Trane Technologies plc (NYSE:TT) Stock Position Raised by Gables Capital Management Inc.

Gables Capital Management Inc. lifted its holdings in shares of Trane Technologies plc (NYSE:TT) by 90.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 316 shares of the company’s stock after buying an additional 150 shares during the period. Gables Capital Management Inc.’s holdings in Trane Technologies were worth $117,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of TT. Swedbank AB grew its position in shares of Trane Technologies by 2.8% during the 3rd quarter. Swedbank AB now owns 743,794 shares of the company’s stock valued at $289,135,000 after buying an additional 20,400 shares during the last quarter. Equitable Trust Co. bought a new stake in shares of Trane Technologies during the 3rd quarter valued at about $220,000. CWA Asset Management Group LLC bought a new stake in shares of Trane Technologies during the 3rd quarter valued at about $386,000. Verdence Capital Advisors LLC grew its position in shares of Trane Technologies by 5.0% during the 3rd quarter. Verdence Capital Advisors LLC now owns 1,362 shares of the company’s stock valued at $529,000 after buying an additional 65 shares during the last quarter. Finally, Assetmark Inc. grew its position in shares of Trane Technologies by 1.8% during the 3rd quarter. Assetmark Inc. now owns 18,801 shares of the company’s stock valued at $7,309,000 after buying an additional 327 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Insider Activity at Trane Technologies

In other news, SVP Evan M. Turtz sold 318 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $358.12, for a total transaction of $113,882.16. Following the sale, the senior vice president now owns 20,513 shares in the company, 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 can be accessed through the SEC website. Also, CEO David S. Regnery sold 2,754 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total transaction of $984,114.36. Following the sale, the chief executive officer now 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. Insiders sold a total of 7,234 shares of company stock valued at $2,588,102 over the last ninety days. Insiders own 0.38% of the company’s stock.

Trane Technologies Stock Down 1.9 %

TT stock opened at $338.24 on Tuesday. Trane Technologies plc has a 12 month low of $279.00 and a 12 month high of $422.00. The firm has a market cap of $75.86 billion, a PE ratio of 30.07, a P/E/G ratio of 2.50 and a beta of 1.08. The firm has a 50 day simple moving average of $367.30 and a 200 day simple moving average of $380.52. 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 released its 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%. Equities research analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be paid a dividend of $0.94 per share. The ex-dividend date is Friday, March 7th. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 annualized dividend and a yield of 1.11%. Trane Technologies’s dividend payout ratio is currently 33.42%.

Wall Street Analysts Forecast Growth

Several research firms have commented on TT. Melius cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price for the company. in a research report on Tuesday, January 28th. Royal Bank of Canada upped their target price on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research report on Friday, January 3rd. Wells Fargo & Company decreased 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. JPMorgan Chase & Co. upped 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. Finally, Barclays decreased their target price on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a research report on Monday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Trane Technologies currently has a consensus rating of “Hold” and a consensus target price of $413.69.

Trane Technologies Company 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.