EULAV Asset Management Raises Holdings in Trane Technologies plc (NYSE:TT)

EULAV Asset Management raised its stake in shares of Trane Technologies plc (NYSE:TT) by 65.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 48,000 shares of the company’s stock after buying an additional 19,000 shares during the quarter. EULAV Asset Management’s holdings in Trane Technologies were worth $17,729,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Trust Point Inc. raised its holdings in Trane Technologies by 3.1% in the 3rd quarter. Trust Point Inc. now owns 897 shares of the company’s stock valued at $349,000 after acquiring an additional 27 shares during the last quarter. Cobblestone Capital Advisors LLC NY increased its stake in Trane Technologies by 1.8% in 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 last quarter. First Pacific Financial lifted its position in Trane Technologies by 1.1% during the third quarter. First Pacific Financial now owns 2,674 shares of the company’s stock worth $1,039,000 after buying an additional 28 shares during the period. Wescott Financial Advisory Group LLC boosted its stake in Trane Technologies by 1.7% in the 3rd quarter. Wescott Financial Advisory Group LLC now owns 1,723 shares of the company’s stock worth $670,000 after buying an additional 28 shares during the last quarter. Finally, Greenleaf Trust grew its holdings in Trane Technologies by 0.5% in the 3rd quarter. Greenleaf Trust now owns 5,852 shares of the company’s stock valued at $2,275,000 after buying an additional 29 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

TT has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their target price on shares of Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. UBS Group decreased their price target on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Northcoast Research initiated coverage on Trane Technologies in a report on Friday, November 22nd. They set a “buy” rating and a $500.00 price objective for the company. Melius cut Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price on the stock. in a report on Tuesday, January 28th. Finally, Royal Bank of Canada raised their price objective on Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Trane Technologies has a consensus rating of “Hold” and a consensus price target of $415.25.

Insider Buying and Selling

In other news, CFO Christopher J. Kuehn sold 876 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.42, for a total value of $313,099.92. Following the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Mairead Magner sold 198 shares of the business’s 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 of the company’s stock, valued at approximately $4,792,331.61. This represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,157 shares of company stock worth $3,168,885. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Price Performance

Shares of TT stock opened at $356.07 on Friday. Trane Technologies plc has a twelve month low of $265.37 and a twelve month high of $422.00. The company has a market capitalization of $80.12 billion, a PE ratio of 31.65, a price-to-earnings-growth ratio of 2.18 and a beta of 1.05. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The firm has a fifty day simple moving average of $384.85 and a 200-day simple moving average of $376.96.

Trane Technologies (NYSE:TT) last announced its earnings results 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 return on equity of 35.37% and a net margin of 12.94%. Equities research analysts anticipate that Trane Technologies plc will post 12.79 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date is Friday, March 7th. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s dividend payout ratio is 29.87%.

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.