Millstone Evans Group LLC Takes $233,000 Position in Trane Technologies plc (NYSE:TT)

Millstone Evans Group LLC bought a new stake in Trane Technologies plc (NYSE:TT) during the fourth quarter, Holdings Channel reports. The institutional investor bought 632 shares of the company’s stock, valued at approximately $233,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of TT. FMR LLC increased its stake in Trane Technologies by 4.0% in the third quarter. FMR LLC now owns 10,337,672 shares of the company’s stock valued at $4,018,563,000 after purchasing an additional 397,537 shares during the period. State Street Corp boosted its stake in shares of Trane Technologies by 0.8% during the third quarter. State Street Corp now owns 9,769,161 shares of the company’s stock worth $3,797,565,000 after buying an additional 77,830 shares during the period. Geode Capital Management LLC grew its holdings in shares of Trane Technologies by 1.4% during the third quarter. Geode Capital Management LLC now owns 4,638,914 shares of the company’s stock worth $1,797,700,000 after buying an additional 65,991 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Trane Technologies by 0.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,142,081 shares of the company’s stock valued at $832,691,000 after acquiring an additional 20,151 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in Trane Technologies during the 4th quarter valued at approximately $611,322,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Down 0.6 %

TT opened at $347.30 on Friday. 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 company has a market cap of $77.90 billion, a price-to-earnings ratio of 30.87, a PEG ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a one year low of $286.32 and a one year high of $422.00. The business’s fifty day moving average is $361.24 and its two-hundred day moving average is $379.52.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Thursday, January 30th. The company reported $2.61 EPS for the quarter, topping 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%. Analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The firm also recently disclosed 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 represents a $3.76 dividend on an annualized basis and a dividend yield of 1.08%. 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. Trane Technologies’s dividend payout ratio (DPR) is 33.42%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Citigroup lowered their target price on Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. UBS Group dropped their price objective on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Melius Research restated a “hold” rating and issued a $398.00 target price on shares of Trane Technologies in a research note on Tuesday, January 28th. Royal Bank of Canada increased their price target on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a report on Friday, January 3rd. Finally, Wells Fargo & Company reduced their price objective on shares of 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 research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $413.69.

Insider Buying and Selling

In other Trane Technologies news, CEO David S. Regnery sold 2,754 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was 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 owns 132,969 shares of the company’s stock, valued at approximately $47,515,142.46. This trade represents a 2.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Christopher J. Kuehn sold 876 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.42, for a total value of $313,099.92. Following the completion of the sale, the chief financial officer now owns 63,841 shares in the company, valued at $22,818,050.22. This represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,234 shares of company stock worth $2,588,102 in the last ninety days. Insiders own 0.38% of the company’s stock.

Trane Technologies Company 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.