TKG Advisors LLC Boosts Stock Position in Trane Technologies plc (NYSE:TT)

TKG Advisors LLC raised its holdings in shares of Trane Technologies plc (NYSE:TT) by 5.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,703 shares of the company’s stock after acquiring an additional 685 shares during the quarter. Trane Technologies makes up 2.6% of TKG Advisors LLC’s investment portfolio, making the stock its 12th biggest holding. TKG Advisors LLC’s holdings in Trane Technologies were worth $5,493,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Tidal Investments LLC lifted its position in Trane Technologies by 22.2% in the third quarter. Tidal Investments LLC now owns 15,827 shares of the company’s stock valued at $6,152,000 after acquiring an additional 2,874 shares during the last quarter. Synovus Financial Corp lifted its holdings in shares of 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 purchasing an additional 1,271 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Trane Technologies in the 4th quarter valued at about $468,000. HB Wealth Management LLC grew its stake in 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 during the last quarter. Finally, GDS Wealth Management lifted its stake in Trane Technologies by 4.3% in the third quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock valued at $20,123,000 after buying an additional 2,124 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were 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 in the company, valued at approximately $5,363,488. This represents a 25.14 % decrease in their position. The transaction 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 Trane Technologies stock in a transaction dated 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 owns 62,221 shares of the company’s stock, valued at approximately $22,299,384.19. This trade represents a 1.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,563 shares of company stock worth $4,388,966. 0.38% of the stock is owned by insiders.

Analysts Set New Price Targets

TT has been the topic of a number of recent research reports. Melius Research reaffirmed a “hold” rating and issued a $398.00 target price on shares of Trane Technologies in a report on Tuesday, January 28th. Robert W. Baird decreased their target price on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Wells Fargo & Company dropped their price target on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a research report on Friday, January 31st. Citigroup decreased their price objective on 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 Trane Technologies in a report on Friday, November 22nd. They issued a “buy” rating and a $500.00 target price on the stock. 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 company. According to data from MarketBeat, Trane Technologies currently has a consensus rating of “Hold” and an average target price of $415.25.

Trane Technologies Stock Performance

NYSE TT opened at $362.54 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. The company has a market capitalization of $81.31 billion, a P/E ratio of 32.23, a PEG ratio of 2.48 and a beta of 1.05. Trane Technologies plc has a 1-year low of $270.50 and a 1-year high of $422.00. The business has a 50 day moving average price of $376.98 and a 200 day moving average price of $379.31.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Thursday, January 30th. The company reported $2.61 EPS for the quarter, topping the consensus estimate of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. Sell-side analysts expect that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.04%. 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. Trane Technologies’s dividend payout ratio is 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.