Trane Technologies plc (NYSE:TT) Shares Purchased by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd raised its stake in Trane Technologies plc (NYSE:TT) by 60.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 4,109 shares of the company’s stock after buying an additional 1,556 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Trane Technologies were worth $1,518,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. PAX Financial Group LLC boosted its position in Trane Technologies by 17.4% during the 4th quarter. PAX Financial Group LLC now owns 858 shares of the company’s stock valued at $317,000 after purchasing an additional 127 shares during the period. Bornite Capital Management LP lifted its stake in Trane Technologies by 14.9% in the fourth quarter. Bornite Capital Management LP now owns 40,200 shares of the company’s stock valued at $14,848,000 after buying an additional 5,200 shares during the last quarter. Pitcairn Co. boosted its holdings in shares of Trane Technologies by 4.4% during the fourth quarter. Pitcairn Co. now owns 8,973 shares of the company’s stock valued at $3,314,000 after acquiring an additional 380 shares during the period. World Investment Advisors boosted its holdings in shares of Trane Technologies by 11.9% during the fourth quarter. World Investment Advisors now owns 38,691 shares of the company’s stock valued at $14,291,000 after acquiring an additional 4,110 shares during the period. Finally, OneAscent Financial Services LLC increased its holdings in shares of Trane Technologies by 13.5% in the 4th quarter. OneAscent Financial Services LLC now owns 2,567 shares of the company’s stock worth $948,000 after acquiring an additional 305 shares during the period. 82.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TT has been the subject of a number of analyst reports. Citigroup reduced their target price on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Barclays lowered their target price on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. Wells Fargo & Company reduced their price target on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a research report on Friday, January 31st. Melius Research reissued a “hold” rating and set a $398.00 price target on shares of Trane Technologies in a report on Tuesday, January 28th. Finally, Royal Bank of Canada increased their target price on shares of Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a research report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $413.69.

Trane Technologies Price Performance

NYSE TT opened at $318.18 on Friday. The stock has a market capitalization of $71.36 billion, a P/E ratio of 28.28, a P/E/G ratio of 2.50 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. The business’s fifty day moving average is $351.63 and its two-hundred day moving average is $378.92. Trane Technologies plc has a 1 year low of $286.32 and a 1 year high of $422.00.

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 return on equity of 35.37% and a net margin of 12.94%. On average, research analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Friday, June 6th. Trane Technologies’s payout ratio is 33.42%.

Insider Activity

In other Trane Technologies news, SVP Evan M. Turtz sold 318 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $358.12, for a total value of $113,882.16. Following the transaction, the senior vice president now owns 20,513 shares in the company, valued at $7,346,115.56. The trade was a 1.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Mairead Magner sold 198 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total value of $70,806.78. Following the completion of the sale, the senior vice president now directly owns 13,401 shares of the company’s stock, valued at approximately $4,792,331.61. The trade was a 1.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,234 shares of company stock worth $2,588,102 over the last 90 days. 0.38% of the stock is 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.