Generali Asset Management SPA SGR Makes New Investment in Trane Technologies plc (NYSE:TT)

Generali Asset Management SPA SGR bought a new stake in Trane Technologies plc (NYSE:TT) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 34,787 shares of the company’s stock, valued at approximately $12,849,000.

Other hedge funds have also recently made changes to their positions in the company. Horizon Investments LLC lifted its stake in Trane Technologies by 61.7% in the 4th quarter. Horizon Investments LLC now owns 9,221 shares of the company’s stock valued at $3,406,000 after buying an additional 3,520 shares in the last quarter. Axxcess Wealth Management LLC increased its holdings in shares of Trane Technologies by 176.3% during the 4th quarter. Axxcess Wealth Management LLC now owns 1,445 shares of the company’s stock worth $534,000 after buying an additional 922 shares during the last quarter. Flagship Wealth Advisors LLC acquired a new stake in shares of Trane Technologies during the 4th quarter worth approximately $37,000. Terra Alpha Investments LLC acquired a new stake in Trane Technologies in the 4th quarter valued at approximately $4,393,000. Finally, Parallel Advisors LLC increased its holdings in Trane Technologies by 5.8% in the 4th quarter. Parallel Advisors LLC now owns 2,918 shares of the company’s stock valued at $1,078,000 after purchasing an additional 161 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Price Performance

NYSE:TT opened at $351.46 on Tuesday. Trane Technologies plc has a 1-year low of $286.32 and a 1-year high of $422.00. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The firm has a fifty day simple moving average of $364.02 and a 200 day simple moving average of $380.16. The stock has a market capitalization of $78.83 billion, a PE ratio of 31.24, a P/E/G ratio of 2.50 and a beta of 1.08.

Trane Technologies (NYSE:TT) last posted its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, topping analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. On average, research analysts expect that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be issued a $0.94 dividend. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 annualized dividend and a yield of 1.07%. Trane Technologies’s dividend payout ratio is presently 33.42%.

Insider Activity at Trane Technologies

In other Trane Technologies news, SVP Mairead Magner sold 198 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total value of $70,806.78. Following the completion of the transaction, the senior vice president now owns 13,401 shares in the company, valued at $4,792,331.61. This represents a 1.46 % decrease in their position. The sale 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 on Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total value of $984,114.36. Following the transaction, the chief executive officer now owns 132,969 shares of the company’s stock, valued at $47,515,142.46. The trade was a 2.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,234 shares of company stock worth $2,588,102 over the last ninety days. Insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on TT. Melius Research reissued a “hold” rating and issued a $398.00 price target on shares of Trane Technologies in a research report on Tuesday, January 28th. Barclays cut their price target on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. JPMorgan Chase & Co. lifted their price objective on shares of Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. UBS Group dropped their price target on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Finally, Melius downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective on the stock. in a report on Tuesday, January 28th. One investment 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 an average rating of “Hold” and a consensus target price 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.