Marvin & Palmer Associates Inc. Raises Stock Position in Trane Technologies plc (NYSE:TT)

Marvin & Palmer Associates Inc. lifted its stake in shares of Trane Technologies plc (NYSE:TT) by 58.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,017 shares of the company’s stock after buying an additional 4,799 shares during the quarter. Trane Technologies comprises about 3.7% of Marvin & Palmer Associates Inc.’s holdings, making the stock its 14th biggest holding. Marvin & Palmer Associates Inc.’s holdings in Trane Technologies were worth $4,808,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Tidal Investments LLC increased its holdings in shares of Trane Technologies by 22.2% in the 3rd 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 boosted its position in shares of Trane Technologies by 16.8% in the 3rd quarter. Synovus Financial Corp now owns 8,828 shares of the company’s stock worth $3,431,000 after buying an additional 1,271 shares in the last quarter. Ameritas Advisory Services LLC purchased a new stake in shares of Trane Technologies in the 4th quarter worth about $468,000. HB Wealth Management LLC boosted its position in shares of Trane Technologies by 14.3% in the 4th quarter. HB Wealth Management LLC now owns 5,689 shares of the company’s stock worth $2,101,000 after buying an additional 711 shares in the last quarter. Finally, GDS Wealth Management lifted its holdings in Trane Technologies by 4.3% in the 3rd quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock valued at $20,123,000 after purchasing an additional 2,124 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Melius lowered 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. Wells Fargo & Company dropped their target price on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a research report on Friday, January 31st. Melius Research reissued a “hold” rating and set a $398.00 target price on shares of Trane Technologies in a research report on Tuesday, January 28th. UBS Group lowered their price objective on shares of 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, JPMorgan Chase & Co. increased their price objective on shares of Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $415.25.

Insider Activity

In related news, SVP Evan M. Turtz sold 318 shares of Trane Technologies stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $358.12, for a total transaction of $113,882.16. Following the transaction, the senior vice president now directly owns 20,513 shares of the company’s stock, valued at $7,346,115.56. The trade was a 1.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 value of $984,114.36. Following the completion of the transaction, the chief executive officer now directly owns 132,969 shares in the company, valued at $47,515,142.46. This represents a 2.03 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety 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.

Trane Technologies Stock Performance

Shares of TT opened at $344.81 on Monday. The business’s fifty day moving average price is $367.96 and its 200 day moving average price is $380.61. Trane Technologies plc has a 12-month low of $279.00 and a 12-month high of $422.00. The stock has a market capitalization of $77.34 billion, a PE ratio of 30.65, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. 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 posted its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 forecast that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders 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 yield of 1.09%. 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. Trane Technologies’s dividend payout ratio (DPR) is presently 33.42%.

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.