Fortress Financial Group LLC Acquires New Stake in Trane Technologies plc (NYSE:TT)

Fortress Financial Group LLC bought a new stake in Trane Technologies plc (NYSE:TT) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 564 shares of the company’s stock, valued at approximately $208,000.

A number of other institutional investors have also recently made changes to their positions in the company. Global Wealth Strategies & Associates purchased a new stake in shares of Trane Technologies in the 4th quarter valued at about $26,000. MidAtlantic Capital Management Inc. purchased a new position in Trane Technologies in the 3rd quarter worth approximately $27,000. Sound Income Strategies LLC lifted its holdings in shares of Trane Technologies by 1,314.3% during the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock worth $37,000 after acquiring an additional 92 shares during the last quarter. Pittenger & Anderson Inc. purchased a new position in Trane Technologies in the third quarter worth $39,000. Finally, Golden State Wealth Management LLC bought a new position in Trane Technologies in the fourth quarter valued at $39,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Price Performance

Shares of NYSE TT opened at $344.64 on Friday. The company has a 50 day moving average of $371.72 and a 200 day moving average of $380.02. 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 $279.00 and a twelve month high of $422.00. The firm has a market cap of $77.30 billion, a P/E ratio of 30.63, a PEG ratio of 2.50 and a beta of 1.05.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Thursday, January 30th. The company reported $2.61 EPS for the quarter, beating 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%. As a group, research 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. Investors of record on Friday, March 7th will be issued a $0.94 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.76 annualized dividend and a yield of 1.09%. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s dividend payout ratio (DPR) is currently 29.87%.

Insider Buying and Selling

In related news, SVP Mairead Magner sold 198 shares of the firm’s stock in a transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David S. Regnery sold 2,754 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total value of $984,114.36. Following the sale, the chief executive officer now directly owns 132,969 shares of the company’s stock, valued at $47,515,142.46. This represents a 2.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,563 shares of company stock valued at $4,388,966 over the last 90 days. Company insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TT. Northcoast Research assumed coverage on Trane Technologies in a report on Friday, November 22nd. They set a “buy” rating and a $500.00 price objective on the stock. Barclays increased their target price on shares of Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. JPMorgan Chase & Co. raised their price target on Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Wells Fargo & Company decreased their price target on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a research note on Friday, January 31st. Finally, Melius lowered 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. One research 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 data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $415.25.

About Trane Technologies

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.