Steward Partners Investment Advisory LLC Purchases 466 Shares of Trane Technologies plc (NYSE:TT)

Steward Partners Investment Advisory LLC increased its position in Trane Technologies plc (NYSE:TT) by 0.8% in the 4th quarter, Holdings Channel reports. The firm owned 57,374 shares of the company’s stock after buying an additional 466 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Trane Technologies were worth $21,191,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Global Wealth Strategies & Associates bought a new position in shares of Trane Technologies during the fourth quarter valued at $26,000. MidAtlantic Capital Management Inc. bought a new position in shares of Trane Technologies during the third quarter valued at $27,000. Sound Income Strategies LLC lifted its holdings in shares of Trane Technologies by 1,314.3% during the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after acquiring an additional 92 shares during the period. Pittenger & Anderson Inc. bought a new position in shares of Trane Technologies during the third quarter valued at $39,000. Finally, Golden State Wealth Management LLC bought a new position in shares of Trane Technologies during the fourth quarter valued at $39,000. 82.97% of the stock is owned by institutional investors.

Trane Technologies Price Performance

Shares of TT stock opened at $345.30 on Tuesday. The stock has a 50-day moving average price of $370.62 and a 200 day moving average price of $380.68. 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 firm has a market cap of $77.45 billion, a price-to-earnings ratio of 30.69, a PEG ratio of 2.50 and a beta of 1.05. Trane Technologies plc has a 12 month low of $279.00 and a 12 month high of $422.00.

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

Trane Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be paid a $0.94 dividend. The ex-dividend date is Friday, March 7th. This is a boost 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 1.09%. Trane Technologies’s dividend payout ratio is 29.87%.

Insider Activity

In other news, CFO Christopher J. Kuehn sold 876 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total value of $313,099.92. Following the completion of the sale, the chief financial officer now directly owns 63,841 shares of the company’s stock, valued at $22,818,050.22. This represents a 1.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Evan M. Turtz sold 318 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $358.12, for a total value of $113,882.16. Following the completion of the sale, the senior vice president now directly owns 20,513 shares of the company’s stock, valued at approximately $7,346,115.56. This trade represents a 1.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,563 shares of company stock valued at $4,388,966 in the last ninety days. 0.38% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on TT shares. JPMorgan Chase & Co. lifted their price objective on Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Citigroup cut their price objective on Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a report on Monday, January 13th. UBS Group cut their price objective on Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a report on Friday, January 31st. Northcoast Research started coverage on Trane Technologies in a research note on Friday, November 22nd. They issued a “buy” rating and a $500.00 target price for the company. Finally, Wells Fargo & Company lowered their target price on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price 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.