Argus Investors Counsel Inc. Has $3.54 Million Position in Trane Technologies plc (NYSE:TT)

Argus Investors Counsel Inc. lowered its stake in shares of Trane Technologies plc (NYSE:TT) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,581 shares of the company’s stock after selling 188 shares during the period. Trane Technologies makes up 2.4% of Argus Investors Counsel Inc.’s portfolio, making the stock its 9th biggest position. Argus Investors Counsel Inc.’s holdings in Trane Technologies were worth $3,539,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of TT. Caitlin John LLC grew its stake in shares of Trane Technologies by 2.9% during the 4th quarter. Caitlin John LLC now owns 4,676 shares of the company’s stock worth $1,727,000 after acquiring an additional 132 shares in the last quarter. Confluence Wealth Services Inc. grew its position in Trane Technologies by 8.9% in the fourth quarter. Confluence Wealth Services Inc. now owns 3,989 shares of the company’s stock valued at $1,597,000 after purchasing an additional 326 shares in the last quarter. Massachusetts Wealth Management lifted its position in Trane Technologies by 2.0% during the 4th quarter. Massachusetts Wealth Management now owns 6,390 shares of the company’s stock worth $2,360,000 after buying an additional 125 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Trane Technologies by 37.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 33,417 shares of the company’s stock valued at $12,448,000 after acquiring an additional 9,093 shares in the last quarter. Finally, Stratos Wealth Partners LTD. increased its position in shares of Trane Technologies by 0.5% in the fourth quarter. Stratos Wealth Partners LTD. now owns 5,538 shares of the company’s stock valued at $2,046,000 after acquiring an additional 29 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TT has been the topic of several recent analyst reports. Melius Research reaffirmed a “hold” rating and set a $398.00 price target on shares of Trane Technologies in a research report on Tuesday, January 28th. Citigroup lowered their target price on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Barclays lifted their price objective on shares of Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Royal Bank of Canada lifted their price target on Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a report on Friday, January 3rd. Finally, The Goldman Sachs Group boosted their price objective on Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $415.25.

Insider Activity at Trane Technologies

In other news, SVP Mairead Magner sold 4,329 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the sale, the senior vice president now directly owns 12,893 shares in the company, valued at approximately $5,363,488. The trade was a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.38% of the stock is currently owned by insiders.

Trane Technologies Stock Performance

NYSE TT opened at $357.47 on Thursday. The firm’s 50 day simple moving average is $386.03 and its 200 day simple moving average is $377.10. The firm has a market capitalization of $80.44 billion, a price-to-earnings ratio of 31.78, a P/E/G ratio of 2.18 and a beta of 1.05. 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 plc has a 1 year low of $265.37 and a 1 year high of $422.00.

Trane Technologies (NYSE:TT) last issued its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, beating 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, research analysts expect that Trane Technologies plc will post 12.79 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be paid a $0.94 dividend. This is an increase 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 1.05%. Trane Technologies’s dividend payout ratio (DPR) is presently 29.87%.

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.