Trane Technologies plc (NYSE:TT) Holdings Increased by Balboa Wealth Partners

Balboa Wealth Partners increased its stake in Trane Technologies plc (NYSE:TT) by 18.7% in the 4th quarter, HoldingsChannel reports. The fund owned 1,098 shares of the company’s stock after acquiring an additional 173 shares during the period. Balboa Wealth Partners’ holdings in Trane Technologies were worth $406,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Raymond James Financial Inc. bought a new position in Trane Technologies during the fourth quarter valued at about $611,322,000. Massachusetts Financial Services Co. MA lifted its holdings in Trane Technologies by 35.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock valued at $991,460,000 after acquiring an additional 671,691 shares during the last quarter. FMR LLC boosted its position in shares of Trane Technologies by 4.0% during the 3rd quarter. FMR LLC now owns 10,337,672 shares of the company’s stock valued at $4,018,563,000 after purchasing an additional 397,537 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of Trane Technologies by 455.2% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 427,226 shares of the company’s stock worth $167,977,000 after purchasing an additional 350,277 shares during the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of Trane Technologies by 42.9% in the 4th quarter. Nordea Investment Management AB now owns 978,275 shares of the company’s stock worth $361,874,000 after purchasing an additional 293,916 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $338.29 on Friday. The firm has a market cap of $75.87 billion, a price-to-earnings ratio of 30.07, a P/E/G ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a 1 year low of $286.32 and a 1 year 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. The business has a fifty day simple moving average of $365.31 and a 200 day simple moving average of $379.82.

Trane Technologies (NYSE:TT) last posted its quarterly 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%. As a group, sell-side analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current fiscal 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 paid a $0.94 dividend. 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. This represents a $3.76 dividend on an annualized basis and a yield of 1.11%. Trane Technologies’s payout ratio is 33.42%.

Analyst Ratings Changes

TT has been the subject of a number of research reports. Royal Bank of Canada raised their target price on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a report on Friday, January 3rd. Barclays reduced their price objective on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a research note on Monday. JPMorgan Chase & Co. boosted their target price on Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Wells Fargo & Company decreased their price target on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a research report on Friday, January 31st. Finally, 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. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $413.69.

Insiders Place Their Bets

In related news, CEO David S. Regnery sold 2,754 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total value of $984,114.36. Following the completion of the sale, the chief executive officer now directly owns 132,969 shares in the company, valued at approximately $47,515,142.46. The trade was a 2.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Evan M. Turtz sold 318 shares of the company’s stock in a transaction that occurred 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 directly owns 20,513 shares of the company’s stock, valued at $7,346,115.56. The trade was a 1.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,234 shares of company stock valued at $2,588,102 over the last ninety days. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Company 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.