Trane Technologies plc (NYSE:TT) Shares Purchased by First Horizon Advisors Inc.

First Horizon Advisors Inc. increased its holdings in Trane Technologies plc (NYSE:TT) by 2.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,064 shares of the company’s stock after purchasing an additional 101 shares during the quarter. First Horizon Advisors Inc.’s holdings in Trane Technologies were worth $1,501,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. MidAtlantic Capital Management Inc. acquired a new position in shares of Trane Technologies during the 3rd quarter worth approximately $27,000. Global Wealth Strategies & Associates acquired a new position in Trane Technologies during the fourth quarter worth $26,000. Sound Income Strategies LLC lifted its holdings in Trane Technologies by 1,314.3% during the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after purchasing an additional 92 shares in the last quarter. Pittenger & Anderson Inc. purchased a new position in Trane Technologies during the third quarter valued at $39,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Trane Technologies in the fourth quarter valued at about $39,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Down 3.3 %

Shares of NYSE TT opened at $354.56 on Monday. Trane Technologies plc has a 1 year low of $279.00 and a 1 year high of $422.00. The company has a market capitalization of $79.52 billion, a P/E ratio of 31.52, a P/E/G ratio of 2.50 and a beta of 1.05. The company has a 50 day simple moving average of $374.82 and a 200-day simple moving average of $380.23. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88.

Trane Technologies (NYSE:TT) last posted its earnings results 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%. On average, equities research analysts predict 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 will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a $0.94 dividend. The ex-dividend date is Friday, March 7th. This represents a $3.76 dividend on an annualized basis and a yield of 1.06%. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s dividend payout ratio is presently 29.87%.

Insiders Place Their Bets

In other news, CEO David S. Regnery sold 2,754 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total transaction of $984,114.36. Following the completion of the transaction, the chief executive officer now directly owns 132,969 shares in the company, valued at $47,515,142.46. This trade represents a 2.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Christopher J. Kuehn sold 876 shares of Trane Technologies stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.42, for a total value of $313,099.92. Following the completion of the sale, the chief financial officer now directly owns 63,841 shares of the company’s stock, valued at $22,818,050.22. The trade was a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,563 shares of company stock valued at $4,388,966 over the last 90 days. 0.38% of the stock is owned by company insiders.

Analysts Set New Price Targets

TT has been the topic of several research analyst reports. Hsbc Global Res cut Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Melius Research reaffirmed a “hold” rating and issued a $398.00 price target on shares of Trane Technologies in a research note on Tuesday, January 28th. JPMorgan Chase & Co. increased their price objective on Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Northcoast Research initiated coverage on shares of Trane Technologies in a research note on Friday, November 22nd. They set a “buy” rating and a $500.00 target price on the stock. Finally, HSBC cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price for the company. in a research report 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target 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.