World Equity Group Inc. Grows Stock Position in Trane Technologies plc (NYSE:TT)

World Equity Group Inc. raised its holdings in Trane Technologies plc (NYSE:TT) by 116.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,280 shares of the company’s stock after buying an additional 688 shares during the quarter. World Equity Group Inc.’s holdings in Trane Technologies were worth $473,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. MONECO Advisors LLC increased its holdings in shares of Trane Technologies by 18.9% in the fourth quarter. MONECO Advisors LLC now owns 975 shares of the company’s stock valued at $360,000 after purchasing an additional 155 shares during the period. Howard Capital Management Inc. acquired a new position in shares of Trane Technologies in the fourth quarter valued at about $527,000. TCW Group Inc. increased its holdings in shares of Trane Technologies by 64.4% in the fourth quarter. TCW Group Inc. now owns 65,629 shares of the company’s stock valued at $24,240,000 after purchasing an additional 25,711 shares during the period. First Horizon Advisors Inc. increased its holdings in shares of Trane Technologies by 2.5% in the fourth quarter. First Horizon Advisors Inc. now owns 4,064 shares of the company’s stock valued at $1,501,000 after purchasing an additional 101 shares during the period. Finally, Olympiad Research LP acquired a new stake in Trane Technologies during the fourth quarter worth about $221,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Stock Performance

NYSE TT opened at $354.56 on Monday. The company has a market cap of $79.52 billion, a PE ratio of 31.52, a price-to-earnings-growth ratio of 2.50 and a beta of 1.05. The stock’s 50 day simple moving average is $374.82 and its 200-day simple moving average is $380.23. Trane Technologies plc has a 1-year low of $279.00 and a 1-year high of $422.00. 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 released its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, beating the consensus estimate 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, equities research analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

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

Wall Street Analyst Weigh In

Several analysts recently commented on TT shares. Wells Fargo & Company dropped their target price on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. HSBC lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price on the stock. in a report on Thursday, October 31st. Hsbc Global Res lowered Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Barclays raised their target price on Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Finally, Melius lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price on the stock. in a report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Trane Technologies has an average rating of “Hold” and a consensus target price of $415.25.

Insider Buying and Selling

In related news, SVP Mairead Magner sold 4,329 shares of Trane Technologies stock in a transaction that occurred on 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 transaction, the senior vice president now owns 12,893 shares in the company, valued at approximately $5,363,488. This trade represents a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 value of $984,114.36. Following the transaction, the chief executive officer now owns 132,969 shares in the company, valued at approximately $47,515,142.46. The trade was a 2.03 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,563 shares of company stock worth $4,388,966. 0.38% of the stock is owned by corporate 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.