Strategy Asset Managers LLC Acquires 85 Shares of Trane Technologies plc (NYSE:TT)

Strategy Asset Managers LLC raised its stake in Trane Technologies plc (NYSE:TT) by 3.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,616 shares of the company’s stock after buying an additional 85 shares during the quarter. Strategy Asset Managers LLC’s holdings in Trane Technologies were worth $966,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in TT. Allianz SE bought a new position in Trane Technologies during the 4th quarter worth about $13,493,000. Allstate Corp bought a new position in shares of Trane Technologies during the fourth quarter worth about $2,438,000. DnB Asset Management AS lifted its stake in Trane Technologies by 2.3% in the 4th quarter. DnB Asset Management AS now owns 58,966 shares of the company’s stock valued at $21,779,000 after acquiring an additional 1,305 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its position in Trane Technologies by 2.7% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 68,336 shares of the company’s stock worth $25,240,000 after acquiring an additional 1,825 shares during the last quarter. Finally, New Age Alpha Advisors LLC bought a new position in shares of Trane Technologies during the 4th quarter worth approximately $74,000. Institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on TT shares. UBS Group cut their price objective on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Barclays reduced their price objective on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. JPMorgan Chase & Co. lifted their target price on Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Melius cut Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price target for the company. in a research report on Tuesday, January 28th. Finally, Melius Research reaffirmed a “hold” rating and set a $398.00 price target on shares of Trane Technologies in a research report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Trane Technologies presently has an average rating of “Hold” and an average price target of $413.69.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $331.69 on Friday. The firm has a 50 day simple moving average of $357.83 and a 200 day simple moving average of $379.73. The company has a market cap of $74.40 billion, a price-to-earnings ratio of 29.48, a PEG ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a one year low of $286.32 and a one 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 issued its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, topping analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. Research analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current fiscal 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 issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.13%. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date is Friday, March 7th. Trane Technologies’s payout ratio is presently 33.42%.

Insider Buying and Selling at Trane Technologies

In related news, CFO Christopher J. Kuehn sold 876 shares of Trane Technologies stock in a transaction 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 completion of the transaction, the chief financial officer now owns 63,841 shares of the company’s stock, valued at $22,818,050.22. This trade represents a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $984,114.36. Following the completion of the transaction, the chief executive officer now directly owns 132,969 shares of the company’s stock, valued at approximately $47,515,142.46. This trade represents a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,234 shares of company stock worth $2,588,102. 0.38% of the stock is currently owned by company insiders.

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.