Ethic Inc. Has $9.19 Million Holdings in Trane Technologies plc (NYSE:TT)

Ethic Inc. increased its holdings in shares of Trane Technologies plc (NYSE:TT) by 150.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 24,883 shares of the company’s stock after acquiring an additional 14,932 shares during the period. Ethic Inc.’s holdings in Trane Technologies were worth $9,190,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Sound Income Strategies LLC boosted its stake in shares of Trane Technologies by 1,314.3% during the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock worth $37,000 after buying an additional 92 shares during the last quarter. Flagship Wealth Advisors LLC acquired a new stake in shares of Trane Technologies in the fourth quarter valued at about $37,000. Golden State Wealth Management LLC bought a new stake in Trane Technologies during the fourth quarter worth about $39,000. BankPlus Trust Department acquired a new position in Trane Technologies during the fourth quarter valued at approximately $45,000. Finally, Centricity Wealth Management LLC bought a new position in Trane Technologies in the fourth quarter valued at approximately $55,000. Institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. UBS Group dropped their price objective on Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. 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 research report on Tuesday, January 28th. Royal Bank of Canada lifted their price objective on shares of Trane Technologies from $363.00 to $408.00 and gave the company a “sector perform” rating in a research report on Thursday, May 1st. Robert W. Baird upped their target price on shares of Trane Technologies from $360.00 to $396.00 and gave the company a “neutral” rating in a report on Thursday, May 1st. Finally, Stephens upgraded Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 price target for the company in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Trane Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $421.07.

Insider Activity

In related news, SVP Evan M. Turtz sold 318 shares of the business’s 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 transaction, the senior vice president now owns 20,513 shares of the company’s stock, valued at $7,346,115.56. The trade was a 1.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Donald E. Simmons sold 3,571 shares of the stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the sale, the insider now owns 3,593 shares in the company, valued at $1,365,340. The trade was a 49.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,977 shares of company stock worth $2,577,061. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Stock Performance

NYSE:TT opened at $404.32 on Friday. The stock has a 50 day simple moving average of $350.05 and a 200 day simple moving average of $372.45. The stock has a market cap of $90.17 billion, a P/E ratio of 35.94, a PEG ratio of 2.50 and a beta of 1.14. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $422.00. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT) last posted its earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $0.25. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.46 billion. During the same quarter last year, the firm earned $1.94 earnings per share. The company’s revenue was up 11.2% on a year-over-year basis. Research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The firm also recently announced 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 is Friday, June 6th. This represents a $3.76 annualized dividend and a dividend yield of 0.93%. Trane Technologies’s dividend payout ratio is presently 31.28%.

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.