O Shaughnessy Asset Management LLC Grows Position in Trane Technologies plc (NYSE:TT)

O Shaughnessy Asset Management LLC lifted its holdings in Trane Technologies plc (NYSE:TT) by 36.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,427 shares of the company’s stock after buying an additional 8,121 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Trane Technologies were worth $11,238,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Trane Technologies during the 4th quarter worth approximately $1,117,816,000. Raymond James Financial Inc. purchased a new stake in Trane Technologies in the 4th quarter valued at $611,322,000. Bank Julius Baer & Co. Ltd Zurich increased its stake in shares of Trane Technologies by 455.2% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 427,226 shares of the company’s stock worth $167,977,000 after acquiring an additional 350,277 shares during the last quarter. Nordea Investment Management AB boosted its position in shares of Trane Technologies by 42.9% during the 4th quarter. Nordea Investment Management AB now owns 978,275 shares of the company’s stock valued at $361,874,000 after acquiring an additional 293,916 shares during the last quarter. Finally, Caisse Des Depots ET Consignations purchased a new stake in shares of Trane Technologies in the fourth quarter valued at about $98,560,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Stock Performance

NYSE:TT opened at $337.21 on Tuesday. Trane Technologies plc has a 52 week low of $286.32 and a 52 week high of $422.00. The company has a fifty day simple moving average of $356.79 and a two-hundred day simple moving average of $379.99. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The company has a market cap of $75.63 billion, a price-to-earnings ratio of 29.97, a price-to-earnings-growth 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 earnings per share 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%. As a group, 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 declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 7th were paid a $0.94 dividend. The ex-dividend date was Friday, March 7th. This represents a $3.76 dividend on an annualized basis and a yield of 1.12%. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s payout ratio is currently 33.42%.

Insiders Place Their Bets

In related 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 completion of the sale, the chief financial officer now owns 62,221 shares in the company, valued at $22,299,384.19. The trade was a 1.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David S. Regnery sold 2,754 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total transaction of $984,114.36. Following the completion of the transaction, 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 worth $2,588,102 in the last 90 days. Corporate insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on TT. UBS Group dropped their price target 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. Barclays reduced their target price 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. Citigroup lowered their price target on Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a report on Monday, January 13th. JPMorgan Chase & Co. boosted their price objective on shares of Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Finally, Royal Bank of Canada increased their target price on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research note on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $413.69.

Trane Technologies Profile

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.