TFC Financial Management Inc. Boosts Stake in Trane Technologies plc (NYSE:TT)

TFC Financial Management Inc. raised its position in Trane Technologies plc (NYSE:TT) by 13.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 277 shares of the company’s stock after buying an additional 32 shares during the period. TFC Financial Management Inc.’s holdings in Trane Technologies were worth $102,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of TT. Ritholtz Wealth Management grew its stake in Trane Technologies by 12.5% in the 3rd quarter. Ritholtz Wealth Management now owns 1,226 shares of the company’s stock valued at $477,000 after buying an additional 136 shares in the last quarter. Procyon Advisors LLC grew its stake in Trane Technologies by 4.0% in the 3rd quarter. Procyon Advisors LLC now owns 927 shares of the company’s stock valued at $360,000 after buying an additional 36 shares in the last quarter. Creative Planning grew its stake in Trane Technologies by 5.8% in the 3rd quarter. Creative Planning now owns 62,756 shares of the company’s stock valued at $24,395,000 after buying an additional 3,446 shares in the last quarter. Swedbank AB boosted its holdings in Trane Technologies by 2.8% in the 3rd quarter. Swedbank AB now owns 743,794 shares of the company’s stock valued at $289,135,000 after purchasing an additional 20,400 shares during the period. Finally, Braun Bostich & Associates Inc. bought a new position in Trane Technologies in the 3rd quarter valued at $208,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on TT. Northcoast Research began coverage on shares of Trane Technologies in a report on Friday, November 22nd. They issued a “buy” rating and a $500.00 price target for the company. 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 report on Monday, January 13th. JPMorgan Chase & Co. lifted their price objective on shares of Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Hsbc Global Res downgraded shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Finally, Robert W. Baird dropped their price objective on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a report 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. According to MarketBeat.com, Trane Technologies has an average rating of “Hold” and a consensus price target of $415.25.

Insider Activity at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 2,754 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total transaction of $984,114.36. Following the completion of the sale, the chief executive officer now directly owns 132,969 shares of the company’s stock, valued at approximately $47,515,142.46. This represents a 2.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Mairead Magner sold 198 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total transaction of $70,806.78. Following the completion of the sale, the senior vice president now directly owns 13,401 shares of the company’s stock, valued at approximately $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. Insiders have sold a total of 11,563 shares of company stock worth $4,388,966 over the last quarter. Company insiders own 0.38% of the company’s stock.

Trane Technologies Price Performance

Shares of NYSE TT opened at $361.80 on Thursday. Trane Technologies plc has a 1 year low of $265.37 and a 1 year 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’s 50-day moving average is $381.60 and its 200 day moving average is $378.14. The stock has a market capitalization of $81.41 billion, a P/E ratio of 32.16, a P/E/G ratio of 2.44 and a beta of 1.05.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results 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%. On average, sell-side analysts expect that Trane Technologies plc will post 12.83 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 given a dividend of $0.94 per share. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.76 dividend on an annualized basis and a yield of 1.04%. Trane Technologies’s dividend payout ratio is 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.