Peregrine Asset Advisers Inc. Has $319,000 Stock Holdings in Trane Technologies plc (NYSE:TT)

Peregrine Asset Advisers Inc. lifted its position in shares of Trane Technologies plc (NYSE:TT) by 13.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 865 shares of the company’s stock after purchasing an additional 100 shares during the quarter. Peregrine Asset Advisers Inc.’s holdings in Trane Technologies were worth $319,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in TT. Swedbank AB grew its stake in Trane Technologies by 2.8% in the third quarter. Swedbank AB now owns 743,794 shares of the company’s stock valued at $289,135,000 after acquiring an additional 20,400 shares during the period. Foundations Investment Advisors LLC raised its holdings in Trane Technologies by 93.6% during the 3rd quarter. Foundations Investment Advisors LLC now owns 1,462 shares of the company’s stock worth $568,000 after buying an additional 707 shares during the period. Sequoia Financial Advisors LLC raised its holdings in Trane Technologies by 5.2% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,023 shares of the company’s stock worth $1,953,000 after buying an additional 250 shares during the period. Eastern Bank bought a new position in Trane Technologies in the third quarter valued at approximately $250,000. Finally, Private Advisor Group LLC boosted its holdings in shares of Trane Technologies by 13.9% in the third quarter. Private Advisor Group LLC now owns 8,553 shares of the company’s stock valued at $3,325,000 after buying an additional 1,043 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on TT. Northcoast Research started coverage on shares of Trane Technologies in a research report on Friday, November 22nd. They issued a “buy” rating and a $500.00 price objective on the stock. UBS Group cut their price target on Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Citigroup decreased their price objective on Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a report on Monday, January 13th. Royal Bank of Canada lifted their target price on Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a research report on Friday, January 3rd. Finally, Robert W. Baird reduced their price target on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $415.25.

Trane Technologies Stock Performance

NYSE TT opened at $354.56 on Friday. The firm has a market capitalization of $79.52 billion, a P/E ratio of 31.52, a price-to-earnings-growth ratio of 2.53 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. The firm’s fifty day moving average price is $374.82 and its two-hundred day moving average price is $379.44. Trane Technologies plc has a 1 year low of $279.00 and a 1 year high of $422.00.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, topping 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%. As a group, research analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.06%. 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. Trane Technologies’s dividend payout ratio (DPR) is presently 29.87%.

Insider Transactions at Trane Technologies

In other news, CEO David S. Regnery sold 2,754 shares of the firm’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 completion of the sale, the chief executive officer now owns 132,969 shares in the company, valued at approximately $47,515,142.46. This trade represents a 2.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Mairead Magner sold 4,329 shares of Trane Technologies 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 of the company’s stock, valued at $5,363,488. The trade was a 25.14 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 11,563 shares of company stock worth $4,388,966. 0.38% of the stock is owned by company insiders.

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.