Navellier & Associates Inc. Takes $4.75 Million Position in Trane Technologies plc (NYSE:TT)

Navellier & Associates Inc. bought a new stake in Trane Technologies plc (NYSE:TT) in the 4th quarter, Holdings Channel.com reports. The firm bought 12,867 shares of the company’s stock, valued at approximately $4,752,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Peregrine Asset Advisers Inc. increased its position in Trane Technologies by 13.1% in the 4th quarter. Peregrine Asset Advisers Inc. now owns 865 shares of the company’s stock valued at $319,000 after acquiring an additional 100 shares during the period. Bradley Foster & Sargent Inc. CT increased its position in Trane Technologies by 6.0% in the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 5,316 shares of the company’s stock valued at $1,963,000 after acquiring an additional 300 shares during the period. Arcadia Investment Management Corp MI increased its position in Trane Technologies by 1.0% in the 4th quarter. Arcadia Investment Management Corp MI now owns 24,476 shares of the company’s stock valued at $9,040,000 after acquiring an additional 242 shares during the period. Compass Capital Corp MA ADV acquired a new position in Trane Technologies in the 4th quarter valued at about $301,000. Finally, Centricity Wealth Management LLC acquired a new position in Trane Technologies in the 4th quarter valued at about $55,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TT. Hsbc Global Res cut Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Citigroup dropped their price target on Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. JPMorgan Chase & Co. boosted their target price on 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 dropped their target price on Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Finally, Robert W. Baird dropped their target price on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Trane Technologies presently has an average rating of “Hold” and a consensus target price of $415.25.

Trane Technologies Stock Performance

TT opened at $354.56 on Friday. The stock has a market cap of $79.52 billion, a P/E ratio of 31.52, a P/E/G ratio of 2.53 and a beta of 1.05. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. The stock’s 50 day simple moving average is $374.82 and its 200 day simple moving average is $379.44. Trane Technologies plc has a 1-year low of $279.00 and a 1-year high of $422.00.

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

Trane Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend 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 currently 29.87%.

Insiders Place Their Bets

In other news, SVP Mairead Magner sold 4,329 shares of the company’s stock in a transaction on 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 sale, the senior vice president now directly owns 12,893 shares in the company, valued at $5,363,488. This represents a 25.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO David S. Regnery sold 2,754 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total value of $984,114.36. Following the sale, the chief executive officer now owns 132,969 shares of the company’s stock, valued at approximately $47,515,142.46. The trade was a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,563 shares of company stock valued at $4,388,966 in the last quarter. 0.38% of the stock is currently 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.