HighPoint Advisor Group LLC Has $4.08 Million Stock Position in Trane Technologies plc (NYSE:TT)

HighPoint Advisor Group LLC lifted its holdings in Trane Technologies plc (NYSE:TT) by 19.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,179 shares of the company’s stock after purchasing an additional 1,788 shares during the quarter. HighPoint Advisor Group LLC’s holdings in Trane Technologies were worth $4,078,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in TT. Global Wealth Strategies & Associates acquired a new position in shares of Trane Technologies during the 4th quarter worth about $26,000. Sound Income Strategies LLC raised its holdings in Trane Technologies by 1,314.3% during the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock worth $37,000 after acquiring an additional 92 shares in the last quarter. Flagship Wealth Advisors LLC acquired a new position in Trane Technologies during the fourth quarter valued at approximately $37,000. Golden State Wealth Management LLC bought a new position in Trane Technologies in the fourth quarter valued at approximately $39,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of Trane Technologies during the 3rd quarter worth approximately $44,000. Institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on TT shares. UBS Group decreased their target price on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Citigroup lowered their price objective on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Melius Research reaffirmed a “hold” rating and issued a $398.00 target price on shares of Trane Technologies in a report on Tuesday, January 28th. Barclays reduced their price target on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a report on Monday, March 10th. Finally, JPMorgan Chase & Co. upped their price objective on Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $413.69.

Trane Technologies Trading Down 4.3 %

Shares of Trane Technologies stock opened at $331.69 on Monday. Trane Technologies plc has a 52-week low of $286.32 and a 52-week high of $422.00. The stock has a market cap of $74.40 billion, a PE ratio of 29.48, a PEG ratio of 2.50 and a beta of 1.08. The firm has a 50-day moving average of $357.83 and a 200-day moving average of $380.15. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21.

Trane Technologies (NYSE:TT) last announced its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (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%. As a group, sell-side analysts forecast that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 annualized dividend and a yield of 1.13%. Trane Technologies’s payout ratio is currently 33.42%.

Insider Activity

In other news, SVP Evan M. Turtz sold 318 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $358.12, for a total transaction of $113,882.16. Following the completion of the sale, the senior vice president now owns 20,513 shares of the company’s stock, valued at approximately $7,346,115.56. This represents a 1.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO David S. Regnery sold 2,754 shares of Trane Technologies stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 132,969 shares in the company, valued at $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 three months, 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 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.