Raymond James Financial Inc. Acquires New Holdings in Trane Technologies plc (NYSE:TT)

Raymond James Financial Inc. acquired a new stake in Trane Technologies plc (NYSE:TT) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 1,655,127 shares of the company’s stock, valued at approximately $611,322,000. Raymond James Financial Inc. owned about 0.74% of Trane Technologies as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Arizona State Retirement System lifted its stake in shares of Trane Technologies by 0.3% in the 4th quarter. Arizona State Retirement System now owns 65,090 shares of the company’s stock worth $24,041,000 after acquiring an additional 190 shares during the period. Proficio Capital Partners LLC lifted its position in Trane Technologies by 28.3% in the fourth quarter. Proficio Capital Partners LLC now owns 685 shares of the company’s stock worth $253,000 after purchasing an additional 151 shares during the period. Assetmark Inc. boosted its stake in Trane Technologies by 3.5% during the 4th quarter. Assetmark Inc. now owns 19,459 shares of the company’s stock valued at $7,187,000 after purchasing an additional 658 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Trane Technologies by 38.4% during the 4th quarter. Victory Capital Management Inc. now owns 262,357 shares of the company’s stock valued at $96,902,000 after purchasing an additional 72,853 shares during the period. Finally, Keybank National Association OH raised its stake in shares of Trane Technologies by 3.1% in the 4th quarter. Keybank National Association OH now owns 27,884 shares of the company’s stock worth $10,299,000 after buying an additional 831 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, SVP Mairead Magner sold 198 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total transaction of $70,806.78. Following the completion of the sale, the senior vice president now directly owns 13,401 shares of the company’s stock, valued at $4,792,331.61. This trade represents a 1.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Christopher J. Kuehn sold 876 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total value of $313,099.92. Following the sale, the chief financial officer now directly owns 63,841 shares of the company’s stock, valued at $22,818,050.22. This trade represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,234 shares of company stock valued at $2,588,102. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Stock Up 1.6 %

Shares of Trane Technologies stock opened at $348.78 on Thursday. The stock has a 50-day moving average price of $369.25 and a 200 day moving average price of $380.46. The company has a market cap of $78.23 billion, a P/E ratio of 31.00, a P/E/G ratio of 2.50 and a beta of 1.08. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. Trane Technologies plc has a 1 year low of $279.00 and a 1 year high of $422.00.

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

Trane Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be paid a $0.94 dividend. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies’s dividend payout ratio is currently 29.87%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Wells Fargo & Company decreased their target price on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a research note on Friday, January 31st. Melius lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective for the company. in a research 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. 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 report on Friday, January 31st. Finally, Citigroup dropped their price target on Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a report on Monday, January 13th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $415.25.

Trane Technologies 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.