Trane Technologies plc (NYSE:TT) Shares Bought by Harbour Investments Inc.

Harbour Investments Inc. grew its position in Trane Technologies plc (NYSE:TT) by 11.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,029 shares of the company’s stock after purchasing an additional 109 shares during the period. Harbour Investments Inc.’s holdings in Trane Technologies were worth $380,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of TT. Envestnet Portfolio Solutions Inc. boosted its position in Trane Technologies by 10.6% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 13,371 shares of the company’s stock valued at $4,939,000 after buying an additional 1,277 shares during the last quarter. one8zero8 LLC acquired a new stake in Trane Technologies during the 4th quarter valued at approximately $369,000. Choate Investment Advisors boosted its holdings in shares of Trane Technologies by 8.7% in the 4th quarter. Choate Investment Advisors now owns 1,832 shares of the company’s stock valued at $677,000 after acquiring an additional 147 shares during the last quarter. Globeflex Capital L P acquired a new stake in shares of Trane Technologies in the fourth quarter worth $19,206,000. Finally, Diversified Enterprises LLC raised its holdings in shares of Trane Technologies by 18.6% during the fourth quarter. Diversified Enterprises LLC now owns 1,486 shares of the company’s stock worth $549,000 after purchasing an additional 233 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Trading Down 0.2 %

TT stock opened at $349.24 on Friday. Trane Technologies plc has a 12-month low of $286.32 and a 12-month high of $422.00. The business’s 50-day moving average is $361.84 and its 200 day moving average is $379.62. 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 has a market cap of $78.33 billion, a price-to-earnings ratio of 31.04, a PEG ratio of 2.50 and a beta of 1.08.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Thursday, January 30th. The company reported $2.61 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, sell-side analysts anticipate 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 will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be paid a $0.94 dividend. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 annualized dividend and a dividend yield of 1.08%. The ex-dividend date is Friday, March 7th. Trane Technologies’s dividend payout ratio (DPR) is currently 33.42%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on TT shares. Barclays cut their price target 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. JPMorgan Chase & Co. raised their target price on Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Wells Fargo & Company decreased their price target on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a report on Friday, January 31st. Northcoast Research initiated coverage on shares of Trane Technologies in a research note on Friday, November 22nd. They set a “buy” rating and a $500.00 price objective on the stock. Finally, UBS Group decreased their target price on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Trane Technologies has a consensus rating of “Hold” and a consensus price target of $413.69.

Insider Buying and Selling

In other news, CFO Christopher J. Kuehn sold 770 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $358.39, for a total transaction of $275,960.30. Following the transaction, the chief financial officer now directly owns 62,221 shares in the company, valued at $22,299,384.19. The trade was a 1.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Mairead Magner sold 198 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total value of $70,806.78. Following the completion of the sale, the senior vice president now directly owns 13,401 shares of the company’s stock, valued at approximately $4,792,331.61. This represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,234 shares of company stock worth $2,588,102. 0.38% of the stock is owned by insiders.

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.