Ethic Inc. Has $9.19 Million Position in Trane Technologies plc (NYSE:TT)

Ethic Inc. raised its stake in shares of Trane Technologies plc (NYSE:TT) by 150.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 24,883 shares of the company’s stock after acquiring an additional 14,932 shares during the quarter. Ethic Inc.’s holdings in Trane Technologies were worth $9,190,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sound Income Strategies LLC lifted its holdings in Trane Technologies by 1,314.3% during the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after purchasing an additional 92 shares during the last quarter. Flagship Wealth Advisors LLC acquired a new stake in shares of Trane Technologies during the fourth quarter worth approximately $37,000. Golden State Wealth Management LLC bought a new position in shares of Trane Technologies in the fourth quarter valued at approximately $39,000. BankPlus Trust Department acquired a new position in shares of Trane Technologies in the 4th quarter worth approximately $45,000. Finally, Centricity Wealth Management LLC bought a new stake in Trane Technologies during the 4th quarter worth approximately $55,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analysts Set New Price Targets

TT has been the subject of several research analyst reports. Stephens upgraded Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 price objective for the company in a research report on Thursday, May 1st. Melius Research reaffirmed a “hold” rating and issued a $398.00 price target on shares of Trane Technologies in a report on Tuesday, January 28th. JPMorgan Chase & Co. increased their price objective on shares of Trane Technologies from $323.00 to $334.00 and gave the stock a “neutral” rating in a report on Thursday, May 1st. Wells Fargo & Company boosted their target price on shares of Trane Technologies from $330.00 to $370.00 and gave the stock an “underweight” rating in a research note on Thursday, May 1st. Finally, HSBC upgraded shares of Trane Technologies from a “hold” rating to a “buy” rating and upped their target price for the stock from $405.00 to $415.00 in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Trane Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $421.07.

Insiders Place Their Bets

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of Trane Technologies stock in a transaction that occurred on Wednesday, April 30th. The shares were 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 approximately $1,365,340. The trade was a 49.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO David S. Regnery sold 2,318 shares of the stock in a transaction on Monday, February 10th. The stock was 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 of the company’s stock, valued at $45,427,059.27. This represents a 1.79 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,977 shares of company stock worth $2,577,061. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Price Performance

Trane Technologies stock opened at $404.32 on Friday. The firm has a market capitalization of $90.17 billion, a P/E ratio of 35.94, a PEG ratio of 2.50 and a beta of 1.14. The business has a 50-day moving average of $350.05 and a 200-day moving average of $372.45. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $422.00.

Trane Technologies (NYSE:TT) last issued its earnings results on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.20 by $0.25. The firm had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.46 billion. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. The business’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.94 earnings per share. On average, equities analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend is Friday, June 6th. Trane Technologies’s payout ratio is presently 31.28%.

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.