LGT Fund Management Co Ltd. Acquires 856 Shares of Trane Technologies plc (NYSE:TT)

LGT Fund Management Co Ltd. boosted its holdings in Trane Technologies plc (NYSE:TT) by 15.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,496 shares of the company’s stock after acquiring an additional 856 shares during the quarter. LGT Fund Management Co Ltd.’s holdings in Trane Technologies were worth $2,399,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Tidal Investments LLC increased its stake in Trane Technologies by 22.2% in the third quarter. Tidal Investments LLC now owns 15,827 shares of the company’s stock valued at $6,152,000 after acquiring an additional 2,874 shares during the period. Synovus Financial Corp increased its stake in Trane Technologies by 16.8% in the third quarter. Synovus Financial Corp now owns 8,828 shares of the company’s stock valued at $3,431,000 after acquiring an additional 1,271 shares during the period. Ameritas Advisory Services LLC bought a new stake in Trane Technologies in the fourth quarter valued at about $468,000. HB Wealth Management LLC increased its stake in Trane Technologies by 14.3% in the fourth quarter. HB Wealth Management LLC now owns 5,689 shares of the company’s stock valued at $2,101,000 after acquiring an additional 711 shares during the period. Finally, GDS Wealth Management increased its stake in Trane Technologies by 4.3% in the third quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock valued at $20,123,000 after acquiring an additional 2,124 shares during the period. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Price Performance

TT opened at $354.22 on Monday. The company’s 50 day simple moving average is $371.26 and its 200-day simple moving average is $380.69. Trane Technologies plc has a one year low of $279.00 and a one year high of $422.00. The stock has a market capitalization of $79.45 billion, a P/E ratio of 31.49, a price-to-earnings-growth ratio of 2.50 and a beta of 1.05. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share 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%. 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 firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be issued a $0.94 dividend. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies’s dividend payout ratio is currently 29.87%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Melius cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective on the stock. in a research note on Tuesday, January 28th. JPMorgan Chase & Co. upped their price objective 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. Barclays upped their price objective on shares of Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. UBS Group decreased 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. Finally, Royal Bank of Canada upped their price objective on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research note on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Trane Technologies currently has a consensus rating of “Hold” and a consensus price target of $415.25.

Insider Activity at Trane Technologies

In other Trane Technologies news, CFO Christopher J. Kuehn sold 876 shares of the stock in a transaction 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 sale, the chief financial officer now directly owns 63,841 shares in the company, valued at approximately $22,818,050.22. This trade represents a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO David S. Regnery sold 2,754 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total transaction of $984,114.36. Following the completion of the sale, the chief executive officer now owns 132,969 shares in the company, valued at approximately $47,515,142.46. This trade represents a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,563 shares of company stock worth $4,388,966 over the last ninety days. Company insiders own 0.38% of the company’s stock.

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.