Dorsey Wright & Associates Boosts Holdings in Trane Technologies plc (NYSE:TT)

Dorsey Wright & Associates increased its stake in Trane Technologies plc (NYSE:TT) by 4.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 14,776 shares of the company’s stock after purchasing an additional 565 shares during the quarter. Trane Technologies accounts for approximately 1.3% of Dorsey Wright & Associates’ holdings, making the stock its 23rd largest position. Dorsey Wright & Associates’ holdings in Trane Technologies were worth $5,458,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Townsquare Capital LLC increased its holdings in Trane Technologies by 55.6% in the 3rd quarter. Townsquare Capital LLC now owns 3,362 shares of the company’s stock worth $1,307,000 after acquiring an additional 1,201 shares in the last quarter. CreativeOne Wealth LLC increased its stake in shares of Trane Technologies by 31.7% in the third quarter. CreativeOne Wealth LLC now owns 1,810 shares of the company’s stock worth $704,000 after purchasing an additional 436 shares in the last quarter. Public Sector Pension Investment Board raised its position in shares of Trane Technologies by 14.0% during the 3rd quarter. Public Sector Pension Investment Board now owns 9,772 shares of the company’s stock valued at $3,799,000 after purchasing an additional 1,200 shares during the period. Financial Counselors Inc. lifted its stake in shares of Trane Technologies by 2.3% during the 3rd quarter. Financial Counselors Inc. now owns 2,442 shares of the company’s stock valued at $949,000 after buying an additional 56 shares in the last quarter. Finally, Captrust Financial Advisors boosted its holdings in Trane Technologies by 13.4% in the 3rd quarter. Captrust Financial Advisors now owns 15,221 shares of the company’s stock worth $5,917,000 after buying an additional 1,804 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Trane Technologies Price Performance

TT stock opened at $331.69 on Friday. The stock has a market cap of $74.40 billion, a PE ratio of 29.48, a P/E/G ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a 12 month low of $286.32 and a 12 month high of $422.00. The company has a 50-day moving average price of $357.83 and a 200 day moving average price of $379.96. 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 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 return on equity of 35.37% and a net margin of 12.94%. Equities research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current 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 paid a dividend of $0.94 per share. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies’s payout ratio is currently 33.42%.

Analyst Ratings Changes

Several equities analysts have recently commented on TT shares. Wells Fargo & Company lowered their price objective 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. Royal Bank of Canada upped their price target on Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research note on Friday, January 3rd. Citigroup reduced their price objective on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Melius Research restated a “hold” rating and set a $398.00 target price on shares of Trane Technologies in a research report on Tuesday, January 28th. Finally, Barclays reduced their price target on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. 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 company. According to MarketBeat.com, Trane Technologies presently has an average rating of “Hold” and a consensus price target of $413.69.

Insider Transactions at Trane Technologies

In related news, CFO Christopher J. Kuehn sold 770 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $358.39, for a total value of $275,960.30. Following the transaction, the chief financial officer now owns 62,221 shares of the company’s stock, valued at $22,299,384.19. This represents a 1.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Evan M. Turtz sold 318 shares of Trane Technologies stock in a transaction on Monday, February 10th. The shares were 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 approximately $7,346,115.56. This trade represents a 1.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,234 shares of company stock worth $2,588,102. Insiders own 0.38% of the company’s stock.

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.