Trane Technologies plc (NYSE:TT) Shares Sold by Aspen Investment Management Inc

Aspen Investment Management Inc lessened its position in shares of Trane Technologies plc (NYSE:TT) by 0.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,256 shares of the company’s stock after selling 30 shares during the quarter. Aspen Investment Management Inc’s holdings in Trane Technologies were worth $1,941,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TT. Tidal Investments LLC boosted its position in Trane Technologies by 22.2% during the third quarter. Tidal Investments LLC now owns 15,827 shares of the company’s stock worth $6,152,000 after purchasing an additional 2,874 shares in the last quarter. Synovus Financial Corp lifted its position in shares of Trane Technologies by 16.8% during the 3rd quarter. Synovus Financial Corp now owns 8,828 shares of the company’s stock valued at $3,431,000 after buying an additional 1,271 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in Trane Technologies in the 4th quarter valued at $468,000. HB Wealth Management LLC increased its holdings in Trane Technologies by 14.3% in the 4th quarter. HB Wealth Management LLC now owns 5,689 shares of the company’s stock worth $2,101,000 after acquiring an additional 711 shares in the last quarter. Finally, GDS Wealth Management raised its position in Trane Technologies by 4.3% during the third quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock worth $20,123,000 after acquiring an additional 2,124 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling

In related news, SVP Mairead Magner sold 198 shares of the stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 13,401 shares of the company’s stock, valued at approximately $4,792,331.61. This trade represents a 1.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Evan M. Turtz sold 318 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $358.12, for a total value of $113,882.16. Following the completion of the sale, the senior vice president now directly owns 20,513 shares in the company, valued at approximately $7,346,115.56. The trade was a 1.53 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,563 shares of company stock valued at $4,388,966. 0.38% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TT. JPMorgan Chase & Co. lifted their target price on shares of Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Barclays lifted their price objective on Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Royal Bank of Canada increased their target price on Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a report on Friday, January 3rd. Citigroup lowered their price target 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. Finally, Hsbc Global Res downgraded Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Trane Technologies currently has an average rating of “Hold” and a consensus target price of $415.25.

Trane Technologies Price Performance

Shares of TT stock opened at $366.74 on Friday. 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 company has a market capitalization of $82.26 billion, a PE ratio of 32.60, a price-to-earnings-growth ratio of 2.48 and a beta of 1.05. The firm’s 50-day moving average is $375.72 and its two-hundred day moving average is $379.16. Trane Technologies plc has a 12 month low of $274.77 and a 12 month high of $422.00.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Thursday, January 30th. The company reported $2.61 EPS for the quarter, beating analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. Analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be issued a dividend of $0.94 per share. The ex-dividend date is Friday, March 7th. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.03%. Trane Technologies’s dividend payout ratio is currently 29.87%.

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.