Trane Technologies plc (NYSE:TT) Shares Bought by PGGM Investments

PGGM Investments lifted its holdings in shares of Trane Technologies plc (NYSE:TT) by 9.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 61,033 shares of the company’s stock after purchasing an additional 5,437 shares during the quarter. PGGM Investments’ holdings in Trane Technologies were worth $22,543,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in TT. MidAtlantic Capital Management Inc. acquired a new position in Trane Technologies during the third quarter worth approximately $27,000. Global Wealth Strategies & Associates acquired a new stake in shares of Trane Technologies during the 4th quarter worth $26,000. Sound Income Strategies LLC raised its position in shares of Trane Technologies by 1,314.3% in the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock worth $37,000 after buying an additional 92 shares during the period. Golden State Wealth Management LLC purchased a new stake in Trane Technologies during the fourth quarter valued at about $39,000. Finally, Legacy Investment Solutions LLC acquired a new stake in Trane Technologies during the third quarter worth about $44,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Up 1.7 %

Shares of Trane Technologies stock opened at $339.72 on Thursday. Trane Technologies plc has a twelve month low of $285.62 and a twelve month high of $422.00. The stock has a market capitalization of $76.20 billion, a price-to-earnings ratio of 30.20, a PEG ratio of 2.50 and a beta of 1.08. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The business’s 50 day simple moving average is $366.02 and its 200-day simple moving average is $380.11.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share 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%. Equities research analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.11%. 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. Trane Technologies’s dividend payout ratio is 33.42%.

Wall Street Analysts Forecast Growth

TT has been the topic of several research analyst reports. 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 research note on Friday, January 31st. Melius Research reissued a “hold” rating and set a $398.00 price target on shares of Trane Technologies in a research report on Tuesday, January 28th. Melius downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective for the company. in a research report on Tuesday, January 28th. Wells Fargo & Company cut their price objective on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. Finally, Citigroup cut their target price on Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Trane Technologies has a consensus rating of “Hold” and a consensus target price of $413.69.

Insider Activity

In other Trane Technologies news, SVP Evan M. Turtz sold 318 shares of Trane Technologies stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $358.12, for a total value of $113,882.16. Following the transaction, the senior vice president now owns 20,513 shares in the company, valued at approximately $7,346,115.56. The trade was a 1.53 % decrease in their ownership of the stock. The transaction was disclosed in a 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 shares were sold at an average price of $357.61, for a total value of $70,806.78. Following the completion of the transaction, the senior vice president now directly owns 13,401 shares in the company, valued at $4,792,331.61. This represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,234 shares of company stock worth $2,588,102 over the last 90 days. 0.38% of the stock is currently owned by company insiders.

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.