Sovran Advisors LLC Buys New Position in Trane Technologies plc (NYSE:TT)

Sovran Advisors LLC purchased a new stake in Trane Technologies plc (NYSE:TT) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 526 shares of the company’s stock, valued at approximately $201,000.

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

Analyst Ratings Changes

A number of analysts recently issued reports on TT shares. Mizuho raised their price objective on shares of Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Robert W. Baird decreased their price target on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Royal Bank of Canada lifted 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. Wells Fargo & Company decreased their target price 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. Finally, Hsbc Global Res lowered 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 given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $415.25.

Insiders Place Their Bets

In related news, SVP Mairead Magner sold 198 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total value of $70,806.78. Following the transaction, the senior vice president now owns 13,401 shares of the company’s stock, valued at $4,792,331.61. This represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David S. Regnery sold 2,754 shares of Trane Technologies stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total value of $984,114.36. Following the sale, the chief executive officer now directly 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 position. The disclosure for this sale can be found here. Insiders have sold 11,563 shares of company stock worth $4,388,966 in the last ninety days. 0.38% of the stock is currently owned by insiders.

Trane Technologies Trading Down 0.1 %

Shares of TT opened at $361.25 on Friday. Trane Technologies plc has a twelve month low of $270.50 and a twelve month high of $422.00. The stock has a market cap of $81.29 billion, a PE ratio of 32.11, a P/E/G ratio of 2.44 and a beta of 1.05. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The business’s 50-day moving average price is $380.49 and its 200-day moving average price is $378.02.

Trane Technologies (NYSE:TT) last posted its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share 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, equities analysts forecast that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

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

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.