Geode Capital Management LLC Buys 136,349 Shares of Trane Technologies plc (NYSE:TT)

Geode Capital Management LLC lifted its stake in Trane Technologies plc (NYSE:TT) by 2.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,775,263 shares of the company’s stock after buying an additional 136,349 shares during the period. Geode Capital Management LLC owned about 2.12% of Trane Technologies worth $1,760,549,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Global Wealth Strategies & Associates bought a new position in shares of Trane Technologies during the 4th quarter worth about $26,000. Sound Income Strategies LLC lifted its stake in Trane Technologies by 1,314.3% during the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock worth $37,000 after purchasing an additional 92 shares during the period. Flagship Wealth Advisors LLC acquired a new stake in Trane Technologies during the fourth quarter valued at approximately $37,000. Golden State Wealth Management LLC bought a new stake in shares of Trane Technologies in the 4th quarter valued at approximately $39,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of Trane Technologies in the 3rd quarter worth approximately $44,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Trane Technologies 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $313,099.92. Following the sale, the chief financial officer now directly owns 63,841 shares in the company, valued at approximately $22,818,050.22. This represents a 1.35 % decrease in their position. 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. 0.38% of the stock is owned by insiders.

Trane Technologies Trading Up 1.5 %

TT opened at $341.89 on Wednesday. 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 market cap of $76.68 billion, a price-to-earnings ratio of 30.39, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. 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 firm has a 50 day simple moving average of $355.69 and a 200 day simple moving average of $379.83.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results 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 return on equity of 35.37% and a net margin of 12.94%. On average, sell-side analysts anticipate 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 was paid on Monday, March 31st. Stockholders of record on Friday, March 7th were given a dividend of $0.94 per share. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 annualized dividend and a dividend yield of 1.10%. The ex-dividend date was Friday, March 7th. Trane Technologies’s payout ratio is presently 33.42%.

Analyst Upgrades and Downgrades

TT has been the topic of several recent analyst reports. Citigroup decreased 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. JPMorgan Chase & Co. upped their target price on shares of Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Melius downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price target for the company. in a report on Tuesday, January 28th. Barclays decreased their price objective on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. Finally, Wells Fargo & Company reduced their target price on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $413.69.

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.