Gladstone Institutional Advisory LLC Acquires 3,558 Shares of Trane Technologies plc (NYSE:TT)

Gladstone Institutional Advisory LLC boosted its holdings in Trane Technologies plc (NYSE:TT) by 219.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,183 shares of the company’s stock after acquiring an additional 3,558 shares during the quarter. Gladstone Institutional Advisory LLC’s holdings in Trane Technologies were worth $1,914,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TT. Ritholtz Wealth Management grew its holdings in shares of Trane Technologies by 12.5% during the 3rd quarter. Ritholtz Wealth Management now owns 1,226 shares of the company’s stock valued at $477,000 after purchasing an additional 136 shares during the last quarter. Procyon Advisors LLC boosted its position in Trane Technologies by 4.0% in the third quarter. Procyon Advisors LLC now owns 927 shares of the company’s stock valued at $360,000 after buying an additional 36 shares in the last quarter. Creative Planning grew its stake in shares of Trane Technologies by 5.8% during the third quarter. Creative Planning now owns 62,756 shares of the company’s stock worth $24,395,000 after buying an additional 3,446 shares during the last quarter. Swedbank AB increased its holdings in shares of Trane Technologies by 2.8% during the third quarter. Swedbank AB now owns 743,794 shares of the company’s stock worth $289,135,000 after buying an additional 20,400 shares in the last quarter. Finally, Braun Bostich & Associates Inc. bought a new position in shares of Trane Technologies in the 3rd quarter valued at $208,000. Institutional investors own 82.97% of the company’s stock.

Insider Activity

In other Trane Technologies news, CEO David S. Regnery sold 2,754 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total transaction of $984,114.36. Following the completion of the sale, the chief executive officer now owns 132,969 shares in the company, valued at approximately $47,515,142.46. The trade was a 2.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Mairead Magner sold 198 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were 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 in the company, valued at approximately $4,792,331.61. The trade was a 1.46 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,563 shares of company stock worth $4,388,966. Company insiders own 0.38% of the company’s stock.

Trane Technologies Stock Down 0.8 %

Shares of Trane Technologies stock opened at $361.80 on Thursday. The stock’s 50-day moving average is $381.60 and its 200 day moving average is $378.14. Trane Technologies plc has a one year low of $265.37 and a one year high of $422.00. The firm has a market cap of $81.41 billion, a price-to-earnings ratio of 32.16, a PEG ratio of 2.44 and a beta of 1.05. 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 quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be paid a $0.94 dividend. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies’s payout ratio is 29.87%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company reduced their price objective on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a research report on Friday, January 31st. Melius Research reaffirmed a “hold” rating and issued a $398.00 price objective on shares of Trane Technologies in a research note on Tuesday, January 28th. Royal Bank of Canada lifted their target price on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research report on Friday, January 3rd. Citigroup reduced their target price on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Finally, HSBC downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price target for the company. in a research note on Thursday, October 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $415.25.

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.