Empowered Funds LLC Has $18.33 Million Stock Position in Trane Technologies plc (NYSE:TT)

Empowered Funds LLC grew its stake in shares of Trane Technologies plc (NYSE:TT) by 136.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 49,638 shares of the company’s stock after purchasing an additional 28,604 shares during the period. Empowered Funds LLC’s holdings in Trane Technologies were worth $18,334,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in TT. CWM LLC raised its holdings in shares of Trane Technologies by 33.8% during the third quarter. CWM LLC now owns 8,675 shares of the company’s stock valued at $3,372,000 after purchasing an additional 2,192 shares during the period. Sanibel Captiva Trust Company Inc. acquired a new stake in shares of Trane Technologies in the 3rd quarter worth about $217,000. Evexia Wealth LLC raised its holdings in shares of Trane Technologies by 24.7% in the 3rd quarter. Evexia Wealth LLC now owns 2,208 shares of the company’s stock worth $862,000 after acquiring an additional 437 shares during the last quarter. McNamara Financial Services Inc. acquired a new stake in shares of Trane Technologies in the 3rd quarter worth about $591,000. Finally, Ritholtz Wealth Management raised its holdings in shares of Trane Technologies by 12.5% in the 3rd quarter. Ritholtz Wealth Management now owns 1,226 shares of the company’s stock worth $477,000 after acquiring an additional 136 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on TT shares. Barclays upped their price objective on shares of Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. HSBC downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective for the company. in a report on Thursday, October 31st. Robert W. Baird cut their price objective on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Hsbc Global Res downgraded shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Finally, Wells Fargo & Company cut their price objective on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $415.25.

Insiders Place Their Bets

In other news, CFO Christopher J. Kuehn sold 876 shares of Trane Technologies stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.42, for a total transaction of $313,099.92. Following the sale, the chief financial officer now owns 63,841 shares of the company’s stock, valued at approximately $22,818,050.22. The trade was a 1.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Mairead Magner sold 198 shares of Trane Technologies stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total transaction of $70,806.78. Following the sale, the senior vice president now directly owns 13,401 shares in the company, valued at $4,792,331.61. The trade was a 1.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,157 shares of company stock valued at $3,168,885 in the last quarter. Insiders own 0.38% of the company’s stock.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $356.07 on Friday. The stock has a market cap of $80.12 billion, a PE ratio of 31.65, a PEG ratio of 2.44 and a beta of 1.05. The company’s fifty day moving average is $383.65 and its 200 day moving average is $377.09. Trane Technologies plc has a 52 week low of $265.37 and a 52 week 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.

Trane Technologies (NYSE:TT) last issued its earnings results on Thursday, January 30th. The company reported $2.61 EPS for the quarter, topping analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. Research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a 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 (DPR) is 29.87%.

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.