Ashton Thomas Private Wealth LLC Acquires 2,503 Shares of Trane Technologies plc (NYSE:TT)

Ashton Thomas Private Wealth LLC grew its holdings in shares of Trane Technologies plc (NYSE:TT) by 54.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,075 shares of the company’s stock after purchasing an additional 2,503 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Trane Technologies were worth $2,613,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Callan Family Office LLC bought a new position in shares of Trane Technologies during the 4th quarter valued at $741,000. Inceptionr LLC raised its holdings in shares of Trane Technologies by 368.9% during the 4th quarter. Inceptionr LLC now owns 3,282 shares of the company’s stock valued at $1,212,000 after purchasing an additional 2,582 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Trane Technologies during the 4th quarter valued at $611,322,000. Arizona State Retirement System raised its holdings in shares of Trane Technologies by 0.3% during the 4th quarter. Arizona State Retirement System now owns 65,090 shares of the company’s stock valued at $24,041,000 after purchasing an additional 190 shares in the last quarter. Finally, Proficio Capital Partners LLC raised its holdings in shares of Trane Technologies by 28.3% during the 4th quarter. Proficio Capital Partners LLC now owns 685 shares of the company’s stock valued at $253,000 after purchasing an additional 151 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

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 shares were 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Mairead Magner sold 198 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total transaction of $70,806.78. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,234 shares of company stock worth $2,588,102. Corporate insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

TT has been the topic of several recent analyst reports. Melius Research reiterated a “hold” rating and issued a $398.00 target price on shares of Trane Technologies in a report on Tuesday, January 28th. Northcoast Research initiated coverage on shares of Trane Technologies in a report on Friday, November 22nd. They issued a “buy” rating and a $500.00 target price on the stock. Wells Fargo & Company dropped their target price on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. JPMorgan Chase & Co. lifted 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. Finally, UBS Group dropped their target price on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a report on Friday, January 31st. One research 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, Trane Technologies currently has an average rating of “Hold” and a consensus price target of $415.25.

Trane Technologies Stock Performance

NYSE TT opened at $344.81 on Friday. 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 company’s fifty day moving average is $367.96 and its two-hundred day moving average is $380.18. Trane Technologies plc has a 52-week low of $279.00 and a 52-week high of $422.00. The firm has a market capitalization of $77.34 billion, a price-to-earnings ratio of 30.65, a P/E/G ratio of 2.50 and a beta of 1.08.

Trane Technologies (NYSE:TT) last issued its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. Equities research analysts forecast that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The firm also recently announced 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 positive change from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 annualized dividend and a dividend yield of 1.09%. The ex-dividend date is Friday, March 7th. Trane Technologies’s payout ratio is 29.87%.

Trane Technologies 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.