IQ EQ FUND MANAGEMENT IRELAND Ltd Buys 1,822 Shares of Trane Technologies plc (NYSE:TT)

IQ EQ FUND MANAGEMENT IRELAND Ltd raised its stake in shares of Trane Technologies plc (NYSE:TT) by 86.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,936 shares of the company’s stock after buying an additional 1,822 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Trane Technologies were worth $1,454,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of TT. Cobblestone Capital Advisors LLC NY grew its holdings in Trane Technologies by 1.8% during the third quarter. Cobblestone Capital Advisors LLC NY now owns 1,490 shares of the company’s stock valued at $579,000 after purchasing an additional 27 shares during the period. Secured Retirement Advisors LLC increased its position in shares of Trane Technologies by 0.6% in the 4th quarter. Secured Retirement Advisors LLC now owns 4,628 shares of the company’s stock valued at $1,709,000 after buying an additional 28 shares in the last quarter. First Citizens Financial Corp grew its stake in Trane Technologies by 4.6% in the fourth quarter. First Citizens Financial Corp now owns 656 shares of the company’s stock valued at $242,000 after acquiring an additional 29 shares during the period. Catalina Capital Group LLC increased its holdings in shares of Trane Technologies by 3.2% in the fourth quarter. Catalina Capital Group LLC now owns 924 shares of the company’s stock worth $341,000 after acquiring an additional 29 shares in the last quarter. Finally, Stratos Wealth Partners LTD. lifted its holdings in shares of Trane Technologies by 0.5% during the 4th quarter. Stratos Wealth Partners LTD. now owns 5,538 shares of the company’s stock valued at $2,046,000 after purchasing an additional 29 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Insider Activity at Trane Technologies

In related news, SVP Mairead Magner sold 198 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total value of $70,806.78. Following the completion of the sale, 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Christopher J. Kuehn sold 876 shares of the stock in a transaction on Tuesday, February 4th. The stock was 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 disclosure for this sale can be found here. Insiders sold 7,234 shares of company stock worth $2,588,102 in the last ninety days. 0.38% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on TT shares. Wells Fargo & Company dropped their target price on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. Royal Bank of Canada increased their target price on Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a report on Friday, January 3rd. Melius cut Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective for the company. in a research report on Tuesday, January 28th. UBS Group reduced their price target on Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Finally, Barclays lowered their price objective on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $413.69.

Trane Technologies Trading Down 1.6 %

Shares of Trane Technologies stock opened at $346.58 on Friday. Trane Technologies plc has a 1 year low of $286.32 and a 1 year high of $422.00. The company has a market capitalization of $77.74 billion, a price-to-earnings ratio of 30.81, a P/E/G ratio of 2.50 and a beta of 1.08. The business has a fifty day simple moving average of $358.99 and a two-hundred day simple moving average of $379.82. 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 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%. Research analysts forecast that Trane Technologies plc will post 12.83 EPS 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 issued a dividend of $0.94 per share. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies’s dividend payout ratio (DPR) is presently 33.42%.

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.