Bartlett & Co. LLC Buys 115 Shares of Trane Technologies plc (NYSE:TT)

Trane Technologies logoBartlett & Co. LLC boosted its stake in shares of Trane Technologies plc (NYSE:TT – Get Rating) by 155.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 189 shares of the company’s stock after buying an additional 115 shares during the period. Bartlett & Co. LLC’s holdings in Trane Technologies were worth $32,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Corient Capital Partners LLC increased its holdings in shares of Trane Technologies by 7.2% in the 2nd quarter. Corient Capital Partners LLC now owns 3,525 shares of the company’s stock worth $458,000 after purchasing an additional 236 shares in the last quarter. WCG Wealth Advisors LLC bought a new stake in shares of Trane Technologies in the 2nd quarter worth $507,000. Welch & Forbes LLC increased its holdings in shares of Trane Technologies by 15.9% in the 3rd quarter. Welch & Forbes LLC now owns 2,277 shares of the company’s stock worth $329,000 after purchasing an additional 312 shares in the last quarter. Greenleaf Trust increased its holdings in shares of Trane Technologies by 19.0% in the 3rd quarter. Greenleaf Trust now owns 5,631 shares of the company’s stock worth $815,000 after purchasing an additional 901 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its holdings in shares of Trane Technologies by 60.4% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 13,692 shares of the company’s stock worth $1,983,000 after purchasing an additional 5,156 shares in the last quarter. Institutional investors own 81.47% of the company’s stock.

Trane Technologies Price Performance

Shares of Trane Technologies stock opened at $177.53 on Friday. The stock’s 50-day simple moving average is $181.96 and its 200-day simple moving average is $169.74. Trane Technologies plc has a 52 week low of $120.64 and a 52 week high of $196.22. The company has a market capitalization of $40.67 billion, a price-to-earnings ratio of 23.70, a PEG ratio of 2.19 and a beta of 1.00. The company has a quick ratio of 0.77, a current ratio of 1.12 and a debt-to-equity ratio of 0.62.

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Trane Technologies (NYSE:TT – Get Rating) last issued its earnings results on Thursday, February 2nd. The company reported $1.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.18. Trane Technologies has a return on equity of 29.14% and a net margin of 10.98%. The firm had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $3.94 billion. During the same period in the previous year, the firm posted $1.36 earnings per share. The business’s revenue was up 14.1% compared to the same quarter last year. As a group, analysts expect that Trane Technologies plc will post 8.34 earnings per share for the current fiscal year.

Trane Technologies Increases Dividends

The company also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 3rd will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.69%. This is a boost from Trane Technologies’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Thursday, March 2nd. Trane Technologies’s payout ratio is 40.05%.

Insider Transactions at Trane Technologies

In other news, EVP Raymond D. Pittard sold 23,003 shares of Trane Technologies stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $170.42, for a total value of $3,920,171.26. Following the sale, the executive vice president now directly owns 87,718 shares of the company’s stock, valued at $14,948,901.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Trane Technologies news, SVP Evan M. Turtz sold 462 shares of the business’s stock in a transaction that occurred on Friday, February 3rd. The stock was sold at an average price of $186.02, for a total transaction of $85,941.24. Following the sale, the senior vice president now directly owns 17,573 shares of the company’s stock, valued at $3,268,929.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Raymond D. Pittard sold 23,003 shares of the business’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $170.42, for a total value of $3,920,171.26. Following the sale, the executive vice president now directly owns 87,718 shares in the company, valued at $14,948,901.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,970 shares of company stock valued at $6,927,921. 0.74% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on TT shares. Argus lifted their target price on Trane Technologies from $185.00 to $200.00 in a report on Wednesday, February 8th. UBS Group raised their price target on Trane Technologies from $200.00 to $224.00 and gave the stock a “buy” rating in a research note on Tuesday, March 7th. Mizuho raised their price target on Trane Technologies from $175.00 to $185.00 and gave the stock a “neutral” rating in a research note on Friday, February 3rd. Royal Bank of Canada raised their price target on Trane Technologies from $164.00 to $177.00 and gave the stock a “sector performance” rating in a research note on Friday, February 3rd. Finally, Stephens raised their price target on Trane Technologies from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Monday, February 6th. Three equity research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $183.78.

About Trane Technologies

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Trane Technologies Plc is engaged in providing solutions to buildings, homes, and transportation. It operates through the following business segments: Americas, EMEA, and Asia Pacific. The Americas segment includes commercial heating and cooling systems, building controls, and energy services and solutions, residential heating and cooling, and transport refrigeration systems, and solutions in North America and Latin America regions.

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Institutional Ownership by Quarter for Trane Technologies (NYSE:TT)

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