Four Tree Island Advisory LLC Takes Position in Trane Technologies plc (NYSE:TT)

Four Tree Island Advisory LLC purchased a new stake in Trane Technologies plc (NYSE:TT) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 687 shares of the company’s stock, valued at approximately $254,000. Trane Technologies comprises 0.2% of Four Tree Island Advisory LLC’s holdings, making the stock its 23rd biggest holding.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TT. Global Wealth Strategies & Associates acquired a new stake in shares of Trane Technologies in the 4th quarter valued at $26,000. MidAtlantic Capital Management Inc. bought a new position in Trane Technologies in the third quarter valued at about $27,000. DT Investment Partners LLC acquired a new stake in Trane Technologies in the third quarter worth about $36,000. Sound Income Strategies LLC raised its holdings in 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 purchasing an additional 92 shares during the last quarter. Finally, Pittenger & Anderson Inc. acquired a new position in Trane Technologies during the 3rd quarter valued at about $39,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Stock Performance

Shares of TT stock opened at $356.07 on Monday. The company has a market capitalization of $80.12 billion, a P/E ratio of 31.65, a price-to-earnings-growth ratio of 2.44 and a beta of 1.05. Trane Technologies plc has a 52 week low of $265.37 and a 52 week high of $422.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. The company’s 50 day moving average price is $383.65 and its two-hundred day moving average price is $377.31.

Trane Technologies (NYSE:TT) last issued 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 net margin of 12.94% and a return on equity of 35.37%. On average, analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The company 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 dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, March 7th. This is an increase 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 1.06%. Trane Technologies’s dividend payout ratio (DPR) is presently 29.87%.

Analysts Set New Price Targets

TT has been the topic of several analyst reports. Barclays increased their price objective on shares of Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Mizuho increased their price target on Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Citigroup decreased their price objective on Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a research note 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 note on Friday, January 31st. Finally, Royal Bank of Canada raised 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 equities research 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’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $415.25.

Insider Activity at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 876 shares of the firm’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 transaction, the chief financial officer now owns 63,841 shares in the company, valued at $22,818,050.22. This trade represents a 1.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Mairead Magner sold 4,329 shares of Trane Technologies stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total value 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 approximately $5,363,488. This represents a 25.14 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,157 shares of company stock valued at $3,168,885. 0.38% of the stock is owned by 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.