Knuff & Co LLC Takes $62,000 Position in Trane Technologies plc (NYSE:TT)

Knuff & Co LLC acquired a new stake in shares of Trane Technologies plc (NYSE:TT) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 167 shares of the company’s stock, valued at approximately $62,000.

Other hedge funds have also recently made changes to their positions in the company. Global Wealth Strategies & Associates acquired a new position in shares of Trane Technologies during the fourth quarter valued at about $26,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Trane Technologies during the third quarter valued at about $27,000. Sound Income Strategies LLC grew its holdings in shares of Trane Technologies by 1,314.3% during the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after buying an additional 92 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in shares of Trane Technologies during the fourth quarter valued at about $39,000. Finally, Legacy Investment Solutions LLC bought a new position in shares of Trane Technologies during the third quarter valued at about $44,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TT. Northcoast Research began coverage on shares of Trane Technologies in a research report on Friday, November 22nd. They set a “buy” rating and a $500.00 price target on the stock. UBS Group dropped their price target on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Melius Research reissued a “hold” rating and set a $398.00 price target on shares of Trane Technologies in a research report on Tuesday, January 28th. Melius lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price target on the stock. in a research report on Tuesday, January 28th. Finally, Royal Bank of Canada raised their price target on shares of Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a research report on Friday, January 3rd. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $413.69.

Insider Activity

In related news, SVP Mairead Magner sold 198 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total transaction of $70,806.78. Following the completion of the transaction, the senior vice president now owns 13,401 shares of the company’s stock, valued at approximately $4,792,331.61. The trade was a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Christopher J. Kuehn sold 876 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.42, for a total transaction of $313,099.92. Following the transaction, the chief financial officer now directly owns 63,841 shares of the company’s stock, valued at approximately $22,818,050.22. This represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,234 shares of company stock valued at $2,588,102 over the last quarter. Company insiders own 0.38% of the company’s stock.

Trane Technologies Stock Performance

NYSE TT opened at $334.57 on Wednesday. The company’s 50 day moving average is $366.61 and its 200-day moving average is $380.39. Trane Technologies plc has a 12-month low of $281.46 and a 12-month high of $422.00. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The firm has a market cap of $75.04 billion, a P/E ratio of 29.74, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results 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 net margin of 12.94% and a return on equity of 35.37%. Sell-side analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be given a $0.94 dividend. The ex-dividend date is Friday, March 7th. This represents a $3.76 annualized dividend and a dividend yield of 1.12%. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s payout ratio is 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.