Howard Capital Management Inc. Takes Position in Trane Technologies plc (NYSE:TT)

Howard Capital Management Inc. acquired a new position in shares of Trane Technologies plc (NYSE:TT) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,427 shares of the company’s stock, valued at approximately $527,000.

Other large investors also recently added to or reduced their stakes in the company. Global Wealth Strategies & Associates acquired a new stake in shares of Trane Technologies during the fourth quarter worth $26,000. MidAtlantic Capital Management Inc. bought a new position in Trane Technologies during the third quarter worth about $27,000. Sound Income Strategies LLC grew its position in shares of Trane Technologies by 1,314.3% during 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. Pittenger & Anderson Inc. bought a new stake in shares of Trane Technologies in the 3rd quarter valued at about $39,000. Finally, Golden State Wealth Management LLC bought a new position in Trane Technologies during the 4th quarter worth approximately $39,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on TT shares. Robert W. Baird lowered their target price on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. JPMorgan Chase & Co. raised their price objective on Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Melius lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price on the stock. in a report on Tuesday, January 28th. Wells Fargo & Company lowered their price target on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a report on Friday, January 31st. Finally, Melius Research reiterated a “hold” rating and set a $398.00 price objective on shares of Trane Technologies in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Trane Technologies currently has an average rating of “Hold” and a consensus target price of $415.25.

Insider Transactions at Trane Technologies

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the completion of the sale, the senior vice president now directly owns 12,893 shares in the company, valued at $5,363,488. This trade represents a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 value of $984,114.36. Following the completion of the transaction, the chief executive officer now directly owns 132,969 shares in the company, valued at $47,515,142.46. The trade was a 2.03 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 11,563 shares of company stock worth $4,388,966. 0.38% of the stock is owned by company insiders.

Trane Technologies Stock Performance

NYSE TT opened at $346.49 on Tuesday. The firm has a market capitalization of $77.72 billion, a P/E ratio of 30.80, a price-to-earnings-growth ratio of 2.50 and a beta of 1.05. 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 firm’s fifty day moving average price is $373.78 and its two-hundred day moving average price is $380.36. Trane Technologies plc has a 1 year low of $279.00 and a 1 year high of $422.00.

Trane Technologies (NYSE:TT) last issued its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. As a group, research analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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 dividend yield of 1.09%. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date is Friday, March 7th. Trane Technologies’s dividend payout ratio (DPR) 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.