Blueshift Asset Management LLC Makes New Investment in Trane Technologies plc (NYSE:TT)

Blueshift Asset Management LLC bought a new stake in Trane Technologies plc (NYSE:TT) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 730 shares of the company’s stock, valued at approximately $270,000.

Several other hedge funds have also made changes to their positions in the business. Global Wealth Strategies & Associates purchased a new position in Trane Technologies during the 4th quarter worth $26,000. Sound Income Strategies LLC increased its stake in shares of Trane Technologies by 1,314.3% during the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock worth $37,000 after acquiring an additional 92 shares during the period. Flagship Wealth Advisors LLC purchased a new position in Trane Technologies during the fourth quarter worth about $37,000. Golden State Wealth Management LLC purchased a new stake in Trane Technologies in the 4th quarter valued at approximately $39,000. Finally, Legacy Investment Solutions LLC acquired a new position in Trane Technologies during the 3rd quarter worth approximately $44,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TT. Citigroup dropped their price objective on Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a report on Monday, January 13th. UBS Group cut their price target on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a report on Friday, January 31st. Royal Bank of Canada boosted their price objective 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. Northcoast Research started coverage on shares of Trane Technologies in a report on Friday, November 22nd. They issued a “buy” rating and a $500.00 target price for the company. Finally, Wells Fargo & Company decreased 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. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Trane Technologies has an average rating of “Hold” and an average target price of $413.69.

Trane Technologies Stock Down 0.6 %

TT stock opened at $347.30 on Friday. Trane Technologies plc has a one year low of $286.32 and a one year high of $422.00. The stock has a market capitalization of $77.90 billion, a P/E ratio of 30.87, a PEG ratio of 2.50 and a beta of 1.08. The company has a 50 day moving average price of $361.24 and a two-hundred day moving average price of $379.52. 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 (NYSE:TT) last released its earnings results on Thursday, January 30th. The company reported $2.61 EPS for the quarter, beating the consensus estimate of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. As a group, sell-side analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be issued 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 1.08%. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s dividend payout ratio (DPR) is presently 33.42%.

Insider Transactions at Trane Technologies

In other news, SVP Evan M. Turtz sold 318 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $358.12, for a total value of $113,882.16. Following the completion of the sale, the senior vice president now owns 20,513 shares in the company, valued at approximately $7,346,115.56. This trade represents a 1.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Mairead Magner sold 198 shares of Trane Technologies stock in a transaction that occurred 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 sale, the senior vice president now owns 13,401 shares in the company, valued at $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 quarter, insiders sold 7,234 shares of company stock worth $2,588,102. 0.38% of the stock is currently owned by company insiders.

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.