Olympiad Research LP Buys Shares of 598 Trane Technologies plc (NYSE:TT)

Olympiad Research LP bought a new stake in Trane Technologies plc (NYSE:TT) during the fourth quarter, HoldingsChannel.com reports. The firm bought 598 shares of the company’s stock, valued at approximately $221,000.

A number of other large investors have also recently modified their holdings of the business. Swedbank AB boosted its holdings in shares of Trane Technologies by 2.8% during the 3rd quarter. Swedbank AB now owns 743,794 shares of the company’s stock valued at $289,135,000 after acquiring an additional 20,400 shares in the last quarter. Private Advisor Group LLC boosted its holdings in shares of Trane Technologies by 13.9% during the 3rd quarter. Private Advisor Group LLC now owns 8,553 shares of the company’s stock valued at $3,325,000 after acquiring an additional 1,043 shares in the last quarter. Ballentine Partners LLC boosted its holdings in shares of Trane Technologies by 12.9% during the 3rd quarter. Ballentine Partners LLC now owns 2,648 shares of the company’s stock valued at $1,029,000 after acquiring an additional 302 shares in the last quarter. Highland Capital Management LLC acquired a new stake in shares of Trane Technologies during the 3rd quarter valued at $1,321,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Trane Technologies by 42.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,324 shares of the company’s stock worth $9,339,000 after purchasing an additional 7,194 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

TT has been the subject of several analyst reports. JPMorgan Chase & Co. raised 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. Citigroup lowered their target price 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. UBS Group lowered their target price on Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Melius Research reissued a “hold” rating and issued a $398.00 price objective on shares of Trane Technologies in a research report on Tuesday, January 28th. Finally, Hsbc Global Res downgraded Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $415.25.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 2,754 shares of the stock in a transaction on 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 transaction, the chief executive officer now directly owns 132,969 shares of the company’s stock, valued at approximately $47,515,142.46. This represents a 2.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Christopher J. Kuehn sold 876 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.42, for a total value of $313,099.92. Following the transaction, the chief financial officer now directly owns 63,841 shares of the company’s stock, valued at approximately $22,818,050.22. This trade represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,563 shares of company stock valued at $4,388,966. Company insiders own 0.38% of the company’s stock.

Trane Technologies Stock Performance

TT stock opened at $354.56 on Monday. The firm has a market cap of $79.52 billion, a PE ratio of 31.52, a P/E/G ratio of 2.50 and a beta of 1.05. 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 business has a 50 day moving average of $374.82 and a 200-day moving average of $380.23. 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 earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (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 expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The company 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 dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.06%. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies’s dividend payout ratio is 29.87%.

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.