Corebridge Financial Inc. Buys 103 Shares of Trane Technologies plc (NYSE:TT)

Corebridge Financial Inc. raised its position in shares of Trane Technologies plc (NYSE:TT) by 0.2% during the fourth quarter, HoldingsChannel reports. The fund owned 57,146 shares of the company’s stock after acquiring an additional 103 shares during the quarter. Corebridge Financial Inc.’s holdings in Trane Technologies were worth $21,107,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in shares of Trane Technologies during the 4th quarter worth approximately $611,322,000. FMR LLC lifted its position in shares of Trane Technologies by 4.0% during the third quarter. FMR LLC now owns 10,337,672 shares of the company’s stock worth $4,018,563,000 after purchasing an additional 397,537 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its stake in shares of Trane Technologies by 455.2% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 427,226 shares of the company’s stock valued at $167,977,000 after purchasing an additional 350,277 shares during the period. Nordea Investment Management AB grew its holdings in shares of Trane Technologies by 42.9% in the fourth quarter. Nordea Investment Management AB now owns 978,275 shares of the company’s stock worth $361,874,000 after purchasing an additional 293,916 shares during the last quarter. Finally, Proficio Capital Partners LLC increased its stake in Trane Technologies by 47,293.6% in the 4th quarter. Proficio Capital Partners LLC now owns 253,082 shares of the company’s stock worth $93,476,000 after buying an additional 252,548 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on TT. JPMorgan Chase & Co. boosted their price objective on shares of Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Royal Bank of Canada boosted their price target on Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a report on Friday, January 3rd. Melius downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective on the stock. in a report on Tuesday, January 28th. Melius Research reiterated a “hold” rating and issued a $398.00 target price on shares of Trane Technologies in a report on Tuesday, January 28th. Finally, Citigroup cut their price target on Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. One equities 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. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $413.69.

Insider Transactions at Trane Technologies

In related news, CEO David S. Regnery sold 2,754 shares of Trane Technologies stock in a transaction dated Tuesday, February 4th. The stock was 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 of the company’s stock, valued at $47,515,142.46. The trade was a 2.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Christopher J. Kuehn sold 876 shares of Trane Technologies stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.42, for a total transaction of $313,099.92. Following the sale, the chief financial officer now owns 63,841 shares of the company’s stock, valued at approximately $22,818,050.22. The trade was a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,234 shares of company stock worth $2,588,102. Insiders own 0.38% of the company’s stock.

Trane Technologies Trading Up 3.3 %

NYSE:TT opened at $358.58 on Tuesday. The stock has a market capitalization of $80.43 billion, a price-to-earnings ratio of 31.87, a PEG ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a 52 week low of $286.32 and a 52 week high of $422.00. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The firm has a 50 day moving average of $360.87 and a 200 day moving average of $380.10.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Thursday, January 30th. The company reported $2.61 EPS 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, sell-side analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s dividend payout ratio (DPR) is currently 33.42%.

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.