Trane Technologies plc (NYSE:TT) Stake Raised by Bank OZK

Bank OZK increased its stake in Trane Technologies plc (NYSE:TT) by 7.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,888 shares of the company’s stock after purchasing an additional 478 shares during the quarter. Trane Technologies makes up 1.1% of Bank OZK’s investment portfolio, making the stock its 29th largest holding. Bank OZK’s holdings in Trane Technologies were worth $2,544,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Global Wealth Strategies & Associates acquired a new stake in Trane Technologies in the 4th quarter worth approximately $26,000. MidAtlantic Capital Management Inc. bought a new stake in Trane Technologies in the third quarter valued at $27,000. Sound Income Strategies LLC grew its position in Trane Technologies by 1,314.3% in the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after acquiring an additional 92 shares during the period. Pittenger & Anderson Inc. bought a new stake in shares of Trane Technologies during the third quarter worth $39,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of Trane Technologies during the fourth quarter worth $39,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity

In related news, SVP Mairead Magner sold 198 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total transaction of $70,806.78. Following the transaction, the senior vice president now directly owns 13,401 shares of the company’s stock, valued at approximately $4,792,331.61. This represents a 1.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David S. Regnery sold 2,754 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total value of $984,114.36. Following the transaction, the chief executive officer now directly owns 132,969 shares in the company, valued at approximately $47,515,142.46. This trade represents a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,563 shares of company stock valued at $4,388,966 in the last ninety days. 0.38% of the stock is owned by company insiders.

Trane Technologies Trading Up 2.9 %

NYSE TT opened at $354.22 on Friday. The business’s 50-day moving average price is $371.26 and its two-hundred day moving average price is $380.16. Trane Technologies plc has a 12 month low of $279.00 and a 12 month high of $422.00. The firm has a market capitalization of $79.45 billion, a PE ratio of 31.49, a price-to-earnings-growth ratio of 2.50 and a beta of 1.05. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data 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 return on equity of 35.37% and a net margin of 12.94%. On average, analysts expect that Trane Technologies plc will post 12.83 EPS for the current 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 $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.06%. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies’s payout ratio is currently 29.87%.

Analyst Ratings Changes

Several brokerages have recently issued reports on TT. JPMorgan Chase & Co. upped their price target on Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Melius Research restated a “hold” rating and issued a $398.00 price target on shares of Trane Technologies in a research note on Tuesday, January 28th. Wells Fargo & Company cut their price objective 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. Citigroup dropped their price target on Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, Barclays lifted their price objective on Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $415.25.

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.