Rafferty Asset Management LLC Purchases 2,087 Shares of Trane Technologies plc (NYSE:TT)

Rafferty Asset Management LLC grew its position in Trane Technologies plc (NYSE:TT) by 11.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,011 shares of the company’s stock after purchasing an additional 2,087 shares during the quarter. Rafferty Asset Management LLC’s holdings in Trane Technologies were worth $7,760,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of TT. Ameritas Advisory Services LLC bought a new position in shares of Trane Technologies during the fourth quarter worth $468,000. HB Wealth Management LLC raised its stake in Trane Technologies by 14.3% during the fourth quarter. HB Wealth Management LLC now owns 5,689 shares of the company’s stock valued at $2,101,000 after purchasing an additional 711 shares in the last quarter. Crossmark Global Holdings Inc. raised its stake in Trane Technologies by 31.2% during the fourth quarter. Crossmark Global Holdings Inc. now owns 29,057 shares of the company’s stock valued at $10,733,000 after purchasing an additional 6,910 shares in the last quarter. Stonegate Investment Group LLC raised its stake in Trane Technologies by 11.9% during the fourth quarter. Stonegate Investment Group LLC now owns 15,378 shares of the company’s stock valued at $5,680,000 after purchasing an additional 1,633 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC raised its stake in Trane Technologies by 1,490.3% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 19,417 shares of the company’s stock valued at $7,172,000 after purchasing an additional 18,196 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Insider Transactions at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total value of $1,356,980.00. Following the completion of the transaction, the insider now owns 3,593 shares in the company, valued at approximately $1,365,340. This represents a 49.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TT. Barclays reduced their target price on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. Royal Bank of Canada increased their target price on shares of Trane Technologies from $363.00 to $408.00 and gave the company a “sector perform” rating in a research note on Thursday, May 1st. Robert W. Baird increased their target price on shares of Trane Technologies from $360.00 to $396.00 and gave the company a “neutral” rating in a research note on Thursday, May 1st. UBS Group reduced their target price on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Finally, Citigroup raised their price target on shares of Trane Technologies from $415.00 to $445.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $425.47.

Trane Technologies Stock Up 1.6%

TT stock opened at $429.20 on Friday. The company’s 50 day moving average price is $358.06 and its 200 day moving average price is $373.43. 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 plc has a fifty-two week low of $298.15 and a fifty-two week high of $429.40. The firm has a market capitalization of $95.72 billion, a price-to-earnings ratio of 38.15, a PEG ratio of 2.50 and a beta of 1.14.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $0.25. The firm had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.46 billion. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.94 earnings per share. On average, equities research analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Friday, June 6th. Trane Technologies’s dividend payout ratio (DPR) is presently 31.28%.

Trane Technologies Company 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.