,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Creative Planning raised its holdings in Trane Technologies by 5.8% during the third quarter. Creative Planning now owns 62,756 shares of the company's stock valued at $24,395,000 after buying an additional 3,446 shares in the last quarter. Swedbank AB raised its stake in shares of Trane Technologies by 2.8% in the 3rd quarter. Swedbank AB now owns 743,794 shares of the company's stock valued at $289,135,000 after acquiring an additional 20,400 shares in the last quarter. SeaCrest Wealth Management LLC lifted its holdings in Trane Technologies by 3.6% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 1,394 shares of the company's stock worth $542,000 after purchasing an additional 48 shares during the last quarter. SPC Financial Inc. boosted its position in Trane Technologies by 7.4% during the third quarter. SPC Financial Inc. now owns 1,314 shares of the company's stock worth $511,000 after purchasing an additional 91 shares during the period. Finally, Global Retirement Partners LLC raised its position in shares of Trane Technologies by 37.5% in the third quarter. Global Retirement Partners LLC now owns 1,723 shares of the company's stock valued at $670,000 after purchasing an additional 470 shares during the period. Institutional investors own 82.97% of the company's stock.

Trane Technologies Trading Down 0.0 %

NYSE TT traded down $0.16 during trading hours 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 stock has a fifty day moving average of $377.68 and a 200 day moving average of $379.00. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. Trane Technologies plc has a twelve month low of $270.50 and a twelve month high of $422.00. The firm has a market capitalization of $81.71 billion, a P/E ratio of 32.24, a PEG 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 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors 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 dividend yield of 1.04%. 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 (DPR) is currently 29.87%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TT. Royal Bank of Canada raised their target price on shares of Trane Technologies from $390.00 to $395.00 and gave the company a "sector perform" rating in a research note on Friday, January 3rd. Melius downgraded 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. UBS Group cut their price objective on Trane Technologies from $500.00 to $470.00 and set a "buy" rating for the company in a research report on Friday, January 31st. Northcoast Research began coverage on Trane Technologies in a report on Friday, November 22nd. They set a "buy" rating and a $500.00 price target for the company. Finally, HSBC downgraded shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $405.00 price objective on the stock. in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $415.25.

Insider Buying and Selling

In related news, CEO David S. Regnery sold 2,754 shares of Trane Technologies stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total value of $984,114.36. Following the sale, the chief executive officer now owns 132,969 shares of the company's stock, valued at approximately $47,515,142.46. This trade represents a 2.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Mairead Magner sold 198 shares of the company's stock in a transaction that occurred on 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 directly owns 13,401 shares of the company's stock, valued at approximately $4,792,331.61. This trade represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,563 shares of company stock valued at $4,388,966 in the last 90 days. 0.38% of the stock is owned by insiders.

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.