Trane Technologies plc (NYSE:TT) Shares Acquired by Marietta Investment Partners LLC

Marietta Investment Partners LLC increased its position in shares of Trane Technologies plc (NYSE:TT) by 7.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 23,832 shares of the company’s stock after purchasing an additional 1,580 shares during the quarter. Trane Technologies accounts for 1.9% of Marietta Investment Partners LLC’s investment portfolio, making the stock its 14th biggest holding. Marietta Investment Partners LLC’s holdings in Trane Technologies were worth $8,802,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hillsdale Investment Management Inc. acquired a new position in Trane Technologies during the fourth quarter worth $683,000. American Century Companies Inc. raised its holdings in shares of Trane Technologies by 151.8% in the fourth quarter. American Century Companies Inc. now owns 90,053 shares of the company’s stock worth $33,261,000 after acquiring an additional 54,295 shares during the last quarter. Mizuho Securities USA LLC raised its holdings in shares of Trane Technologies by 45.7% in the fourth quarter. Mizuho Securities USA LLC now owns 21,327 shares of the company’s stock worth $7,877,000 after acquiring an additional 6,694 shares during the last quarter. Quantbot Technologies LP raised its holdings in shares of Trane Technologies by 131.4% in the fourth quarter. Quantbot Technologies LP now owns 26,593 shares of the company’s stock worth $9,822,000 after acquiring an additional 15,101 shares during the last quarter. Finally, Sciencast Management LP acquired a new position in shares of Trane Technologies in the fourth quarter worth $922,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Trading Down 0.6 %

Shares of NYSE TT opened at $347.30 on Friday. The stock’s 50 day moving average price is $361.24 and its two-hundred day moving average price is $379.52. Trane Technologies plc has a 52-week low of $286.32 and a 52-week high of $422.00. The stock has a market capitalization of $77.90 billion, a P/E ratio of 30.87, a PEG ratio of 2.50 and a beta of 1.08. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58.

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, beating 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%. On average, analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.76 annualized dividend and a yield of 1.08%. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s dividend payout ratio is presently 33.42%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Northcoast Research assumed coverage on Trane Technologies in a report on Friday, November 22nd. They issued a “buy” rating and a $500.00 price target for the company. Wells Fargo & Company cut their price target on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a report on Friday, January 31st. UBS Group lowered their price objective on Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Royal Bank of Canada lifted their price objective on Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a research report on Friday, January 3rd. Finally, Melius downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price target for the company. in a research report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $413.69.

Insider Activity

In other news, SVP Mairead Magner sold 198 shares of the company’s stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 13,401 shares of the company’s stock, valued at approximately $4,792,331.61. This represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Christopher J. Kuehn sold 770 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $358.39, for a total value of $275,960.30. Following the completion of the transaction, the chief financial officer now directly owns 62,221 shares of the company’s stock, valued at $22,299,384.19. This trade represents a 1.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,234 shares of company stock valued at $2,588,102. 0.38% of the stock is currently owned by insiders.

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.