Trane Technologies plc (NYSE:TT) is Fruth Investment Management’s 8th Largest Position

Fruth Investment Management trimmed its position in shares of Trane Technologies plc (NYSE:TT) by 0.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 21,015 shares of the company’s stock after selling 30 shares during the quarter. Trane Technologies makes up 2.1% of Fruth Investment Management’s portfolio, making the stock its 8th biggest holding. Fruth Investment Management’s holdings in Trane Technologies were worth $7,761,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Global Wealth Strategies & Associates acquired a new stake in Trane Technologies during the 4th quarter valued at $26,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Trane Technologies during the third quarter valued at $27,000. DT Investment Partners LLC purchased a new stake in Trane Technologies during the 3rd quarter worth about $36,000. Sound Income Strategies LLC raised its stake in Trane Technologies by 1,314.3% in the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after purchasing an additional 92 shares during the last quarter. Finally, Pittenger & Anderson Inc. purchased a new position in Trane Technologies in the 3rd quarter valued at about $39,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on TT shares. Citigroup dropped their price target 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. UBS Group cut their target price on Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. JPMorgan Chase & Co. boosted their price target on Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Melius Research restated a “hold” rating and issued a $398.00 price objective on shares of Trane Technologies in a report on Tuesday, January 28th. Finally, 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 report on Friday, January 3rd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $415.25.

Insider Buying and Selling at Trane Technologies

In other news, SVP Mairead Magner sold 4,329 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total value of $1,800,864.00. Following the sale, the senior vice president now owns 12,893 shares of the company’s stock, valued at approximately $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 accessible through this link. 0.38% of the stock is owned by corporate insiders.

Trane Technologies Price Performance

TT opened at $357.47 on Thursday. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The company’s 50-day moving average price is $386.03 and its 200 day moving average price is $377.10. Trane Technologies plc has a fifty-two week low of $265.37 and a fifty-two week high of $422.00. The firm has a market cap of $80.44 billion, a price-to-earnings ratio of 31.78, a price-to-earnings-growth ratio of 2.18 and a beta of 1.05.

Trane Technologies (NYSE:TT) last issued its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, topping the consensus estimate 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, sell-side analysts expect that Trane Technologies plc will post 12.79 earnings per share for the current year.

Trane Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.05%. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s dividend payout ratio is presently 29.87%.

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.