Hanlon Investment Management Inc. Has $1.20 Million Position in Trane Technologies plc (NYSE:TT)

Hanlon Investment Management Inc. decreased its position in shares of Trane Technologies plc (NYSE:TT) by 6.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 3,247 shares of the company’s stock after selling 212 shares during the period. Hanlon Investment Management Inc.’s holdings in Trane Technologies were worth $1,199,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Trane Technologies by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 19,235,570 shares of the company’s stock worth $7,104,658,000 after acquiring an additional 152,353 shares during the last quarter. Geode Capital Management LLC boosted its position in Trane Technologies by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 4,775,263 shares of the company’s stock valued at $1,760,549,000 after buying an additional 136,349 shares in the last quarter. Norges Bank acquired a new position in shares of Trane Technologies during the fourth quarter worth $1,117,816,000. Raymond James Financial Inc. acquired a new stake in shares of Trane Technologies during the 4th quarter valued at $611,322,000. Finally, Charles Schwab Investment Management Inc. grew its position in Trane Technologies by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,248,083 shares of the company’s stock worth $460,980,000 after acquiring an additional 21,678 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Insider Activity

In other Trane Technologies news, SVP Mairead Magner sold 198 shares of Trane Technologies stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total transaction of $70,806.78. Following the transaction, the senior vice president now directly owns 13,401 shares of the company’s stock, valued at $4,792,331.61. The trade was a 1.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David S. Regnery sold 2,754 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $47,515,142.46. This represents a 2.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,234 shares of company stock worth $2,588,102 over the last quarter. 0.38% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on TT shares. Wells Fargo & Company cut their price target on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a research note on Friday, January 31st. Royal Bank of Canada boosted their target price on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a report on Friday, January 3rd. 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 research note on Tuesday, January 28th. UBS Group reduced their price objective 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. Finally, Barclays cut their target price on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Trane Technologies currently has an average rating of “Hold” and a consensus price target of $409.13.

Trane Technologies Price Performance

Trane Technologies stock opened at $346.17 on Monday. The stock’s 50 day moving average price is $347.12 and its two-hundred day moving average price is $376.38. The stock has a market capitalization of $77.64 billion, a price-to-earnings ratio of 30.77, a PEG ratio of 2.50 and a beta of 1.08. 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 plc has a 52-week low of $286.32 and a 52-week high of $422.00.

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 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%. On average, equities analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a yield of 1.09%. Trane Technologies’s dividend payout ratio (DPR) is presently 33.42%.

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.