First Trust Advisors LP Purchases 97,543 Shares of Trane Technologies plc (NYSE:TT)

First Trust Advisors LP boosted its holdings in Trane Technologies plc (NYSE:TT) by 80.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 218,934 shares of the company’s stock after acquiring an additional 97,543 shares during the quarter. First Trust Advisors LP’s holdings in Trane Technologies were worth $80,863,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of TT. Tidal Investments LLC increased 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 raised its holdings in shares of Trane Technologies by 16.8% during the third quarter. Synovus Financial Corp now owns 8,828 shares of the company’s stock valued at $3,431,000 after purchasing an additional 1,271 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in Trane Technologies during the fourth quarter valued at approximately $468,000. HB Wealth Management LLC boosted its holdings in Trane Technologies by 14.3% in the fourth quarter. HB Wealth Management LLC now owns 5,689 shares of the company’s stock worth $2,101,000 after purchasing an additional 711 shares during the last quarter. Finally, Crossmark Global Holdings Inc. grew its position in Trane Technologies by 31.2% in the 4th 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. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Performance

NYSE TT opened at $322.29 on Tuesday. The business has a 50-day moving average price of $344.19 and a 200-day moving average price of $374.20. The firm has a market cap of $72.29 billion, a price-to-earnings ratio of 28.65, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a twelve month low of $288.95 and a twelve month high of $422.00. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58.

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

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be issued a $0.94 dividend. The ex-dividend date is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a yield of 1.17%. Trane Technologies’s dividend payout ratio is currently 33.42%.

Insiders Place Their Bets

In other Trane Technologies news, CFO Christopher J. Kuehn sold 876 shares of Trane Technologies stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total value of $313,099.92. Following the sale, the chief financial officer now 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 legal filing with the SEC, which is available through the SEC website. Also, CEO David S. Regnery sold 2,754 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total transaction of $984,114.36. Following the completion of the transaction, the chief executive officer now directly owns 132,969 shares of the company’s stock, valued at approximately $47,515,142.46. This trade represents a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,234 shares of company stock worth $2,588,102 in the last 90 days. 0.38% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

TT has been the topic of a number of research reports. Citigroup dropped their price target on Trane Technologies from $476.00 to $415.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. JPMorgan Chase & Co. cut their price target on Trane Technologies from $396.00 to $323.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. Royal Bank of Canada increased their price objective on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research note on Friday, January 3rd. UBS Group cut their target price on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Finally, 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 research report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $405.31.

Trane Technologies Company Profile

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.