Generali Asset Management SPA SGR Takes $12.85 Million Position in Trane Technologies plc (NYSE:TT)

Generali Asset Management SPA SGR purchased a new position in Trane Technologies plc (NYSE:TT) in the 4th quarter, Holdings Channel reports. The firm purchased 34,787 shares of the company’s stock, valued at approximately $12,849,000.

Other hedge funds have also recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in Trane Technologies during the fourth quarter valued at about $611,322,000. Massachusetts Financial Services Co. MA increased its holdings in Trane Technologies by 35.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock worth $991,460,000 after purchasing an additional 671,691 shares during the period. FMR LLC increased its holdings in Trane Technologies by 4.0% during the 3rd quarter. FMR LLC now owns 10,337,672 shares of the company’s stock worth $4,018,563,000 after purchasing an additional 397,537 shares during the period. Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of Trane Technologies by 455.2% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 427,226 shares of the company’s stock valued at $167,977,000 after acquiring an additional 350,277 shares during the period. Finally, Nordea Investment Management AB increased its holdings in shares of Trane Technologies by 42.9% in the 4th quarter. Nordea Investment Management AB now owns 978,275 shares of the company’s stock valued at $361,874,000 after acquiring an additional 293,916 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Trading Up 1.1 %

Shares of NYSE:TT opened at $351.46 on Tuesday. The company has a 50 day moving average price of $364.02 and a 200 day moving average price of $380.16. Trane Technologies plc has a 1-year low of $286.32 and a 1-year high of $422.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. The stock has a market capitalization of $78.83 billion, a price-to-earnings ratio of 31.24, a PEG ratio of 2.50 and a beta of 1.08.

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, topping analysts’ consensus estimates 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 anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a dividend of $0.94 per share. 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. This represents a $3.76 dividend on an annualized basis and a yield of 1.07%. Trane Technologies’s payout ratio is currently 33.42%.

Insiders Place Their Bets

In related news, CFO Christopher J. Kuehn sold 770 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $358.39, for a total value of $275,960.30. Following the sale, the chief financial officer now owns 62,221 shares of the company’s stock, valued at $22,299,384.19. The trade was a 1.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Mairead Magner sold 198 shares of the company’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 sale, the senior vice president now directly owns 13,401 shares in the company, valued at $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 a total of 7,234 shares of company stock valued at $2,588,102 in the last quarter. Insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Citigroup cut their price target on Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a report on Monday, January 13th. 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. Northcoast Research initiated coverage on Trane Technologies in a research report on Friday, November 22nd. They issued a “buy” rating and a $500.00 price objective for the company. Barclays lowered their price target on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. Finally, Wells Fargo & Company lowered their price target on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $413.69.

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.