Trane Technologies plc (NYSE:TT) Shares Purchased by Simmons Bank

Simmons Bank grew its stake in Trane Technologies plc (NYSE:TT) by 12.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 725 shares of the company’s stock after buying an additional 82 shares during the period. Simmons Bank’s holdings in Trane Technologies were worth $268,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. Checchi Capital Advisers LLC boosted its position in Trane Technologies by 21.8% in the fourth quarter. Checchi Capital Advisers LLC now owns 2,373 shares of the company’s stock valued at $876,000 after buying an additional 425 shares during the last quarter. Impact Investors Inc purchased a new position in shares of Trane Technologies during the fourth quarter worth $297,000. Advisor OS LLC lifted its holdings in shares of Trane Technologies by 6.2% in the 4th quarter. Advisor OS LLC now owns 770 shares of the company’s stock valued at $284,000 after buying an additional 45 shares during the period. MorganRosel Wealth Management LLC lifted its holdings in Trane Technologies by 2.7% in the fourth quarter. MorganRosel Wealth Management LLC now owns 3,695 shares of the company’s stock valued at $1,365,000 after acquiring an additional 98 shares during the period. Finally, Illinois Municipal Retirement Fund grew its stake in shares of Trane Technologies by 6.0% during the 4th quarter. Illinois Municipal Retirement Fund now owns 27,357 shares of the company’s stock worth $10,104,000 after purchasing an additional 1,550 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Stock Down 1.7 %

Shares of TT opened at $344.64 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. Trane Technologies plc has a 52-week low of $279.00 and a 52-week high of $422.00. The stock has a fifty day simple moving average of $371.72 and a two-hundred day simple moving average of $380.02. The company has a market capitalization of $77.30 billion, a PE ratio of 30.63, a price-to-earnings-growth ratio of 2.50 and a beta of 1.05.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Thursday, January 30th. The company reported $2.61 EPS for the quarter, beating 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%. As a group, equities analysts forecast that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.09%. The ex-dividend date is Friday, March 7th. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s dividend payout ratio (DPR) is 29.87%.

Insider Activity

In related news, SVP Evan M. Turtz sold 318 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $358.12, for a total transaction of $113,882.16. Following the completion of the transaction, the senior vice president now directly owns 20,513 shares of the company’s stock, valued at $7,346,115.56. The trade was a 1.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Mairead Magner sold 198 shares of Trane Technologies stock in a transaction dated 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 transaction, the senior vice president now owns 13,401 shares of the company’s stock, valued at $4,792,331.61. The trade was a 1.46 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,563 shares of company stock valued at $4,388,966. Company insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company lowered their target price on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a research note on Friday, January 31st. Barclays upped their target price on Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Northcoast Research initiated coverage on shares of Trane Technologies in a research note on Friday, November 22nd. They issued a “buy” rating and a $500.00 price target on the stock. UBS Group decreased their price objective on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Finally, HSBC lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective for the company. in a research note on Thursday, October 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. Based on data from MarketBeat, Trane Technologies presently has an average rating of “Hold” and a consensus price target of $415.25.

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.