Gladstone Institutional Advisory LLC Acquires 3,558 Shares of Trane Technologies plc (NYSE:TT)

Gladstone Institutional Advisory LLC lifted its holdings in Trane Technologies plc (NYSE:TT) by 219.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 5,183 shares of the company’s stock after purchasing an additional 3,558 shares during the quarter. Gladstone Institutional Advisory LLC’s holdings in Trane Technologies were worth $1,914,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of TT. MidAtlantic Capital Management Inc. bought a new stake in shares of Trane Technologies during the third quarter worth $27,000. Global Wealth Strategies & Associates acquired a new position in Trane Technologies in the 4th quarter worth $26,000. DT Investment Partners LLC acquired a new position in Trane Technologies in the 3rd quarter worth $36,000. Sound Income Strategies LLC increased its holdings in Trane Technologies by 1,314.3% during the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock worth $37,000 after purchasing an additional 92 shares in the last quarter. Finally, Pittenger & Anderson Inc. bought a new stake in shares of Trane Technologies in the third quarter valued at about $39,000. 82.97% of the stock is owned by institutional investors.

Insider Activity at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 876 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total transaction of $313,099.92. Following the sale, the chief financial officer now directly owns 63,841 shares of the company’s stock, valued at approximately $22,818,050.22. This represents a 1.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Mairead Magner sold 198 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total transaction of $70,806.78. Following the completion of the transaction, the senior vice president now directly owns 13,401 shares in the company, valued at approximately $4,792,331.61. This represents a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,563 shares of company stock worth $4,388,966 in the last ninety days. 0.38% of the stock is owned by company insiders.

Trane Technologies Price Performance

Shares of TT opened at $361.80 on Thursday. The company’s 50-day moving average is $381.60 and its 200-day moving average is $378.14. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. The firm has a market capitalization of $81.41 billion, a PE ratio of 32.16, a PEG ratio of 2.44 and a beta of 1.05. Trane Technologies plc has a fifty-two week low of $265.37 and a fifty-two week high of $422.00.

Trane Technologies (NYSE:TT) last released 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%. Equities analysts forecast that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be issued a dividend of $0.94 per share. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies’s dividend payout ratio (DPR) is presently 29.87%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on TT shares. UBS Group cut their target price on Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. HSBC downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price for the company. in a research report on Thursday, October 31st. Northcoast Research assumed coverage on shares of Trane Technologies in a research note on Friday, November 22nd. They set a “buy” rating and a $500.00 price objective for the company. Melius Research reaffirmed a “hold” rating and issued a $398.00 target price on shares of Trane Technologies in a research report on Tuesday, January 28th. Finally, Royal Bank of Canada upped their target price on Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company 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.