Diversified Enterprises LLC Buys 233 Shares of Trane Technologies plc (NYSE:TT)

Diversified Enterprises LLC boosted its stake in Trane Technologies plc (NYSE:TT) by 18.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,486 shares of the company’s stock after purchasing an additional 233 shares during the quarter. Diversified Enterprises LLC’s holdings in Trane Technologies were worth $549,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Tidal Investments LLC increased its holdings in Trane Technologies by 22.2% in the third quarter. Tidal Investments LLC now owns 15,827 shares of the company’s stock valued at $6,152,000 after purchasing an additional 2,874 shares during the last quarter. Synovus Financial Corp grew its stake in Trane Technologies by 16.8% in the third quarter. Synovus Financial Corp now owns 8,828 shares of the company’s stock valued at $3,431,000 after acquiring an additional 1,271 shares during the period. Ameritas Advisory Services LLC acquired a new position in Trane Technologies in the fourth quarter valued at about $468,000. HB Wealth Management LLC grew its stake in Trane Technologies by 14.3% in the fourth quarter. HB Wealth Management LLC now owns 5,689 shares of the company’s stock valued at $2,101,000 after acquiring an additional 711 shares during the period. Finally, King Wealth Management Group acquired a new position in Trane Technologies in the third quarter valued at about $1,879,000. Institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Melius Research reissued a “hold” rating and issued a $398.00 target price on shares of Trane Technologies in a research note on Tuesday, January 28th. UBS Group reduced their price objective on Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Wells Fargo & Company reduced 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. Citigroup reduced their price objective on Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Finally, Royal Bank of Canada upped their price objective on Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research report on Friday, January 3rd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $413.69.

Insider Buying and Selling

In related news, CEO David S. Regnery sold 2,318 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $358.17, for a total transaction of $830,238.06. Following the sale, the chief executive officer now owns 126,831 shares of the company’s stock, valued at $45,427,059.27. This represents a 1.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Christopher J. Kuehn sold 876 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were 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 in the company, valued at approximately $22,818,050.22. This represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,234 shares of company stock valued at $2,588,102 over the last 90 days. 0.38% of the stock is owned by corporate insiders.

Trane Technologies Price Performance

NYSE:TT opened at $348.48 on Friday. The firm has a market capitalization of $78.16 billion, a price-to-earnings ratio of 30.98, 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 12-month low of $286.32 and a 12-month high of $422.00. The stock’s 50 day moving average price is $364.65 and its two-hundred day moving average price is $379.80.

Trane Technologies (NYSE:TT) last announced 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, analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be given a dividend of $0.94 per share. 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 dividend payout ratio is currently 33.42%.

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.