Prossimo Advisors LLC Grows Stock Holdings in Trane Technologies plc (NYSE:TT)

Prossimo Advisors LLC grew its stake in shares of Trane Technologies plc (NYSE:TT) by 0.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,463 shares of the company’s stock after acquiring an additional 32 shares during the period. Trane Technologies accounts for approximately 1.2% of Prossimo Advisors LLC’s portfolio, making the stock its 17th largest holding. Prossimo Advisors LLC’s holdings in Trane Technologies were worth $1,648,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Global Wealth Strategies & Associates bought a new position in shares of Trane Technologies in the fourth quarter valued at approximately $26,000. MidAtlantic Capital Management Inc. purchased a new stake in Trane Technologies in the 3rd quarter worth approximately $27,000. DT Investment Partners LLC purchased a new stake in Trane Technologies in the 3rd quarter worth approximately $36,000. Sound Income Strategies LLC boosted its holdings in Trane Technologies by 1,314.3% in the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after purchasing an additional 92 shares during the period. Finally, Pittenger & Anderson Inc. purchased a new position in shares of Trane Technologies during the 3rd quarter valued at $39,000. 82.97% of the stock is owned by institutional investors.

Trane Technologies Stock Down 0.2 %

Shares of NYSE:TT opened at $362.54 on Wednesday. Trane Technologies plc has a 12-month low of $270.50 and a 12-month high of $422.00. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The stock’s 50-day moving average price is $376.98 and its 200-day moving average price is $379.31. The stock has a market capitalization of $81.58 billion, a P/E ratio of 32.23, a price-to-earnings-growth ratio of 2.44 and a beta of 1.05.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, topping the consensus estimate 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 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. Investors of record on Friday, March 7th will be issued a dividend of $0.94 per share. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies’s dividend payout ratio is currently 29.87%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on TT shares. Melius Research reissued a “hold” rating and set a $398.00 price objective on shares of Trane Technologies in a research note on Tuesday, January 28th. Hsbc Global Res downgraded Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. HSBC cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective on the stock. in a research report on Thursday, October 31st. Royal Bank of Canada lifted their target price on shares of 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, Melius cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price target for the company. in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Trane Technologies has a consensus rating of “Hold” and an average price target of $415.25.

Insider Buying and Selling at Trane Technologies

In other news, CEO David S. Regnery sold 2,754 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total transaction of $984,114.36. Following the transaction, the chief executive officer now directly owns 132,969 shares of the company’s stock, valued at approximately $47,515,142.46. The trade was a 2.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Christopher J. Kuehn sold 876 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total value of $313,099.92. Following the completion of the sale, the chief financial officer now directly owns 63,841 shares of the company’s stock, valued at $22,818,050.22. The trade was a 1.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,563 shares of company stock valued at $4,388,966 in the last quarter. Company insiders own 0.38% of the company’s stock.

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.