Johnson Investment Counsel Inc. Increases Stock Holdings in Trane Technologies plc (NYSE:TT)

Johnson Investment Counsel Inc. increased its stake in Trane Technologies plc (NYSE:TT) by 14.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 1,287 shares of the company’s stock after acquiring an additional 165 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Trane Technologies were worth $475,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of TT. Global Wealth Strategies & Associates acquired a new position in Trane Technologies in the 4th quarter valued at about $26,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Trane Technologies during the 3rd quarter worth about $27,000. Sound Income Strategies LLC raised its holdings in Trane Technologies by 1,314.3% in the 4th 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. Golden State Wealth Management LLC acquired a new position in Trane Technologies in the fourth quarter valued at about $39,000. Finally, Legacy Investment Solutions LLC purchased a new position in Trane Technologies during the third quarter worth about $44,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Price Performance

TT stock opened at $338.29 on Friday. The business has a 50 day simple moving average of $365.31 and a 200-day simple moving average of $379.82. The company has a market capitalization of $75.87 billion, a P/E ratio of 30.07, a PEG ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a twelve month low of $286.32 and a twelve month high of $422.00. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) 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%. As a group, equities analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a dividend of $0.94 per share. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date is Friday, March 7th. This represents a $3.76 annualized dividend and a yield of 1.11%. Trane Technologies’s payout ratio is presently 33.42%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on TT shares. Citigroup reduced their price target on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Barclays decreased their target price on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a research note on Monday. JPMorgan Chase & Co. raised their price objective on shares of Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Royal Bank of Canada lifted their price objective on shares of Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a report on Friday, January 3rd. Finally, UBS Group decreased their price target 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. 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 company. According to MarketBeat.com, Trane Technologies has a consensus rating of “Hold” and an average price target of $413.69.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, SVP Evan M. Turtz sold 318 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $358.12, for a total value of $113,882.16. Following the sale, the senior vice president now owns 20,513 shares of the company’s stock, valued at approximately $7,346,115.56. This represents a 1.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction, the chief financial officer now owns 62,221 shares of the company’s stock, valued at approximately $22,299,384.19. The trade was a 1.22 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,234 shares of company stock valued at $2,588,102. 0.38% of the stock is owned by company insiders.

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.