Empowered Funds LLC Acquires 28,604 Shares of Trane Technologies plc (NYSE:TT)

Empowered Funds LLC grew its holdings in Trane Technologies plc (NYSE:TT) by 136.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,638 shares of the company’s stock after purchasing an additional 28,604 shares during the period. Empowered Funds LLC’s holdings in Trane Technologies were worth $18,334,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of TT. CWM LLC increased its holdings in shares of Trane Technologies by 33.8% in the 3rd quarter. CWM LLC now owns 8,675 shares of the company’s stock worth $3,372,000 after purchasing an additional 2,192 shares in the last quarter. Sanibel Captiva Trust Company Inc. bought a new stake in shares of Trane Technologies in the third quarter worth $217,000. Evexia Wealth LLC grew its holdings in shares of Trane Technologies by 24.7% in the third quarter. Evexia Wealth LLC now owns 2,208 shares of the company’s stock worth $862,000 after acquiring an additional 437 shares during the period. McNamara Financial Services Inc. bought a new stake in shares of Trane Technologies in the third quarter worth $591,000. Finally, Ritholtz Wealth Management grew its holdings in shares of Trane Technologies by 12.5% in the third quarter. Ritholtz Wealth Management now owns 1,226 shares of the company’s stock worth $477,000 after acquiring an additional 136 shares during the period. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Trading Down 0.5 %

Shares of NYSE TT opened at $356.07 on Friday. The business’s 50 day moving average is $383.65 and its two-hundred day moving average is $377.09. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. Trane Technologies plc has a 1-year low of $265.37 and a 1-year high of $422.00. The stock has a market capitalization of $80.12 billion, a P/E ratio of 31.65, a PEG ratio of 2.44 and a beta of 1.05.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, topping 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, research analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be paid a dividend of $0.94 per share. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.06%. Trane Technologies’s dividend payout ratio is currently 29.87%.

Analyst Upgrades and Downgrades

Several analysts recently commented on TT shares. Royal Bank of Canada lifted their price objective on Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a report on Friday, January 3rd. Mizuho boosted their price target on Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Wells Fargo & Company cut their price target on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a report on Friday, January 31st. Hsbc Global Res lowered Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Finally, HSBC lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price target for the company. in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $415.25.

Insider Activity

In related news, SVP Mairead Magner sold 4,329 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total value of $1,800,864.00. Following the transaction, the senior vice president now owns 12,893 shares of the company’s stock, valued at $5,363,488. This represents a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Christopher J. Kuehn sold 876 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total value of $313,099.92. Following the completion of the transaction, the chief financial officer now directly owns 63,841 shares in the company, valued at approximately $22,818,050.22. This trade represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,157 shares of company stock valued at $3,168,885. 0.38% of the stock is currently owned by insiders.

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.