Essential Planning LLC. Increases Holdings in Trane Technologies plc (NYSE:TT)

Essential Planning LLC. raised its position in Trane Technologies plc (NYSE:TT) by 6,400.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 47,970 shares of the company’s stock after buying an additional 47,232 shares during the period. Essential Planning LLC.’s holdings in Trane Technologies were worth $19,037,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Swedbank AB raised its stake in Trane Technologies by 2.8% during the third quarter. Swedbank AB now owns 743,794 shares of the company’s stock worth $289,135,000 after acquiring an additional 20,400 shares during the period. CWA Asset Management Group LLC acquired a new position in Trane Technologies in the third quarter worth approximately $386,000. Assetmark Inc. grew its position in Trane Technologies by 1.8% during the 3rd quarter. Assetmark Inc. now owns 18,801 shares of the company’s stock worth $7,309,000 after purchasing an additional 327 shares in the last quarter. Sigma Planning Corp grew its position in Trane Technologies by 22.4% during the 3rd quarter. Sigma Planning Corp now owns 4,890 shares of the company’s stock worth $1,901,000 after purchasing an additional 896 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Trane Technologies during the 3rd quarter valued at $84,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Melius lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective for the company. in a research note on Tuesday, January 28th. Barclays dropped their price objective on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a report on Monday. Wells Fargo & Company lowered their target price on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a research note on Friday, January 31st. Northcoast Research assumed 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, Melius Research reiterated a “hold” rating and set a $398.00 target price on shares of Trane Technologies in a research report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $413.69.

Trane Technologies Price Performance

NYSE TT opened at $334.57 on Wednesday. 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 firm’s 50-day simple moving average is $366.61 and its two-hundred day simple moving average is $380.39. The company has a market cap of $75.04 billion, a PE ratio of 29.74, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a 52 week low of $281.46 and a 52 week high of $422.00.

Trane Technologies (NYSE:TT) last issued its 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 net margin of 12.94% and a return on equity of 35.37%. Research analysts predict 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. Stockholders of record on Friday, March 7th will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.12%. The ex-dividend date is Friday, March 7th. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s payout ratio is currently 33.42%.

Insider Buying and Selling

In related news, 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 value of $984,114.36. Following the completion of the sale, the chief executive officer now directly owns 132,969 shares of the company’s stock, valued at approximately $47,515,142.46. This represents a 2.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Christopher J. Kuehn sold 770 shares of the company’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 value of $275,960.30. Following the completion of the transaction, the chief financial officer now owns 62,221 shares of the company’s stock, valued at $22,299,384.19. The trade was a 1.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,234 shares of company stock worth $2,588,102 in the last quarter. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Company 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.