Trane Technologies plc (NYSE:TT) Shares Acquired by Jacobi Capital Management LLC

Jacobi Capital Management LLC increased its holdings in Trane Technologies plc (NYSE:TT) by 9.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,055 shares of the company’s stock after acquiring an additional 271 shares during the quarter. Jacobi Capital Management LLC’s holdings in Trane Technologies were worth $1,129,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of TT. Massachusetts Financial Services Co. MA lifted its stake in shares of Trane Technologies by 35.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock worth $991,460,000 after acquiring an additional 671,691 shares in the last quarter. FMR LLC increased its holdings in Trane Technologies by 4.0% in the third quarter. FMR LLC now owns 10,337,672 shares of the company’s stock valued at $4,018,563,000 after buying an additional 397,537 shares during the last quarter. Nordea Investment Management AB increased its holdings in Trane Technologies by 42.9% in the fourth quarter. Nordea Investment Management AB now owns 978,275 shares of the company’s stock valued at $361,874,000 after buying an additional 293,916 shares during the last quarter. Proficio Capital Partners LLC increased its holdings in Trane Technologies by 47,293.6% in the fourth quarter. Proficio Capital Partners LLC now owns 253,082 shares of the company’s stock valued at $93,476,000 after buying an additional 252,548 shares during the last quarter. Finally, AustralianSuper Pty Ltd increased its holdings in Trane Technologies by 470.9% in the fourth quarter. AustralianSuper Pty Ltd now owns 179,794 shares of the company’s stock valued at $66,407,000 after buying an additional 148,302 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Evan M. Turtz sold 318 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $358.12, for a total transaction of $113,882.16. Following the completion of the sale, the senior vice president now owns 20,513 shares in the company, valued at approximately $7,346,115.56. This represents a 1.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Mairead Magner sold 198 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total value of $70,806.78. Following the sale, the senior vice president now 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 disclosure for this sale can be found here. Insiders sold 11,563 shares of company stock worth $4,388,966 over the last ninety days. Company insiders own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TT. Wells Fargo & Company lowered their price objective on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a report on Friday, January 31st. Barclays boosted their price objective on Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Citigroup lowered their target price on Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a report on Monday, January 13th. JPMorgan Chase & Co. upped their target price on Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Finally, UBS Group lowered their target price on Trane Technologies from $500.00 to $470.00 and set a “buy” 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 issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Trane Technologies presently has an average rating of “Hold” and an average target price of $415.25.

Trane Technologies Stock Performance

Shares of TT stock opened at $354.22 on Friday. Trane Technologies plc has a 12-month low of $279.00 and a 12-month high of $422.00. The firm has a market capitalization of $79.45 billion, a price-to-earnings ratio of 31.49, a price-to-earnings-growth ratio of 2.50 and a beta of 1.05. The business has a 50 day simple moving average of $371.26 and a 200 day simple moving average of $380.45. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88.

Trane Technologies (NYSE:TT) last released its 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%. On average, equities research analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.06%. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date is Friday, March 7th. Trane Technologies’s dividend payout ratio is 29.87%.

Trane Technologies Company 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.