Zacks Investment Management Purchases 1,470 Shares of Trane Technologies plc (NYSE:TT)

Zacks Investment Management boosted its position in Trane Technologies plc (NYSE:TT - Free Report) by 2.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,324 shares of the company's stock after purchasing an additional 1,470 shares during the period. Zacks Investment Management's holdings in Trane Technologies were worth $20,065,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. NewEdge Advisors LLC grew its position in shares of Trane Technologies by 4.3% in the 4th quarter. NewEdge Advisors LLC now owns 16,323 shares of the company's stock valued at $6,029,000 after buying an additional 666 shares during the last quarter. Gamco Investors INC. ET AL boosted its position in shares of Trane Technologies by 61.6% during the 4th quarter. Gamco Investors INC. ET AL now owns 11,817 shares of the company's stock valued at $4,365,000 after purchasing an additional 4,503 shares in the last quarter. Keeley Teton Advisors LLC grew its holdings in Trane Technologies by 7.4% in the fourth quarter. Keeley Teton Advisors LLC now owns 3,174 shares of the company's stock worth $1,172,000 after purchasing an additional 218 shares during the period. Jump Financial LLC increased its holdings in shares of Trane Technologies by 3.2% during the fourth quarter. Jump Financial LLC now owns 57,494 shares of the company's stock valued at $21,235,000 after acquiring an additional 1,773 shares in the last quarter. Finally, Bridgewater Associates LP grew its holdings in shares of Trane Technologies by 42.2% during the fourth quarter. Bridgewater Associates LP now owns 1,351 shares of the company's stock valued at $499,000 after buying an additional 401 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TT has been the subject of several research reports. Royal Bank of Canada increased their price objective on Trane Technologies from $390.00 to $395.00 and gave the company a "sector perform" rating in a report on Friday, January 3rd. UBS Group cut their target price 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. Wells Fargo & Company dropped their price target on shares of Trane Technologies from $380.00 to $360.00 and set an "underweight" rating on the stock in a research note on Friday, January 31st. Citigroup dropped their target price on Trane Technologies from $476.00 to $415.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, JPMorgan Chase & Co. dropped their price objective on Trane Technologies from $396.00 to $323.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $405.31.

Insiders Place Their Bets

In other Trane Technologies news, 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 approximately $4,792,331.61. This trade represents a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Christopher J. Kuehn sold 770 shares of the business's 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 completion of the sale, the chief financial officer now directly 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,234 shares of company stock worth $2,588,102. 0.38% of the stock is owned by corporate insiders.

Trane Technologies Price Performance

NYSE TT traded up $7.90 during trading hours on Tuesday, reaching $330.27. 253,364 shares of the stock traded hands, compared to its average volume of 1,300,160. The company has a market cap of $74.08 billion, a price-to-earnings ratio of 29.36, a price-to-earnings-growth 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 1 year low of $288.95 and a 1 year high of $422.00. The stock has a 50 day simple moving average of $344.19 and a two-hundred day simple moving average of $374.20.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings results 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 predict that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently announced 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. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend is Friday, June 6th. Trane Technologies's payout ratio is presently 33.42%.

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.