Trane Technologies plc (NYSE:TT) Shares Purchased by DnB Asset Management AS

DnB Asset Management AS raised its holdings in Trane Technologies plc (NYSE:TT) by 2.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 58,966 shares of the company’s stock after purchasing an additional 1,305 shares during the period. DnB Asset Management AS’s holdings in Trane Technologies were worth $21,779,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in TT. Cobblestone Capital Advisors LLC NY raised its stake in Trane Technologies by 1.8% during the third quarter. Cobblestone Capital Advisors LLC NY now owns 1,490 shares of the company’s stock valued at $579,000 after buying an additional 27 shares in the last quarter. Secured Retirement Advisors LLC raised its position in shares of Trane Technologies by 0.6% during the 4th quarter. Secured Retirement Advisors LLC now owns 4,628 shares of the company’s stock valued at $1,709,000 after acquiring an additional 28 shares in the last quarter. First Citizens Financial Corp lifted its stake in Trane Technologies by 4.6% during the fourth quarter. First Citizens Financial Corp now owns 656 shares of the company’s stock worth $242,000 after purchasing an additional 29 shares during the last quarter. Catalina Capital Group LLC boosted its holdings in Trane Technologies by 3.2% in the fourth quarter. Catalina Capital Group LLC now owns 924 shares of the company’s stock worth $341,000 after purchasing an additional 29 shares during the period. Finally, Stratos Wealth Partners LTD. increased its stake in Trane Technologies by 0.5% during the fourth quarter. Stratos Wealth Partners LTD. now owns 5,538 shares of the company’s stock valued at $2,046,000 after purchasing an additional 29 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on TT shares. JPMorgan Chase & Co. lifted their price target on shares of Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Melius Research reaffirmed a “hold” rating and set a $398.00 target price on shares of Trane Technologies in a report on Tuesday, January 28th. Melius downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price target on the stock. in a report on Tuesday, January 28th. Barclays lowered their price objective on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. Finally, Citigroup cut 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. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $413.69.

Trane Technologies Price Performance

Shares of Trane Technologies stock opened at $331.69 on Friday. Trane Technologies plc has a 1-year low of $286.32 and a 1-year high of $422.00. The firm has a fifty day simple moving average of $357.83 and a 200-day simple moving average of $379.73. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $74.40 billion, a price-to-earnings ratio of 29.48, a PEG ratio of 2.50 and a beta of 1.08.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, beating 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, sell-side analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors 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. This represents a $3.76 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies’s dividend payout ratio is presently 33.42%.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, SVP Mairead Magner sold 198 shares of Trane Technologies stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total transaction of $70,806.78. Following the sale, the senior vice president now owns 13,401 shares in the company, valued at $4,792,331.61. The trade was a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Christopher J. Kuehn sold 876 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total transaction of $313,099.92. Following the transaction, the chief financial officer now directly owns 63,841 shares of the company’s stock, valued at $22,818,050.22. The trade was a 1.35 % 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 ninety days. Company insiders own 0.38% of the company’s stock.

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.