114,183 Shares in Trane Technologies plc (NYSE:TT) Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS purchased a new position in shares of Trane Technologies plc (NYSE:TT) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 114,183 shares of the company’s stock, valued at approximately $42,173,000.

Several other institutional investors have also bought and sold shares of TT. Cobblestone Capital Advisors LLC NY grew its position in Trane Technologies by 1.8% during the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 1,490 shares of the company’s stock worth $579,000 after acquiring an additional 27 shares during the last quarter. Wescott Financial Advisory Group LLC grew its position in shares of Trane Technologies by 1.7% in the 3rd quarter. Wescott Financial Advisory Group LLC now owns 1,723 shares of the company’s stock worth $670,000 after buying an additional 28 shares during the last quarter. Secured Retirement Advisors LLC grew its position in shares of Trane Technologies by 0.6% in the 4th quarter. Secured Retirement Advisors LLC now owns 4,628 shares of the company’s stock worth $1,709,000 after buying an additional 28 shares during the last quarter. First Citizens Financial Corp lifted its stake in shares of Trane Technologies by 4.6% in the 4th quarter. First Citizens Financial Corp now owns 656 shares of the company’s stock valued at $242,000 after purchasing an additional 29 shares during the period. Finally, Catalina Capital Group LLC lifted its stake in shares of Trane Technologies by 3.2% in the 4th quarter. Catalina Capital Group LLC now owns 924 shares of the company’s stock valued at $341,000 after purchasing an additional 29 shares during the period. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Performance

Shares of NYSE TT opened at $347.30 on Friday. The stock has a market cap of $77.90 billion, a PE ratio of 30.87, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a 1 year low of $286.32 and a 1 year high of $422.00. The firm has a fifty day moving average price of $361.24 and a 200-day moving average price of $379.52. 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 issued its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, topping 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%. Equities 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. Investors of record on Friday, March 7th will be issued a $0.94 dividend. 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 an increase from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s dividend payout ratio is currently 33.42%.

Insider Buying and Selling at Trane Technologies

In other news, SVP Mairead Magner sold 198 shares of the company’s 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 approximately $4,792,331.61. This represents a 1.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David S. Regnery sold 2,754 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total transaction of $984,114.36. Following the sale, the chief executive officer now owns 132,969 shares in the company, valued at $47,515,142.46. This represents a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,234 shares of company stock valued at $2,588,102 in the last 90 days. Insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on TT. Northcoast Research initiated coverage on Trane Technologies in a report on Friday, November 22nd. They issued a “buy” rating and a $500.00 target price on the stock. Melius Research reaffirmed a “hold” rating and set a $398.00 price target on shares of Trane Technologies in a report on Tuesday, January 28th. Citigroup lowered their price target on Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a report on Monday, January 13th. JPMorgan Chase & Co. upped their price target on Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Finally, Wells Fargo & Company lowered their price target on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock 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 given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $413.69.

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.