Firetrail Investments PTY Ltd. Grows Stock Holdings in Trane Technologies plc (NYSE:TT)

Firetrail Investments PTY Ltd. lifted its position in shares of Trane Technologies plc (NYSE:TT) by 17.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 32,420 shares of the company’s stock after buying an additional 4,824 shares during the quarter. Trane Technologies makes up 3.6% of Firetrail Investments PTY Ltd.’s holdings, making the stock its 13th largest holding. Firetrail Investments PTY Ltd.’s holdings in Trane Technologies were worth $12,018,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of TT. Swedbank AB lifted its stake in shares of Trane Technologies by 2.8% during the 3rd quarter. Swedbank AB now owns 743,794 shares of the company’s stock valued at $289,135,000 after buying an additional 20,400 shares in the last quarter. US Bancorp DE increased its holdings in Trane Technologies by 4.8% in the 3rd quarter. US Bancorp DE now owns 73,943 shares of the company’s stock valued at $28,744,000 after acquiring an additional 3,392 shares during the last quarter. Gladstone Institutional Advisory LLC bought a new stake in Trane Technologies in the 3rd quarter valued at $632,000. Farther Finance Advisors LLC increased its holdings in Trane Technologies by 34.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,716 shares of the company’s stock valued at $1,056,000 after acquiring an additional 689 shares during the last quarter. Finally, Phillips Wealth Planners LLC increased its holdings in Trane Technologies by 3.1% in the 3rd quarter. Phillips Wealth Planners LLC now owns 1,612 shares of the company’s stock valued at $637,000 after acquiring an additional 49 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, CFO Christopher J. Kuehn sold 876 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were 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. The trade was a 1.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Mairead Magner sold 4,329 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $5,363,488. This trade represents a 25.14 % 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 three months. Company insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on TT. Citigroup reduced their price target on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Melius Research reiterated a “hold” rating and issued a $398.00 price target on shares of Trane Technologies in a 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 target on the stock. in a report on Tuesday, January 28th. JPMorgan Chase & Co. boosted their target price 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. Finally, UBS Group reduced their target price on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $415.25.

Trane Technologies Stock Performance

Shares of NYSE:TT opened at $354.22 on Friday. The company has a market capitalization of $79.45 billion, a price-to-earnings ratio of 31.49, 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. The firm’s 50-day moving average is $371.26 and its 200 day moving average is $380.45. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Thursday, January 30th. The company reported $2.61 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%. Research analysts predict that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The business also recently disclosed 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 annualized dividend and a yield of 1.06%. 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 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.