Smartleaf Asset Management LLC Has $607,000 Holdings in Trane Technologies plc (NYSE:TT)

Smartleaf Asset Management LLC boosted its stake in shares of Trane Technologies plc (NYSE:TT) by 61.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,637 shares of the company’s stock after purchasing an additional 625 shares during the quarter. Smartleaf Asset Management LLC’s holdings in Trane Technologies were worth $607,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in TT. Massachusetts Financial Services Co. MA raised its stake in shares of Trane Technologies by 35.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock valued at $991,460,000 after buying an additional 671,691 shares in the last quarter. FMR LLC raised its stake in shares of Trane Technologies by 4.0% in the 3rd quarter. FMR LLC now owns 10,337,672 shares of the company’s stock valued at $4,018,563,000 after buying an additional 397,537 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of Trane Technologies by 42.9% in the 4th quarter. Nordea Investment Management AB now owns 978,275 shares of the company’s stock valued at $361,874,000 after buying an additional 293,916 shares in the last quarter. Proficio Capital Partners LLC raised its stake in shares of Trane Technologies by 47,293.6% in the 4th quarter. Proficio Capital Partners LLC now owns 253,082 shares of the company’s stock valued at $93,476,000 after buying an additional 252,548 shares in the last quarter. Finally, AustralianSuper Pty Ltd raised its stake in shares of Trane Technologies by 470.9% in the 4th quarter. AustralianSuper Pty Ltd now owns 179,794 shares of the company’s stock valued at $66,407,000 after buying an additional 148,302 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Transactions at Trane Technologies

In related news, CFO Christopher J. Kuehn sold 876 shares of Trane Technologies stock in a transaction that occurred on Tuesday, February 4th. The shares were 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 $22,818,050.22. This trade represents a 1.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Mairead Magner sold 4,329 shares of Trane Technologies stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the transaction, the senior vice president now directly owns 12,893 shares in the company, valued at $5,363,488. The trade was a 25.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,563 shares of company stock worth $4,388,966 in the last quarter. 0.38% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on TT. Royal Bank of Canada upped their target price on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a report on Friday, January 3rd. UBS Group lowered their target price on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a report on Friday, January 31st. JPMorgan Chase & Co. upped their target price on shares of Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Citigroup lowered their target price on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Finally, Barclays upped their target price on shares of Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, Trane Technologies currently has an average rating of “Hold” and a consensus target price of $415.25.

Trane Technologies Stock Down 2.4 %

Shares of NYSE:TT opened at $345.30 on Tuesday. Trane Technologies plc has a one year low of $279.00 and a one year high of $422.00. The company has a 50 day moving average of $370.62 and a 200-day moving average of $380.68. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. The stock has a market cap of $77.45 billion, a price-to-earnings ratio of 30.69, a P/E/G ratio of 2.50 and a beta of 1.05.

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 net margin of 12.94% and a return on equity of 35.37%. On average, sell-side analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current 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 given a dividend of $0.94 per share. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date is Friday, March 7th. This represents a $3.76 annualized dividend and a dividend yield of 1.09%. Trane Technologies’s payout ratio is currently 29.87%.

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.