Millstone Evans Group LLC Invests $233,000 in Trane Technologies plc (NYSE:TT)

Millstone Evans Group LLC acquired a new position in shares of Trane Technologies plc (NYSE:TT) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 632 shares of the company’s stock, valued at approximately $233,000.

A number of other institutional investors also recently bought and sold shares of TT. Swedbank AB raised its position in shares of Trane Technologies by 2.8% during the 3rd quarter. Swedbank AB now owns 743,794 shares of the company’s stock valued at $289,135,000 after buying an additional 20,400 shares during the period. Avior Wealth Management LLC increased its stake in Trane Technologies by 18.2% during the third quarter. Avior Wealth Management LLC now owns 1,186 shares of the company’s stock worth $461,000 after acquiring an additional 183 shares during the last quarter. Advisors Asset Management Inc. raised its position in Trane Technologies by 23.7% in the third quarter. Advisors Asset Management Inc. now owns 3,728 shares of the company’s stock valued at $1,449,000 after purchasing an additional 714 shares during the period. Moors & Cabot Inc. lifted its stake in shares of Trane Technologies by 1.9% in the 3rd quarter. Moors & Cabot Inc. now owns 3,674 shares of the company’s stock valued at $1,428,000 after purchasing an additional 67 shares during the last quarter. Finally, Citizens Financial Group Inc. RI grew its holdings in shares of Trane Technologies by 41.9% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 2,405 shares of the company’s stock worth $935,000 after purchasing an additional 710 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Stock Down 0.6 %

TT stock opened at $347.30 on Friday. The company’s 50 day moving average price is $361.24 and its 200 day moving average price is $379.52. The firm has a market capitalization of $77.90 billion, a price-to-earnings ratio of 30.87, a PEG ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a fifty-two week low of $286.32 and a fifty-two week high of $422.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Thursday, January 30th. The company reported $2.61 EPS for the quarter, beating analysts’ consensus estimates 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, equities research analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be paid a $0.94 dividend. The ex-dividend date is Friday, March 7th. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 dividend on an annualized basis and a yield of 1.08%. Trane Technologies’s dividend payout ratio (DPR) is currently 33.42%.

Insiders Place Their Bets

In related news, CEO David S. Regnery sold 2,318 shares of Trane Technologies stock in a transaction on Monday, February 10th. The shares were sold at an average price of $358.17, for a total transaction of $830,238.06. Following the sale, the chief executive officer now directly owns 126,831 shares in the company, valued at $45,427,059.27. This trade represents a 1.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Christopher J. Kuehn sold 876 shares of the business’s stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 63,841 shares of the company’s stock, valued at approximately $22,818,050.22. This trade represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,234 shares of company stock valued at $2,588,102 in the last ninety days. Insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on TT shares. Wells Fargo & Company decreased 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 report on Friday, January 31st. UBS Group lowered their price objective on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a research report on Friday, January 31st. JPMorgan Chase & Co. upped their price target on Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Citigroup dropped their price objective on Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Finally, Northcoast Research initiated coverage on Trane Technologies in a research note on Friday, November 22nd. They set a “buy” rating and a $500.00 target price on the stock. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $413.69.

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.