Zacks Investment Management Acquires 1,470 Shares of Trane Technologies plc (NYSE:TT)

Zacks Investment Management boosted its stake in shares of Trane Technologies plc (NYSE:TT) by 2.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 54,324 shares of the company’s stock after buying an additional 1,470 shares during the quarter. Zacks Investment Management’s holdings in Trane Technologies were worth $20,065,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of TT. World Investment Advisors LLC lifted its stake in shares of Trane Technologies by 5,253.1% during the 3rd quarter. World Investment Advisors LLC now owns 34,581 shares of the company’s stock valued at $13,443,000 after buying an additional 33,935 shares in the last quarter. Sfmg LLC boosted its stake in shares of Trane Technologies by 1.5% in the third quarter. Sfmg LLC now owns 2,441 shares of the company’s stock worth $949,000 after acquiring an additional 36 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Trane Technologies during the third quarter worth about $3,916,000. Tidal Investments LLC lifted its holdings in Trane Technologies by 22.2% in the 3rd quarter. Tidal Investments LLC now owns 15,827 shares of the company’s stock worth $6,152,000 after purchasing an additional 2,874 shares in the last quarter. Finally, Synovus Financial Corp boosted its stake in Trane Technologies by 16.8% in the 3rd quarter. Synovus Financial Corp now owns 8,828 shares of the company’s stock worth $3,431,000 after purchasing an additional 1,271 shares during the period. Institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on TT shares. Barclays cut their target price on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. Royal Bank of Canada boosted their target price on Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research report on Friday, January 3rd. Melius cut Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price target for the company. in a report on Tuesday, January 28th. Wells Fargo & Company decreased their price objective on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. Finally, Melius Research reissued a “hold” rating and issued a $398.00 target price on shares of Trane Technologies in a report on Tuesday, January 28th. 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 stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $405.31.

Insiders Place Their Bets

In other news, SVP Evan M. Turtz sold 318 shares of Trane Technologies stock in a transaction on Monday, February 10th. The stock was 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 in the company, valued at approximately $7,346,115.56. This trade represents a 1.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Mairead Magner sold 198 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total value of $70,806.78. Following the sale, the senior vice president now owns 13,401 shares of the company’s stock, valued at $4,792,331.61. This trade represents a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, 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 Stock Performance

TT stock opened at $330.39 on Thursday. Trane Technologies plc has a twelve month low of $286.32 and a twelve month high of $422.00. The firm has a market cap of $74.10 billion, a price-to-earnings ratio of 29.37, a PEG ratio of 2.50 and a beta of 1.08. The business’s fifty day simple moving average is $346.14 and its two-hundred day simple moving average is $375.59. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58.

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

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend is Friday, June 6th. Trane Technologies’s dividend payout ratio (DPR) is presently 33.42%.

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.