Trane Technologies plc (NYSE:TT) Shares Bought by World Investment Advisors

World Investment Advisors raised its position in Trane Technologies plc (NYSE:TT) by 11.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 38,691 shares of the company’s stock after buying an additional 4,110 shares during the period. World Investment Advisors’ holdings in Trane Technologies were worth $14,291,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Trane Technologies by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 19,235,570 shares of the company’s stock valued at $7,104,658,000 after buying an additional 152,353 shares in the last quarter. State Street Corp lifted its holdings in Trane Technologies by 0.8% during the third quarter. State Street Corp now owns 9,769,161 shares of the company’s stock valued at $3,797,565,000 after purchasing an additional 77,830 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Trane Technologies by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 4,775,263 shares of the company’s stock valued at $1,760,549,000 after purchasing an additional 136,349 shares during the period. Norges Bank purchased a new stake in shares of Trane Technologies during the fourth quarter worth about $1,117,816,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Trane Technologies during the 4th quarter worth about $611,322,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Stock Performance

Shares of TT stock opened at $348.45 on Thursday. The stock has a market capitalization of $78.15 billion, a PE ratio of 30.97, a P/E/G ratio of 2.50 and a beta of 1.08. 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 plc has a 52 week low of $286.32 and a 52 week high of $422.00. The firm has a 50 day moving average of $354.67 and a two-hundred day moving average of $379.61.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (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%. On average, research analysts predict that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 7th were paid a $0.94 dividend. The ex-dividend date of this dividend was Friday, March 7th. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 dividend on an annualized basis and a yield of 1.08%. Trane Technologies’s dividend payout ratio (DPR) is currently 33.42%.

Insider Transactions at Trane Technologies

In other Trane Technologies news, CFO Christopher J. Kuehn sold 876 shares of the firm’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 transaction, the chief financial officer now owns 63,841 shares of the company’s stock, valued at approximately $22,818,050.22. This trade represents a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Mairead Magner sold 198 shares of Trane Technologies 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 in the company, 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. In the last ninety days, insiders sold 7,234 shares of company stock valued at $2,588,102. 0.38% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TT. Citigroup dropped their price objective on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a report on Monday, January 13th. 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. 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 research report on Friday, January 31st. Royal Bank of Canada lifted their target price on Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a research report on Friday, January 3rd. Finally, JPMorgan Chase & Co. raised their price objective on Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target 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.