Horizon Investments LLC Increases Stock Holdings in Trane Technologies plc (NYSE:TT)

Horizon Investments LLC grew its holdings in shares of Trane Technologies plc (NYSE:TT) by 61.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 9,221 shares of the company’s stock after purchasing an additional 3,520 shares during the quarter. Horizon Investments LLC’s holdings in Trane Technologies were worth $3,406,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in TT. Axxcess Wealth Management LLC increased its holdings in Trane Technologies by 176.3% during the fourth quarter. Axxcess Wealth Management LLC now owns 1,445 shares of the company’s stock valued at $534,000 after buying an additional 922 shares during the last quarter. Flagship Wealth Advisors LLC bought a new position in Trane Technologies in the 4th quarter worth $37,000. Terra Alpha Investments LLC purchased a new position in Trane Technologies during the fourth quarter valued at $4,393,000. Parallel Advisors LLC grew its holdings in Trane Technologies by 5.8% during the fourth quarter. Parallel Advisors LLC now owns 2,918 shares of the company’s stock valued at $1,078,000 after purchasing an additional 161 shares during the period. Finally, Cibc World Markets Corp increased its position in Trane Technologies by 15.8% in the fourth quarter. Cibc World Markets Corp now owns 35,515 shares of the company’s stock worth $13,117,000 after buying an additional 4,844 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Trading Down 1.9 %

Shares of TT opened at $344.27 on Wednesday. The stock has a market capitalization of $77.22 billion, a PE ratio of 30.60, a P/E/G ratio of 2.50 and a beta of 1.08. The company’s fifty day moving average is $363.30 and its 200 day moving average is $380.04. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. Trane Technologies plc has a fifty-two week low of $286.32 and a fifty-two week high of $422.00.

Trane Technologies (NYSE:TT) last announced its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, beating 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 earnings per share 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. Stockholders of record on Friday, March 7th will be issued a $0.94 dividend. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.09%. Trane Technologies’s payout ratio is 33.42%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TT. JPMorgan Chase & Co. boosted their price objective on Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Melius lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price target for the company. in a research report on Tuesday, January 28th. UBS Group decreased their price objective on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. 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. Finally, Northcoast Research initiated coverage on Trane Technologies in a report on Friday, November 22nd. They set a “buy” rating and a $500.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $413.69.

Insider Activity

In related news, SVP Mairead Magner sold 198 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total transaction of $70,806.78. Following the completion of the sale, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Christopher J. Kuehn sold 770 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $358.39, for a total value of $275,960.30. Following the completion of the transaction, the chief financial officer now directly owns 62,221 shares in the company, valued at $22,299,384.19. This trade represents a 1.22 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,234 shares of company stock valued at $2,588,102. 0.38% of the stock is currently owned by insiders.

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.