Geode Capital Management LLC Purchases 136,349 Shares of Trane Technologies plc (NYSE:TT)

Geode Capital Management LLC grew its position in Trane Technologies plc (NYSE:TT) by 2.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,775,263 shares of the company’s stock after purchasing an additional 136,349 shares during the period. Geode Capital Management LLC’s holdings in Trane Technologies were worth $1,760,549,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Public Sector Pension Investment Board boosted its holdings in Trane Technologies by 14.0% during the third quarter. Public Sector Pension Investment Board now owns 9,772 shares of the company’s stock worth $3,799,000 after purchasing an additional 1,200 shares during the last quarter. Captrust Financial Advisors grew its holdings in shares of Trane Technologies by 13.4% in the 3rd quarter. Captrust Financial Advisors now owns 15,221 shares of the company’s stock valued at $5,917,000 after acquiring an additional 1,804 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in shares of Trane Technologies in the third quarter valued at about $519,000. Tradition Wealth Management LLC bought a new stake in Trane Technologies during the third quarter worth about $232,000. Finally, Benjamin Edwards Inc. grew its stake in Trane Technologies by 311,900.0% in the third quarter. Benjamin Edwards Inc. now owns 9,360 shares of the company’s stock valued at $3,639,000 after purchasing an additional 9,357 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Royal Bank of Canada upped their price objective on Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research note on Friday, January 3rd. Melius cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price target for the company. in a research note on Tuesday, January 28th. UBS Group lowered their price objective on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Melius Research reiterated a “hold” rating and issued a $398.00 target price on shares of Trane Technologies in a research note on Tuesday, January 28th. Finally, Citigroup lowered their price target on Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $413.69.

Insiders Place Their Bets

In other Trane Technologies news, SVP Mairead Magner sold 198 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total transaction of $70,806.78. Following the sale, the senior vice president now directly owns 13,401 shares in the company, valued at $4,792,331.61. This represents a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Christopher J. Kuehn sold 770 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $358.39, for a total transaction of $275,960.30. Following the completion of the transaction, the chief financial officer now owns 62,221 shares of the company’s stock, valued at $22,299,384.19. The trade was a 1.22 % 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. Company insiders own 0.38% of the company’s stock.

Trane Technologies Stock Up 1.5 %

TT opened at $341.89 on Wednesday. The stock has a fifty day moving average of $355.69 and a 200-day moving average of $379.83. The company has a market capitalization of $76.68 billion, a P/E ratio of 30.39, a P/E/G ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a fifty-two week low of $286.32 and a fifty-two week high of $422.00. 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 posted its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. On average, equities analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 7th were given a dividend of $0.94 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $3.76 dividend on an annualized basis and a yield of 1.10%. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s dividend payout ratio is currently 33.42%.

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.