Assetmark Inc. Purchases 658 Shares of Trane Technologies plc (NYSE:TT)

Assetmark Inc. increased its holdings in Trane Technologies plc (NYSE:TT) by 3.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,459 shares of the company’s stock after acquiring an additional 658 shares during the period. Assetmark Inc.’s holdings in Trane Technologies were worth $7,187,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Swedbank AB raised its position in Trane Technologies by 2.8% in the third quarter. Swedbank AB now owns 743,794 shares of the company’s stock worth $289,135,000 after acquiring an additional 20,400 shares during the period. Graypoint LLC lifted its stake in Trane Technologies by 5.6% in the third quarter. Graypoint LLC now owns 4,211 shares of the company’s stock valued at $1,637,000 after purchasing an additional 225 shares during the last quarter. Consolidated Planning Corp grew its holdings in Trane Technologies by 21.0% during the third quarter. Consolidated Planning Corp now owns 13,161 shares of the company’s stock valued at $5,116,000 after purchasing an additional 2,281 shares during the period. Summit Global Investments purchased a new stake in Trane Technologies in the third quarter worth $1,373,000. Finally, Palmer Knight Co raised its stake in shares of Trane Technologies by 0.5% in the third quarter. Palmer Knight Co now owns 14,745 shares of the company’s stock valued at $5,732,000 after buying an additional 73 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TT. Barclays boosted their price objective on Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Melius cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price target on the stock. in a research note on Tuesday, January 28th. Melius Research reaffirmed a “hold” rating and issued a $398.00 price objective on shares of Trane Technologies in a report on Tuesday, January 28th. JPMorgan Chase & Co. increased their target price on Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Finally, Citigroup reduced their price target on Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a research report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $415.25.

Trane Technologies Stock Up 0.9 %

Shares of NYSE TT opened at $344.81 on Friday. The business has a 50-day moving average of $367.96 and a 200-day moving average of $380.18. The firm has a market capitalization of $77.34 billion, a price-to-earnings ratio of 30.65, a PEG ratio of 2.50 and a beta of 1.08. 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 12 month low of $279.00 and a 12 month high of $422.00.

Trane Technologies (NYSE:TT) last released its quarterly earnings results 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%. Sell-side analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be issued a $0.94 dividend. This is a boost 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 1.09%. The ex-dividend date is Friday, March 7th. Trane Technologies’s dividend payout ratio is presently 29.87%.

Insider Buying and Selling

In other Trane Technologies news, SVP Evan M. Turtz sold 318 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $358.12, for a total value of $113,882.16. Following the completion of the sale, the senior vice president now directly owns 20,513 shares of the company’s stock, valued at $7,346,115.56. The trade was a 1.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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 value of $70,806.78. Following the transaction, the senior vice president now directly owns 13,401 shares in the company, valued at $4,792,331.61. This trade represents a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,234 shares of company stock worth $2,588,102 in the last quarter. 0.38% of the stock is owned by insiders.

Trane Technologies Company 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.