LPL Financial LLC Boosts Stock Position in Trane Technologies plc (NYSE:TT)

LPL Financial LLC increased its stake in shares of Trane Technologies plc (NYSE:TT) by 30.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 201,404 shares of the company’s stock after buying an additional 46,983 shares during the quarter. LPL Financial LLC owned about 0.09% of Trane Technologies worth $74,389,000 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 the stock. Dynamic Technology Lab Private Ltd increased its holdings in shares of Trane Technologies by 2.3% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 2,553 shares of the company’s stock worth $992,000 after buying an additional 58 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Trane Technologies by 16.9% during the third quarter. The Manufacturers Life Insurance Company now owns 487,592 shares of the company’s stock worth $189,542,000 after acquiring an additional 70,408 shares during the last quarter. D.A. Davidson & CO. raised its position in Trane Technologies by 23.3% in the third quarter. D.A. Davidson & CO. now owns 8,177 shares of the company’s stock valued at $3,179,000 after purchasing an additional 1,544 shares during the period. Quantbot Technologies LP purchased a new stake in Trane Technologies in the third quarter valued at $4,467,000. Finally, Avestar Capital LLC grew its holdings in shares of Trane Technologies by 5.5% during the 3rd quarter. Avestar Capital LLC now owns 1,700 shares of the company’s stock worth $661,000 after purchasing an additional 88 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Stock Down 3.2 %

TT stock opened at $352.29 on Thursday. The company’s 50 day moving average price is $359.83 and its 200 day moving average price is $380.06. The firm has a market capitalization of $79.01 billion, a price-to-earnings ratio of 31.31, a PEG ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a fifty-two week low of $286.32 and a fifty-two week high of $422.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share 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, equities research 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 given 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 dividend yield of 1.07%. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies’s dividend payout ratio is currently 33.42%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on TT shares. Melius lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective on the stock. in a report on Tuesday, January 28th. UBS Group reduced their price target 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. Citigroup lowered their price objective on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Royal Bank of Canada boosted their target price on Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a research report on Friday, January 3rd. Finally, JPMorgan Chase & Co. raised their price target on Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $413.69.

Insider Transactions at Trane Technologies

In other news, SVP Evan M. Turtz sold 318 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was 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 of the company’s stock, valued at approximately $7,346,115.56. The trade was a 1.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Mairead Magner sold 198 shares of the firm’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 value of $70,806.78. Following the transaction, the senior vice president now owns 13,401 shares in the company, valued at $4,792,331.61. This represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,234 shares of company stock valued at $2,588,102. Corporate 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.