WCM Investment Management LLC Grows Stock Holdings in Trane Technologies plc (NYSE:TT)

WCM Investment Management LLC raised its stake in Trane Technologies plc (NYSE:TT - Free Report) by 77.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,724 shares of the company's stock after acquiring an additional 2,490 shares during the quarter. WCM Investment Management LLC's holdings in Trane Technologies were worth $2,123,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Global Wealth Strategies & Associates acquired a new position in shares of Trane Technologies in the fourth quarter valued at approximately $26,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Trane Technologies in the third quarter valued at approximately $27,000. DT Investment Partners LLC acquired a new position in shares of Trane Technologies in the third quarter valued at approximately $36,000. Sound Income Strategies LLC increased its stake 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 valued at $37,000 after buying an additional 92 shares during the period. Finally, Pittenger & Anderson Inc. acquired a new position in shares of Trane Technologies in the third quarter valued at approximately $39,000. Institutional investors own 82.97% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on TT shares. Melius downgraded shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 target price for the company. in a research report on Tuesday, January 28th. HSBC downgraded shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $405.00 target price for the company. in a research report on Thursday, October 31st. UBS Group reduced their price objective on shares of Trane Technologies from $500.00 to $470.00 and set a "buy" rating for the company in a research report on Friday, January 31st. Citigroup reduced their price objective on shares of Trane Technologies from $478.00 to $476.00 and set a "buy" rating for the company in a research report on Monday, January 13th. Finally, Northcoast Research began coverage on shares of Trane Technologies in a research report on Friday, November 22nd. They set a "buy" rating and a $500.00 price objective for the company. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $415.25.

Insiders Place Their Bets

In other news, SVP Evan M. Turtz sold 318 shares of the firm's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $358.12, for a total transaction of $113,882.16. Following the sale, the senior vice president now owns 20,513 shares in the company, valued at approximately $7,346,115.56. This trade represents a 1.53 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Mairead Magner sold 4,329 shares of the firm's stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the sale, the senior vice president now owns 12,893 shares in the company, valued at approximately $5,363,488. This trade represents a 25.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,563 shares of company stock worth $4,388,966 in the last three months. 0.38% of the stock is currently owned by corporate insiders.

Trane Technologies Stock Performance

Shares of TT stock traded up $2.30 during trading on Friday, reaching $363.58. 1,019,591 shares of the company's stock traded hands, compared to its average volume of 1,513,643. The company has a market capitalization of $81.81 billion, a P/E ratio of 32.32, a PEG ratio of 2.44 and a beta of 1.05. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The firm's 50-day moving average is $379.41 and its 200 day moving average is $377.91. Trane Technologies plc has a 1 year low of $270.50 and a 1 year high of $422.00.

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

Trane Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Trane Technologies's previous quarterly dividend of $0.84. This represents a $3.76 annualized dividend and a yield of 1.03%. Trane Technologies's dividend payout ratio is currently 29.87%.

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.