Groupama Asset Managment Increases Stock Holdings in Trane Technologies plc (NYSE:TT)

Groupama Asset Managment raised its holdings in Trane Technologies plc (NYSE:TT) by 307.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,829 shares of the company’s stock after buying an additional 6,664 shares during the quarter. Groupama Asset Managment’s holdings in Trane Technologies were worth $3,274,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Tidal Investments LLC grew its holdings in shares of Trane Technologies by 22.2% during the third quarter. Tidal Investments LLC now owns 15,827 shares of the company’s stock valued at $6,152,000 after buying an additional 2,874 shares during the last quarter. Synovus Financial Corp grew its stake in Trane Technologies by 16.8% during the 3rd quarter. Synovus Financial Corp now owns 8,828 shares of the company’s stock valued at $3,431,000 after purchasing an additional 1,271 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of Trane Technologies in the fourth quarter valued at about $468,000. HB Wealth Management LLC raised its stake in shares of Trane Technologies by 14.3% in the fourth quarter. HB Wealth Management LLC now owns 5,689 shares of the company’s stock worth $2,101,000 after purchasing an additional 711 shares during the last quarter. Finally, Crossmark Global Holdings Inc. lifted its holdings in shares of Trane Technologies by 31.2% during the fourth quarter. Crossmark Global Holdings Inc. now owns 29,057 shares of the company’s stock worth $10,733,000 after purchasing an additional 6,910 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Trading Up 1.5 %

Shares of TT stock opened at $341.89 on Wednesday. The stock has a 50 day simple moving average of $355.69 and a 200-day simple moving average of $379.83. Trane Technologies plc has a 1-year low of $286.32 and a 1-year high of $422.00. The company has a market cap of $76.68 billion, a price-to-earnings ratio of 30.39, a PEG ratio of 2.50 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data 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 net margin of 12.94% and a return on equity of 35.37%. On average, equities research analysts expect that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 7th were paid a $0.94 dividend. The ex-dividend date of this dividend was Friday, March 7th. 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 yield of 1.10%. Trane Technologies’s dividend payout ratio (DPR) is currently 33.42%.

Insider Buying and Selling

In other news, CFO Christopher J. Kuehn sold 876 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.42, for a total value of $313,099.92. Following the transaction, the chief financial officer now directly owns 63,841 shares of the company’s stock, valued at approximately $22,818,050.22. This trade represents a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO David S. Regnery sold 2,754 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total transaction of $984,114.36. Following the sale, the chief executive officer now directly owns 132,969 shares of the company’s stock, valued at approximately $47,515,142.46. This represents a 2.03 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,234 shares of company stock worth $2,588,102. Insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Barclays cut 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. Royal Bank of Canada increased their price objective on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research note on Friday, January 3rd. Melius downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price for the company. in a research report on Tuesday, January 28th. Citigroup cut their price target on Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Finally, Wells Fargo & Company decreased their price objective on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Trane Technologies currently has an average rating of “Hold” and a consensus target price of $413.69.

Trane Technologies 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.