Terra Alpha Investments LLC Invests $4.39 Million in Trane Technologies plc (NYSE:TT)

Terra Alpha Investments LLC acquired a new position in Trane Technologies plc (NYSE:TT) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 11,894 shares of the company’s stock, valued at approximately $4,393,000. Trane Technologies makes up 4.4% of Terra Alpha Investments LLC’s holdings, making the stock its 10th largest holding.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Parallel Advisors LLC raised its stake in shares of Trane Technologies by 5.8% in the 4th quarter. Parallel Advisors LLC now owns 2,918 shares of the company’s stock worth $1,078,000 after buying an additional 161 shares in the last quarter. Cibc World Markets Corp raised its position in shares of Trane Technologies by 15.8% during the fourth quarter. Cibc World Markets Corp now owns 35,515 shares of the company’s stock worth $13,117,000 after purchasing an additional 4,844 shares during the period. Twin Tree Management LP acquired a new stake in shares of Trane Technologies during the fourth quarter worth $424,000. Signature Wealth Management Group raised its position in shares of Trane Technologies by 5.0% during the fourth quarter. Signature Wealth Management Group now owns 4,390 shares of the company’s stock worth $1,622,000 after purchasing an additional 208 shares during the period. Finally, Harbour Investments Inc. raised its position in shares of Trane Technologies by 11.8% during the fourth quarter. Harbour Investments Inc. now owns 1,029 shares of the company’s stock worth $380,000 after purchasing an additional 109 shares during the period. Institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

TT has been the topic of a number of recent analyst reports. UBS Group cut their target price on Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Barclays cut their target price on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. Melius Research reaffirmed a “hold” rating and set a $398.00 target price on shares of Trane Technologies in a research report on Tuesday, January 28th. Northcoast Research began coverage on Trane Technologies in a research report on Friday, November 22nd. They set a “buy” rating and a $500.00 target price on the stock. Finally, Wells Fargo & Company dropped their price target on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $413.69.

Insider Transactions at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 876 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total transaction of $313,099.92. Following the completion of the sale, the chief financial officer now owns 63,841 shares in the company, valued at approximately $22,818,050.22. This represents a 1.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Mairead Magner sold 198 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was 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 approximately $4,792,331.61. This trade represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,234 shares of company stock worth $2,588,102. 0.38% of the stock is owned by corporate insiders.

Trane Technologies Stock Performance

Shares of NYSE TT opened at $348.48 on Monday. The business’s 50-day moving average price is $364.65 and its two-hundred day moving average price is $380.19. 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 plc has a one year low of $286.32 and a one year high of $422.00. The company has a market capitalization of $78.16 billion, a P/E ratio of 30.98, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08.

Trane Technologies (NYSE:TT) last issued its earnings results on Thursday, January 30th. The company reported $2.61 EPS for the quarter, beating 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%. 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 announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.76 dividend on an annualized basis and a yield of 1.08%. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s payout ratio is 33.42%.

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.