First Horizon Advisors Inc. Grows Stock Position in Trane Technologies plc (NYSE:TT)

First Horizon Advisors Inc. boosted its stake in shares of Trane Technologies plc (NYSE:TT) by 2.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,064 shares of the company’s stock after purchasing an additional 101 shares during the quarter. First Horizon Advisors Inc.’s holdings in Trane Technologies were worth $1,501,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of TT. Swedbank AB lifted its position in shares of Trane Technologies by 2.8% during the 3rd quarter. Swedbank AB now owns 743,794 shares of the company’s stock worth $289,135,000 after purchasing an additional 20,400 shares during the last quarter. Private Advisor Group LLC increased its holdings in Trane Technologies by 13.9% in the third quarter. Private Advisor Group LLC now owns 8,553 shares of the company’s stock valued at $3,325,000 after buying an additional 1,043 shares during the last quarter. Ballentine Partners LLC raised its stake in Trane Technologies by 12.9% in the third quarter. Ballentine Partners LLC now owns 2,648 shares of the company’s stock valued at $1,029,000 after buying an additional 302 shares in the last quarter. Highland Capital Management LLC purchased a new stake in Trane Technologies during the 3rd quarter worth about $1,321,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Trane Technologies by 42.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,324 shares of the company’s stock worth $9,339,000 after acquiring an additional 7,194 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Transactions at Trane Technologies

In other Trane Technologies news, CFO Christopher J. Kuehn sold 770 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $358.39, for a total value of $275,960.30. Following the sale, the chief financial officer now directly owns 62,221 shares of the company’s stock, valued at approximately $22,299,384.19. This trade represents a 1.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Mairead Magner sold 4,329 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the transaction, the senior vice president now directly owns 12,893 shares of the company’s stock, valued at $5,363,488. This trade represents a 25.14 % decrease in their position. 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 over the last three months. 0.38% of the stock is currently owned by insiders.

Trane Technologies Trading Down 3.3 %

NYSE:TT opened at $354.56 on Monday. The stock has a market capitalization of $79.52 billion, a price-to-earnings ratio of 31.52, a PEG ratio of 2.50 and a beta of 1.05. Trane Technologies plc has a 1 year low of $279.00 and a 1 year high of $422.00. The stock has a fifty day moving average price of $374.82 and a two-hundred day moving average price of $380.23. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21.

Trane Technologies (NYSE:TT) last announced its quarterly 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%. As a group, sell-side analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The business also recently disclosed 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 is an increase from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 annualized dividend and a dividend yield of 1.06%. The ex-dividend date is Friday, March 7th. Trane Technologies’s payout ratio is currently 29.87%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. UBS Group decreased their target price on Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Melius Research restated a “hold” rating and set a $398.00 price objective on shares of Trane Technologies in a research report on Tuesday, January 28th. Northcoast Research assumed coverage on shares of Trane Technologies in a report on Friday, November 22nd. They issued a “buy” rating and a $500.00 target price for the company. Citigroup cut their price target on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Finally, Wells Fargo & Company reduced their price objective on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a research note on Friday, January 31st. One 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’s stock. According to MarketBeat.com, Trane Technologies presently has a consensus rating of “Hold” and a consensus price target of $415.25.

Trane Technologies 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.