Raymond James Financial Inc. Takes $611.32 Million Position in Trane Technologies plc (NYSE:TT)

Raymond James Financial Inc. acquired a new stake in shares of Trane Technologies plc (NYSE:TT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,655,127 shares of the company’s stock, valued at approximately $611,322,000.

A number of other hedge funds have also made changes to their positions in TT. Swedbank AB increased its holdings 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 acquiring an additional 20,400 shares during the last quarter. Pittenger & Anderson Inc. acquired a new position in shares of Trane Technologies during the 3rd quarter valued at about $39,000. Catalina Capital Group LLC grew its holdings in Trane Technologies by 10.9% in the 3rd quarter. Catalina Capital Group LLC now owns 895 shares of the company’s stock valued at $348,000 after buying an additional 88 shares during the last quarter. Concurrent Investment Advisors LLC grew its holdings in Trane Technologies by 7.9% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 9,114 shares of the company’s stock valued at $3,543,000 after buying an additional 668 shares during the last quarter. Finally, Consilium Wealth Advisory LLC grew its holdings in Trane Technologies by 296.2% in the 3rd quarter. Consilium Wealth Advisory LLC now owns 6,315 shares of the company’s stock valued at $2,455,000 after buying an additional 4,721 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Price Performance

Trane Technologies stock opened at $348.78 on Thursday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. The company has a market capitalization of $78.23 billion, a PE ratio of 31.00, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a one year low of $279.00 and a one year high of $422.00. The business has a 50 day simple moving average of $369.25 and a 200 day simple moving average of $380.46.

Trane Technologies (NYSE:TT) last posted its earnings results on Thursday, January 30th. The company reported $2.61 EPS for the quarter, topping the consensus estimate of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. On average, sell-side analysts forecast that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.08%. 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. Trane Technologies’s dividend payout ratio (DPR) is 29.87%.

Insider Buying and Selling

In other Trane Technologies news, CFO Christopher J. Kuehn sold 770 shares of Trane Technologies stock in a transaction on Monday, February 10th. The stock was sold at an average price of $358.39, for a total value of $275,960.30. Following the completion of the transaction, the chief financial officer now owns 62,221 shares in the company, valued at approximately $22,299,384.19. The trade was a 1.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Mairead Magner sold 198 shares of Trane Technologies 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 owns 13,401 shares of the company’s stock, valued at approximately $4,792,331.61. The trade was a 1.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,234 shares of company stock worth $2,588,102 in the last 90 days. 0.38% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have issued reports on TT shares. Barclays raised their target price on Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. 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. JPMorgan Chase & Co. raised their target price on Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Royal Bank of Canada raised their target price on Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a report on Friday, January 3rd. Finally, Citigroup lowered their target price on Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $415.25.

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.