Trane Technologies plc (NYSE:TT) Position Increased by PAX Financial Group LLC

PAX Financial Group LLC increased its stake in shares of Trane Technologies plc (NYSE:TT) by 17.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 858 shares of the company’s stock after buying an additional 127 shares during the quarter. PAX Financial Group LLC’s holdings in Trane Technologies were worth $317,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Tidal Investments LLC grew its holdings in Trane Technologies by 22.2% in the 3rd quarter. Tidal Investments LLC now owns 15,827 shares of the company’s stock worth $6,152,000 after buying an additional 2,874 shares in the last quarter. Synovus Financial Corp grew its stake in shares of Trane Technologies by 16.8% in the third quarter. Synovus Financial Corp now owns 8,828 shares of the company’s stock worth $3,431,000 after purchasing an additional 1,271 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of Trane Technologies during the fourth quarter valued at $468,000. HB Wealth Management LLC raised its stake in shares of Trane Technologies by 14.3% during the fourth quarter. HB Wealth Management LLC now owns 5,689 shares of the company’s stock valued at $2,101,000 after purchasing an additional 711 shares in the last quarter. Finally, Crossmark Global Holdings Inc. lifted its holdings in Trane Technologies by 31.2% in the fourth quarter. Crossmark Global Holdings Inc. now owns 29,057 shares of the company’s stock worth $10,733,000 after purchasing an additional 6,910 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, 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 transaction of $70,806.78. Following the completion of the sale, the senior vice president now directly owns 13,401 shares of the company’s stock, valued at approximately $4,792,331.61. This represents a 1.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Christopher J. Kuehn sold 770 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $358.39, for a total transaction of $275,960.30. Following the completion of the transaction, the chief financial officer now owns 62,221 shares in the company, valued at $22,299,384.19. The trade was a 1.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,234 shares of company stock valued at $2,588,102 over the last 90 days. 0.38% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

TT has been the topic of a number of recent analyst reports. Melius Research restated a “hold” rating and set a $398.00 price target on shares of Trane Technologies in a research report on Tuesday, January 28th. Royal Bank of Canada upped their target price on Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research report on Friday, January 3rd. Melius downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective on the stock. in a research note on Tuesday, January 28th. Barclays cut their price objective on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a report on Monday, March 10th. Finally, UBS Group dropped their price target on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Trane Technologies currently has an average rating of “Hold” and a consensus target price of $413.69.

Trane Technologies Price Performance

NYSE TT opened at $318.18 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $71.36 billion, a PE ratio of 28.28, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a 12-month low of $286.32 and a 12-month high of $422.00. The company has a 50 day moving average price of $351.63 and a two-hundred day moving average price of $378.92.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share (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%. As a group, equities analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be issued a $0.94 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.76 annualized dividend and a yield of 1.18%. Trane Technologies’s dividend payout ratio (DPR) is currently 33.42%.

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.