CWA Asset Management Group LLC lifted its holdings in shares of Trane Technologies plc (NYSE:TT – Free Report) by 19.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,135 shares of the company’s stock after purchasing an additional 183 shares during the period. CWA Asset Management Group LLC’s holdings in Trane Technologies were worth $382,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Trane Technologies in the 4th quarter worth approximately $1,117,816,000. GAMMA Investing LLC raised its stake in shares of Trane Technologies by 35,458.2% in the first quarter. GAMMA Investing LLC now owns 2,015,792 shares of the company’s stock valued at $679,161,000 after buying an additional 2,010,123 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Trane Technologies in the fourth quarter valued at $611,322,000. Northern Trust Corp raised its stake in Trane Technologies by 20.1% in the 4th quarter. Northern Trust Corp now owns 2,567,527 shares of the company’s stock valued at $948,316,000 after acquiring an additional 429,953 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Trane Technologies in the 4th quarter valued at about $147,251,000. 82.97% of the stock is currently owned by institutional investors.
Trane Technologies Trading Down 0.1%
Trane Technologies stock opened at $419.25 on Friday. The stock has a market cap of $93.50 billion, a P/E ratio of 34.88, a PEG ratio of 2.76 and a beta of 1.16. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $436.61. The firm’s fifty day moving average price is $401.13 and its 200-day moving average price is $376.94. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.74 and a current ratio of 1.09.
Trane Technologies Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 0.90%. The ex-dividend date is Friday, September 5th. Trane Technologies’s dividend payout ratio (DPR) is 31.28%.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on the company. Stephens upgraded Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 price objective on the stock in a research note on Thursday, May 1st. Robert W. Baird boosted their price target on shares of Trane Technologies from $360.00 to $396.00 and gave the company a “neutral” rating in a research report on Thursday, May 1st. HSBC raised shares of Trane Technologies from a “hold” rating to a “buy” rating and boosted their target price for the company from $405.00 to $415.00 in a report on Friday, April 25th. Citigroup boosted their target price on shares of Trane Technologies from $415.00 to $445.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. boosted their price objective on Trane Technologies from $334.00 to $400.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. One analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $427.47.
Get Our Latest Stock Report on TT
Insider Transactions at Trane Technologies
In related news, insider Donald E. Simmons sold 3,571 shares of the stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total value of $1,356,980.00. Following the transaction, the insider now owns 3,593 shares of the company’s stock, valued at $1,365,340. This represents a 49.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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.
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