Blair William & Co. IL Increases Position in Trane Technologies plc (NYSE:TT)

Blair William & Co. IL lifted its position in shares of Trane Technologies plc (NYSE:TT) by 7.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,102 shares of the company’s stock after purchasing an additional 1,142 shares during the period. Blair William & Co. IL’s holdings in Trane Technologies were worth $6,316,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in Trane Technologies during the fourth quarter worth approximately $611,322,000. Bank Julius Baer & Co. Ltd Zurich raised its stake in Trane Technologies by 455.2% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 427,226 shares of the company’s stock worth $167,977,000 after acquiring an additional 350,277 shares in the last quarter. Nordea Investment Management AB lifted its position in Trane Technologies by 42.9% in the fourth quarter. Nordea Investment Management AB now owns 978,275 shares of the company’s stock valued at $361,874,000 after acquiring an additional 293,916 shares during the last quarter. Caisse Des Depots ET Consignations acquired a new position in Trane Technologies in the fourth quarter valued at $98,560,000. Finally, Proficio Capital Partners LLC grew its holdings in shares of Trane Technologies by 47,293.6% during the fourth quarter. Proficio Capital Partners LLC now owns 253,082 shares of the company’s stock worth $93,476,000 after purchasing an additional 252,548 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO David S. Regnery sold 2,754 shares of Trane Technologies stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total transaction of $984,114.36. Following the completion of the transaction, the chief executive officer now directly owns 132,969 shares in the company, valued at $47,515,142.46. The trade was a 2.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Christopher J. Kuehn sold 876 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.42, for a total value of $313,099.92. Following the sale, the chief financial officer now owns 63,841 shares in the company, valued at approximately $22,818,050.22. This trade represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,234 shares of company stock worth $2,588,102 over the last 90 days. 0.38% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TT. UBS Group reduced their target price on Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a report on Friday, January 31st. 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, March 10th. 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 research report on Friday, January 3rd. Wells Fargo & Company reduced 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 report on Friday, January 31st. Finally, Citigroup dropped 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 note on Monday, January 13th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $413.69.

Trane Technologies Stock Down 4.3 %

Shares of NYSE TT opened at $331.69 on Monday. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The firm has a 50-day moving average price of $357.83 and a 200 day moving average price of $380.15. Trane Technologies plc has a 52 week low of $286.32 and a 52 week high of $422.00. The stock has a market capitalization of $74.40 billion, a price-to-earnings ratio of 29.48, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. Equities research analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a $0.94 dividend. This is a positive change 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 1.13%. Trane Technologies’s dividend payout ratio is 33.42%.

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.