HM Payson & Co. Has $3.43 Million Stock Holdings in Trane Technologies plc (NYSE:TT)

HM Payson & Co. boosted its stake in Trane Technologies plc (NYSE:TT) by 0.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,272 shares of the company’s stock after purchasing an additional 73 shares during the quarter. HM Payson & Co.’s holdings in Trane Technologies were worth $3,425,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. PNC Financial Services Group Inc. grew its holdings in Trane Technologies by 0.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 291,214 shares of the company’s stock worth $107,560,000 after purchasing an additional 1,687 shares during the period. Bank Julius Baer & Co. Ltd Zurich grew its holdings in Trane Technologies by 455.2% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 427,226 shares of the company’s stock worth $167,977,000 after purchasing an additional 350,277 shares during the period. Machina Capital S.A.S. grew its holdings in Trane Technologies by 63.9% in the fourth quarter. Machina Capital S.A.S. now owns 8,432 shares of the company’s stock worth $3,114,000 after purchasing an additional 3,286 shares during the period. Mesirow Financial Investment Management Inc. grew its holdings in Trane Technologies by 99.7% in the fourth quarter. Mesirow Financial Investment Management Inc. now owns 17,104 shares of the company’s stock worth $6,317,000 after purchasing an additional 8,541 shares during the period. Finally, Haven Private LLC acquired a new stake in Trane Technologies in the fourth quarter worth $1,028,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on TT shares. Northcoast Research started coverage on shares of Trane Technologies in a research note on Friday, November 22nd. They issued a “buy” rating and a $500.00 price objective on the stock. Barclays raised their price objective on shares of Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. JPMorgan Chase & Co. raised their price objective on shares of Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. UBS Group dropped 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, Melius Research reaffirmed a “hold” rating and issued a $398.00 price objective on shares of Trane Technologies in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Trane Technologies currently has an average rating of “Hold” and an average price target of $415.25.

Trane Technologies Stock Performance

Shares of TT stock opened at $344.81 on Friday. The firm has a market cap of $77.34 billion, a price-to-earnings ratio of 30.65, a P/E/G 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 52 week low of $279.00 and a 52 week high of $422.00. The firm’s 50-day simple moving average is $367.96 and its two-hundred day simple moving average is $380.41.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data 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 analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a $0.94 dividend. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.76 annualized dividend and a yield of 1.09%. Trane Technologies’s payout ratio is currently 29.87%.

Insiders Place Their Bets

In other news, SVP Mairead Magner sold 198 shares of Trane Technologies stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total value of $70,806.78. Following the completion of the transaction, the senior vice president now owns 13,401 shares in the company, valued at $4,792,331.61. This trade represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David S. Regnery sold 2,754 shares of Trane Technologies stock in a transaction dated 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 transaction, the chief executive officer now owns 132,969 shares of the company’s stock, valued at $47,515,142.46. The trade was a 2.03 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,234 shares of company stock valued at $2,588,102. Company insiders own 0.38% of the company’s stock.

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.