Andra AP fonden Boosts Holdings in Trane Technologies plc (NYSE:TT)

Andra AP fonden boosted its stake in shares of Trane Technologies plc (NYSE:TT) by 107.7% in the 4th quarter, Holdings Channel reports. The fund owned 13,500 shares of the company’s stock after buying an additional 7,000 shares during the period. Andra AP fonden’s holdings in Trane Technologies were worth $4,986,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of TT. Tidal Investments LLC increased its holdings in shares of Trane Technologies by 22.2% during the 3rd quarter. Tidal Investments LLC now owns 15,827 shares of the company’s stock valued at $6,152,000 after purchasing an additional 2,874 shares in the last quarter. Synovus Financial Corp boosted its position in Trane Technologies by 16.8% during the third quarter. Synovus Financial Corp now owns 8,828 shares of the company’s stock worth $3,431,000 after purchasing an additional 1,271 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in Trane Technologies in the fourth quarter valued at approximately $468,000. HB Wealth Management LLC increased its position in shares of Trane Technologies by 14.3% in the fourth quarter. HB Wealth Management LLC now owns 5,689 shares of the company’s stock valued at $2,101,000 after buying an additional 711 shares in the last quarter. Finally, GDS Wealth Management raised its stake in shares of Trane Technologies by 4.3% during the 3rd quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock worth $20,123,000 after buying an additional 2,124 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Mairead Magner sold 198 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total transaction 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. This trade represents a 1.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David S. Regnery sold 2,754 shares of the company’s stock in a transaction dated 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. The trade was a 2.03 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,234 shares of company stock valued at $2,588,102. 0.38% of the stock is currently owned by company insiders.

Trane Technologies Stock Up 0.9 %

Shares of NYSE:TT opened at $344.81 on Friday. Trane Technologies plc has a 52-week low of $279.00 and a 52-week high of $422.00. The stock has a market cap of $77.34 billion, a P/E ratio of 30.65, a PEG ratio of 2.50 and a beta of 1.08. The business has a fifty day moving average of $367.96 and a two-hundred day moving average of $380.41. 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 (NYSE:TT) last announced its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. On average, research 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 declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be issued a dividend of $0.94 per share. The ex-dividend date is Friday, March 7th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.09%. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s dividend payout ratio (DPR) is currently 29.87%.

Analyst Upgrades and Downgrades

TT has been the topic of a number of research analyst reports. Northcoast Research initiated coverage on shares of Trane Technologies in a report on Friday, November 22nd. They issued a “buy” rating and a $500.00 price target for the company. JPMorgan Chase & Co. boosted their target price on shares of Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Melius Research reaffirmed a “hold” rating and issued a $398.00 price target on shares of Trane Technologies in a research note on Tuesday, January 28th. Royal Bank of Canada boosted their price objective on Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research note on Friday, January 3rd. Finally, Citigroup reduced their target price on Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price 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.