5,557 Shares in Trane Technologies plc (NYSE:TT) Acquired by Kane Investment Management Inc.

Kane Investment Management Inc. bought a new stake in shares of Trane Technologies plc (NYSE:TT) during the 4th quarter, Holdings Channel.com reports. The fund bought 5,557 shares of the company’s stock, valued at approximately $2,052,000. Trane Technologies comprises approximately 1.1% of Kane Investment Management Inc.’s investment portfolio, making the stock its 19th largest holding.

Several other large investors have also recently made changes to their positions in TT. Ontario Teachers Pension Plan Board grew its position in Trane Technologies by 49.9% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 2,054 shares of the company’s stock worth $759,000 after purchasing an additional 684 shares during the last quarter. Aware Super Pty Ltd as trustee of Aware Super purchased a new stake in shares of Trane Technologies during the fourth quarter valued at $31,998,000. LaSalle St. Investment Advisors LLC acquired a new position in shares of Trane Technologies in the 4th quarter valued at $242,000. XTX Topco Ltd lifted its position in Trane Technologies by 456.6% during the 4th quarter. XTX Topco Ltd now owns 3,039 shares of the company’s stock worth $1,122,000 after acquiring an additional 2,493 shares during the period. Finally, CreativeOne Wealth LLC grew its stake in Trane Technologies by 12.5% during the 4th quarter. CreativeOne Wealth LLC now owns 2,037 shares of the company’s stock valued at $752,000 after purchasing an additional 227 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TT. Barclays dropped their target price on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. Citigroup reduced their target price on shares of Trane Technologies from $476.00 to $415.00 and set a “buy” rating for the company in a report on Monday. Melius lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price target on the stock. in a report on Tuesday, January 28th. Melius Research reiterated a “hold” rating and set a $398.00 price objective on shares of Trane Technologies in a research note on Tuesday, January 28th. Finally, Royal Bank of Canada lifted their price target on Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a research report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Trane Technologies presently has a consensus rating of “Hold” and an average price target of $405.31.

Trane Technologies Trading Up 0.4 %

NYSE:TT opened at $347.21 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The stock has a fifty day simple moving average of $346.92 and a 200-day simple moving average of $376.13. Trane Technologies plc has a 52-week low of $286.32 and a 52-week high of $422.00. The company has a market capitalization of $77.88 billion, a PE ratio of 30.86, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08.

Trane Technologies (NYSE:TT) last announced 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%. On average, equities research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be issued a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.08%. Trane Technologies’s payout ratio is 33.42%.

Insider Buying and Selling

In other news, CEO David S. Regnery sold 2,754 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total value 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 $47,515,142.46. This represents a 2.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 value of $70,806.78. Following the transaction, the senior vice president now owns 13,401 shares in the company, valued at approximately $4,792,331.61. This represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,234 shares of company stock valued at $2,588,102. 0.38% of the stock is currently owned by company insiders.

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.