Smartleaf Asset Management LLC Acquires 625 Shares of Trane Technologies plc (NYSE:TT)

Smartleaf Asset Management LLC lifted its holdings in Trane Technologies plc (NYSE:TT) by 61.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,637 shares of the company’s stock after purchasing an additional 625 shares during the period. Smartleaf Asset Management LLC’s holdings in Trane Technologies were worth $607,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in TT. Swedbank AB lifted its position in shares of Trane Technologies by 2.8% in the third quarter. Swedbank AB now owns 743,794 shares of the company’s stock worth $289,135,000 after purchasing an additional 20,400 shares in the last quarter. Gladstone Institutional Advisory LLC acquired a new position in Trane Technologies during the third quarter worth $632,000. Farther Finance Advisors LLC increased its holdings in Trane Technologies by 34.0% during the third quarter. Farther Finance Advisors LLC now owns 2,716 shares of the company’s stock worth $1,056,000 after buying an additional 689 shares during the last quarter. Chicago Partners Investment Group LLC increased its holdings in Trane Technologies by 7.1% during the third quarter. Chicago Partners Investment Group LLC now owns 2,782 shares of the company’s stock worth $1,101,000 after buying an additional 185 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in Trane Technologies by 10.4% during the third quarter. Van ECK Associates Corp now owns 49,620 shares of the company’s stock worth $19,641,000 after buying an additional 4,693 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on TT shares. Northcoast Research started coverage on shares of Trane Technologies in a report on Friday, November 22nd. They set a “buy” rating and a $500.00 target price on the stock. Melius downgraded shares of 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. Royal Bank of Canada boosted their target price on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a report on Friday, January 3rd. Wells Fargo & Company lowered 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. Finally, Barclays boosted their target price on shares of Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $415.25.

Trane Technologies Trading Down 2.4 %

TT stock opened at $345.30 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. The company’s 50-day simple moving average is $370.62 and its 200 day simple moving average is $380.68. Trane Technologies plc has a 52 week low of $279.00 and a 52 week high of $422.00. The company has a market capitalization of $77.45 billion, a PE ratio of 30.69, a price-to-earnings-growth ratio of 2.50 and a beta of 1.05.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Thursday, January 30th. The company reported $2.61 EPS 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%. As a group, sell-side analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be given a dividend of $0.94 per share. This is a boost 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 dividend payout ratio is currently 29.87%.

Insider Buying and Selling

In related news, CEO David S. Regnery sold 2,754 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were 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 of the company’s stock, valued at $47,515,142.46. This represents a 2.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Mairead Magner sold 4,329 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the completion of the transaction, the senior vice president now directly owns 12,893 shares of the company’s stock, valued at $5,363,488. This trade represents a 25.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,563 shares of company stock valued at $4,388,966 over the last quarter. 0.38% of the stock is owned by company insiders.

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.