Globeflex Capital L P Acquires Shares of 52,000 Trane Technologies plc (NYSE:TT)

Globeflex Capital L P acquired a new stake in Trane Technologies plc (NYSE:TT) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 52,000 shares of the company’s stock, valued at approximately $19,206,000. Trane Technologies makes up about 1.6% of Globeflex Capital L P’s holdings, making the stock its 14th largest holding.

A number of other large investors have also recently made changes to their positions in TT. Diversified Enterprises LLC increased its holdings in Trane Technologies by 18.6% during the fourth quarter. Diversified Enterprises LLC now owns 1,486 shares of the company’s stock worth $549,000 after buying an additional 233 shares during the last quarter. Natixis Advisors LLC increased its holdings in Trane Technologies by 23.5% during the fourth quarter. Natixis Advisors LLC now owns 167,348 shares of the company’s stock worth $61,810,000 after buying an additional 31,873 shares during the last quarter. Frank Rimerman Advisors LLC increased its holdings in Trane Technologies by 1.0% during the fourth quarter. Frank Rimerman Advisors LLC now owns 5,656 shares of the company’s stock worth $2,089,000 after buying an additional 54 shares during the last quarter. Buckley Wealth Management LLC increased its holdings in Trane Technologies by 2.4% during the fourth quarter. Buckley Wealth Management LLC now owns 4,039 shares of the company’s stock worth $1,492,000 after buying an additional 94 shares during the last quarter. Finally, Alpine Woods Capital Investors LLC increased its holdings in Trane Technologies by 9.6% during the fourth quarter. Alpine Woods Capital Investors LLC now owns 16,818 shares of the company’s stock worth $6,212,000 after buying an additional 1,469 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. UBS Group decreased their price objective on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a report on Friday, January 31st. Northcoast Research initiated coverage on shares of Trane Technologies in a research note on Friday, November 22nd. They issued a “buy” rating and a $500.00 target price for the company. Wells Fargo & Company reduced their target price on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a research note on Friday, January 31st. JPMorgan Chase & Co. lifted their target price on shares of Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Finally, Melius downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price for the company. in a research note on Tuesday, January 28th. 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, Trane Technologies has an average rating of “Hold” and a consensus price target of $413.69.

Trane Technologies Trading Up 2.8 %

Shares of TT opened at $348.48 on Friday. The firm has a market cap of $78.16 billion, a price-to-earnings ratio of 30.98, a PEG ratio of 2.50 and a beta of 1.08. 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 plc has a fifty-two week low of $286.32 and a fifty-two week high of $422.00. The firm has a 50 day moving average price of $364.65 and a 200-day moving average price of $379.80.

Trane Technologies (NYSE:TT) last issued its 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 net margin of 12.94% and a return on equity of 35.37%. As a group, equities research analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current 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 paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.08%. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date is Friday, March 7th. Trane Technologies’s payout ratio is presently 33.42%.

Insider Buying and Selling

In other Trane Technologies news, CEO David S. Regnery sold 2,754 shares of the business’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 transaction, the chief executive officer now directly owns 132,969 shares of the company’s stock, valued at approximately $47,515,142.46. The trade was a 2.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Mairead Magner sold 198 shares of the business’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 transaction, the senior vice president now directly owns 13,401 shares in the company, valued at approximately $4,792,331.61. The trade was a 1.46 % 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 valued at $2,588,102 over the last three months. 0.38% of the stock is owned by company insiders.

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.