Cape Investment Advisory Inc. Invests $106,000 in Trane Technologies plc (NYSE:TT)

Cape Investment Advisory Inc. purchased a new position in Trane Technologies plc (NYSE:TT) in the 4th quarter, Holdings Channel reports. The firm purchased 288 shares of the company’s stock, valued at approximately $106,000.

Several other hedge funds have also recently modified their holdings of TT. Massachusetts Financial Services Co. MA increased its position in Trane Technologies by 35.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock valued at $991,460,000 after acquiring an additional 671,691 shares during the last quarter. FMR LLC increased its position in Trane Technologies by 4.0% during the third quarter. FMR LLC now owns 10,337,672 shares of the company’s stock valued at $4,018,563,000 after acquiring an additional 397,537 shares during the last quarter. Nordea Investment Management AB increased its position in Trane Technologies by 42.9% during the fourth quarter. Nordea Investment Management AB now owns 978,275 shares of the company’s stock valued at $361,874,000 after acquiring an additional 293,916 shares during the last quarter. Proficio Capital Partners LLC increased its position in Trane Technologies by 47,293.6% during the fourth quarter. Proficio Capital Partners LLC now owns 253,082 shares of the company’s stock valued at $93,476,000 after acquiring an additional 252,548 shares during the last quarter. Finally, AustralianSuper Pty Ltd increased its position in Trane Technologies by 470.9% during the fourth quarter. AustralianSuper Pty Ltd now owns 179,794 shares of the company’s stock valued at $66,407,000 after acquiring an additional 148,302 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling

In other Trane Technologies news, SVP Evan M. Turtz sold 318 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $358.12, for a total transaction of $113,882.16. Following the sale, the senior vice president now directly owns 20,513 shares in the company, valued at $7,346,115.56. This represents a 1.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO David S. Regnery sold 2,318 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $358.17, for a total value of $830,238.06. Following the sale, the chief executive officer now owns 126,831 shares in the company, valued at approximately $45,427,059.27. This trade represents a 1.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,563 shares of company stock worth $4,388,966. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Stock Performance

NYSE TT opened at $354.22 on Monday. 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 firm has a market cap of $79.45 billion, a price-to-earnings ratio of 31.49, a price-to-earnings-growth ratio of 2.50 and a beta of 1.05. Trane Technologies plc has a twelve month low of $279.00 and a twelve month high of $422.00. The business has a 50-day moving average price of $371.26 and a 200-day moving average price of $380.69.

Trane Technologies (NYSE:TT) last posted its earnings results on Thursday, January 30th. The company reported $2.61 EPS for the quarter, topping analysts’ consensus estimates 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 Increases Dividend

The company 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 $0.94 dividend. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies’s payout ratio is currently 29.87%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TT. 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 report on Friday, January 31st. Melius cut Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective for the company. in a research report on Tuesday, January 28th. Northcoast Research began coverage on Trane Technologies in a report on Friday, November 22nd. They set a “buy” rating and a $500.00 price target for the company. Melius Research reissued a “hold” rating and set a $398.00 price target on shares of Trane Technologies in a report on Tuesday, January 28th. Finally, Royal Bank of Canada boosted their price target on Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a report on Friday, January 3rd. One equities 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 currently has a consensus rating of “Hold” and an average price target 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.