Catalyst Capital Advisors LLC Purchases Shares of 363 Trane Technologies plc (NYSE:TT)

Catalyst Capital Advisors LLC acquired a new stake in Trane Technologies plc (NYSE:TT) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 363 shares of the company’s stock, valued at approximately $134,000.

Several other hedge funds have also made changes to their positions in the business. Tidal Investments LLC lifted its holdings in Trane Technologies by 22.2% during the 3rd quarter. Tidal Investments LLC now owns 15,827 shares of the company’s stock worth $6,152,000 after buying an additional 2,874 shares during the last quarter. Synovus Financial Corp increased its stake in Trane Technologies by 16.8% in the 3rd quarter. Synovus Financial Corp now owns 8,828 shares of the company’s stock valued at $3,431,000 after buying an additional 1,271 shares during the period. Ameritas Advisory Services LLC purchased a new position in Trane Technologies during the fourth quarter worth about $468,000. HB Wealth Management LLC raised its stake in shares of Trane Technologies by 14.3% during the 4th quarter. HB Wealth Management LLC now owns 5,689 shares of the company’s stock worth $2,101,000 after buying an additional 711 shares in the last quarter. Finally, GDS Wealth Management boosted its position in shares of Trane Technologies by 4.3% during the 3rd quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock worth $20,123,000 after purchasing an additional 2,124 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Price Performance

Trane Technologies stock opened at $363.58 on Tuesday. The business has a 50 day simple moving average of $377.68 and a 200 day simple moving average of $379.00. 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 $270.50 and a one year high of $422.00. The company has a market capitalization of $81.81 billion, a PE ratio of 32.32, a price-to-earnings-growth ratio of 2.44 and a beta of 1.05.

Trane Technologies (NYSE:TT) last released its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, topping 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, sell-side analysts forecast that Trane Technologies plc will post 12.83 EPS for the current fiscal 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 issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Friday, March 7th. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s dividend payout ratio is 29.87%.

Analysts Set New Price Targets

TT has been the topic of a number of research reports. UBS Group lowered their price target on Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Barclays increased their price target on shares of Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Hsbc Global Res lowered shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Robert W. Baird reduced their target price on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Finally, Royal Bank of Canada increased their price objective on shares of Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a research report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Trane Technologies has a consensus rating of “Hold” and a consensus target price of $415.25.

Insiders Place Their Bets

In other news, CFO Christopher J. Kuehn sold 770 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $358.39, for a total transaction of $275,960.30. Following the sale, the chief financial officer now directly owns 62,221 shares of the company’s stock, valued at approximately $22,299,384.19. This represents a 1.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Mairead Magner sold 4,329 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total value of $1,800,864.00. Following the transaction, the senior vice president now directly owns 12,893 shares of the company’s stock, valued at approximately $5,363,488. The trade was a 25.14 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,563 shares of company stock worth $4,388,966. Corporate insiders own 0.38% of the company’s stock.

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.