Private Wealth Partners LLC Acquires New Position in Trane Technologies plc (NYSE:TT)

Private Wealth Partners LLC acquired a new stake in shares of Trane Technologies plc (NYSE:TT) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 655 shares of the company’s stock, valued at approximately $242,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Private Advisor Group LLC increased its position in Trane Technologies by 20.9% during the fourth quarter. Private Advisor Group LLC now owns 10,342 shares of the company’s stock worth $3,820,000 after purchasing an additional 1,789 shares during the last quarter. Bryn Mawr Capital Management LLC increased its position in shares of Trane Technologies by 733.8% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 8,280 shares of the company’s stock worth $3,058,000 after acquiring an additional 7,287 shares in the last quarter. TKG Advisors LLC increased its position in shares of Trane Technologies by 5.3% in the fourth quarter. TKG Advisors LLC now owns 13,703 shares of the company’s stock worth $5,493,000 after acquiring an additional 685 shares in the last quarter. Global Retirement Partners LLC increased its position in shares of Trane Technologies by 7.7% in the fourth quarter. Global Retirement Partners LLC now owns 1,856 shares of the company’s stock worth $686,000 after acquiring an additional 133 shares in the last quarter. Finally, New York State Common Retirement Fund increased its position in shares of Trane Technologies by 1.2% in the fourth quarter. New York State Common Retirement Fund now owns 365,429 shares of the company’s stock worth $134,971,000 after acquiring an additional 4,443 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Trading Down 1.0 %

NYSE TT opened at $366.74 on Friday. Trane Technologies plc has a 12 month low of $274.77 and a 12 month high of $422.00. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. The company has a market capitalization of $82.26 billion, a price-to-earnings ratio of 32.60, a price-to-earnings-growth ratio of 2.48 and a beta of 1.05. The company’s fifty day moving average price is $375.72 and its two-hundred day moving average price is $379.16.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Thursday, January 30th. The company reported $2.61 EPS for the quarter, beating analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. As a group, research analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be given a $0.94 dividend. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies’s dividend payout ratio (DPR) is presently 29.87%.

Insider Transactions at Trane Technologies

In other news, SVP Mairead Magner sold 198 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total value of $70,806.78. Following the transaction, the senior vice president now directly owns 13,401 shares in the company, valued at approximately $4,792,331.61. This trade represents a 1.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Christopher J. Kuehn sold 770 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $358.39, for a total transaction of $275,960.30. Following the completion of the transaction, the chief financial officer now owns 62,221 shares in the company, valued at approximately $22,299,384.19. The trade was a 1.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,563 shares of company stock worth $4,388,966. 0.38% of the stock is currently owned by insiders.

Analyst Ratings Changes

TT has been the subject of several recent research reports. Wells Fargo & Company dropped their price objective on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a research report on Friday, January 31st. Citigroup dropped their price objective on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a research report on Monday, January 13th. JPMorgan Chase & Co. increased their price objective on shares of Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Melius Research restated a “hold” rating and issued a $398.00 target price on shares of Trane Technologies in a research note on Tuesday, January 28th. Finally, Hsbc Global Res downgraded shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $415.25.

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.