Hartford Investment Management Co. Has $5.15 Million Position in Trane Technologies plc (NYSE:TT)

Hartford Investment Management Co. lowered its holdings in Trane Technologies plc (NYSE:TT) by 1.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 13,932 shares of the company’s stock after selling 269 shares during the quarter. Hartford Investment Management Co.’s holdings in Trane Technologies were worth $5,146,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Gladstone Institutional Advisory LLC grew its position in Trane Technologies by 219.0% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 5,183 shares of the company’s stock valued at $1,914,000 after purchasing an additional 3,558 shares during the period. Certuity LLC grew its position in Trane Technologies by 67.0% in the 4th quarter. Certuity LLC now owns 940 shares of the company’s stock valued at $347,000 after purchasing an additional 377 shares during the period. Sage Private Wealth Group LLC grew its position in Trane Technologies by 13.1% in the 4th quarter. Sage Private Wealth Group LLC now owns 822 shares of the company’s stock valued at $304,000 after purchasing an additional 95 shares during the period. Community Bank & Trust Waco Texas lifted its stake in Trane Technologies by 3.8% during the 4th quarter. Community Bank & Trust Waco Texas now owns 1,843 shares of the company’s stock valued at $681,000 after acquiring an additional 68 shares in the last quarter. Finally, Sovran Advisors LLC bought a new position in Trane Technologies during the 4th quarter valued at $201,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of Trane Technologies stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the completion of the transaction, the senior vice president now owns 12,893 shares of the company’s stock, valued at $5,363,488. The trade was a 25.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Evan M. Turtz sold 318 shares of Trane Technologies stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $358.12, for a total value of $113,882.16. Following the transaction, the senior vice president now directly owns 20,513 shares of the company’s stock, valued at $7,346,115.56. The trade was a 1.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,563 shares of company stock valued at $4,388,966 in the last quarter. 0.38% of the stock is currently owned by corporate insiders.

Trane Technologies Trading Up 1.1 %

Shares of Trane Technologies stock opened at $364.55 on Wednesday. Trane Technologies plc has a 52-week low of $265.37 and a 52-week high of $422.00. The stock’s 50-day simple moving average is $382.56 and its 200 day simple moving average is $377.89. The stock has a market capitalization of $82.03 billion, a P/E ratio of 32.40, a P/E/G ratio of 2.44 and a beta of 1.05. 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 announced its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, beating 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%. As a group, research analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s payout ratio is presently 29.87%.

Analysts Set New Price Targets

Several brokerages have weighed in on TT. Barclays raised their price objective on Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Mizuho raised their price objective on Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. 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 Research restated a “hold” rating and set a $398.00 price objective on shares of Trane Technologies in a research note on Tuesday, January 28th. Finally, Hsbc Global Res cut Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. One investment 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average 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.