Trane Technologies plc (NYSE:TT) Shares Bought by Global Retirement Partners LLC

Global Retirement Partners LLC grew its holdings in shares of Trane Technologies plc (NYSE:TT) by 7.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,856 shares of the company’s stock after purchasing an additional 133 shares during the period. Global Retirement Partners LLC’s holdings in Trane Technologies were worth $686,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. FMR LLC boosted its holdings in Trane Technologies by 4.0% in the third quarter. FMR LLC now owns 10,337,672 shares of the company’s stock valued at $4,018,563,000 after purchasing an additional 397,537 shares during the period. State Street Corp boosted its stake in shares of Trane Technologies by 0.8% in the 3rd quarter. State Street Corp now owns 9,769,161 shares of the company’s stock valued at $3,797,565,000 after buying an additional 77,830 shares during the period. Geode Capital Management LLC grew its position in shares of Trane Technologies by 1.4% during the third quarter. Geode Capital Management LLC now owns 4,638,914 shares of the company’s stock worth $1,797,700,000 after buying an additional 65,991 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Trane Technologies by 35.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock worth $991,460,000 after buying an additional 671,691 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Trane Technologies by 0.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,142,081 shares of the company’s stock valued at $832,691,000 after acquiring an additional 20,151 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Transactions at Trane Technologies

In other news, CEO David S. Regnery sold 2,754 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total transaction of $984,114.36. Following the transaction, the chief executive officer now directly owns 132,969 shares of the company’s stock, valued at $47,515,142.46. This represents a 2.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Mairead Magner sold 198 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total transaction of $70,806.78. Following the completion of the sale, the senior vice president now owns 13,401 shares of the company’s stock, valued at $4,792,331.61. This trade represents a 1.46 % 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 valued at $4,388,966. Corporate insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on TT shares. Royal Bank of Canada boosted their price target on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a report on Friday, January 3rd. HSBC downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price for the company. in a research note on Thursday, October 31st. Wells Fargo & Company cut their price target on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a research note on Friday, January 31st. UBS Group dropped their price objective on Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Finally, Melius downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price target for the company. in a report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $415.25.

Trane Technologies Trading Down 3.3 %

NYSE:TT opened at $354.56 on Friday. Trane Technologies plc has a 12-month low of $279.00 and a 12-month high of $422.00. 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 stock’s 50 day simple moving average is $374.82 and its 200-day simple moving average is $379.83. The firm has a market cap of $79.52 billion, a P/E ratio of 31.52, a PEG ratio of 2.50 and a beta of 1.05.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Thursday, January 30th. The company reported $2.61 EPS 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%. Equities analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a dividend of $0.94 per share. 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. This represents a $3.76 annualized dividend and a yield of 1.06%. Trane Technologies’s payout ratio is presently 29.87%.

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.