Machina Capital S.A.S. Acquires 3,286 Shares of Trane Technologies plc (NYSE:TT)

Machina Capital S.A.S. grew its position in Trane Technologies plc (NYSE:TT) by 63.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 8,432 shares of the company’s stock after buying an additional 3,286 shares during the period. Trane Technologies makes up approximately 1.3% of Machina Capital S.A.S.’s investment portfolio, making the stock its 2nd largest position. Machina Capital S.A.S.’s holdings in Trane Technologies were worth $3,114,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of TT. Global Wealth Strategies & Associates bought a new position in Trane Technologies in the 4th quarter worth about $26,000. MidAtlantic Capital Management Inc. bought a new position in Trane Technologies in the 3rd quarter worth about $27,000. Sound Income Strategies LLC grew its position in Trane Technologies by 1,314.3% in the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock worth $37,000 after purchasing an additional 92 shares during the last quarter. Golden State Wealth Management LLC bought a new position in Trane Technologies in the 4th quarter worth about $39,000. Finally, Legacy Investment Solutions LLC bought a new position in shares of Trane Technologies in the third quarter valued at approximately $44,000. Institutional investors own 82.97% of the company’s stock.

Insider Activity at Trane Technologies

In other Trane Technologies news, CFO Christopher J. Kuehn sold 876 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.42, for a total value of $313,099.92. Following the completion of the sale, the chief financial officer now owns 63,841 shares in the company, valued at $22,818,050.22. This represents a 1.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Mairead Magner sold 198 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was 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 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. In the last 90 days, insiders sold 7,234 shares of company stock worth $2,588,102. 0.38% of the stock is owned by corporate insiders.

Trane Technologies Stock Up 0.9 %

Shares of NYSE:TT opened at $344.81 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. The company has a market cap of $77.34 billion, a PE ratio of 30.65, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a 52 week low of $279.00 and a 52 week high of $422.00. The firm has a 50 day simple moving average of $367.96 and a 200 day simple moving average of $380.18.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Thursday, January 30th. The company reported $2.61 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, research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The company also recently declared 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 represents a $3.76 annualized dividend and a dividend yield of 1.09%. The ex-dividend date is Friday, March 7th. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s dividend payout ratio is 29.87%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TT. Wells Fargo & Company decreased their price objective on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a report on Friday, January 31st. Melius cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective for the company. in a report on Tuesday, January 28th. JPMorgan Chase & Co. increased their price objective on shares of Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Barclays increased their price objective on shares of Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Finally, Royal Bank of Canada increased their price objective on shares of 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 given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus 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.