Jacobi Capital Management LLC Has $1.13 Million Position in Trane Technologies plc (NYSE:TT)

Jacobi Capital Management LLC raised its position in shares of Trane Technologies plc (NYSE:TT) by 9.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,055 shares of the company’s stock after purchasing an additional 271 shares during the quarter. Jacobi Capital Management LLC’s holdings in Trane Technologies were worth $1,129,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Global Wealth Strategies & Associates acquired a new stake in Trane Technologies during the 4th quarter valued at $26,000. MidAtlantic Capital Management Inc. acquired a new stake in Trane Technologies during the 3rd quarter valued at $27,000. Sound Income Strategies LLC raised its stake 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 period. Pittenger & Anderson Inc. acquired a new stake in Trane Technologies during the 3rd quarter valued at $39,000. Finally, Golden State Wealth Management LLC acquired a new stake in Trane Technologies during the 4th quarter valued at $39,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Stock Up 2.9 %

TT stock opened at $354.22 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. Trane Technologies plc has a 52-week low of $279.00 and a 52-week high of $422.00. The company has a 50-day moving average of $371.26 and a two-hundred day moving average of $380.45. The stock has a market capitalization of $79.45 billion, a price-to-earnings ratio of 31.49, a price-to-earnings-growth ratio of 2.50 and a beta of 1.05.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (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%. As a group, equities research analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.06%. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date is Friday, March 7th. Trane Technologies’s dividend payout ratio is 29.87%.

Insider Buying and Selling at Trane Technologies

In related news, CFO Christopher J. Kuehn sold 770 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $358.39, for a total value of $275,960.30. Following the completion of the sale, the chief financial officer now owns 62,221 shares in the company, valued at approximately $22,299,384.19. This trade represents a 1.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Mairead Magner sold 198 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total transaction of $70,806.78. Following the completion of the sale, the senior vice president now owns 13,401 shares of the company’s stock, valued at approximately $4,792,331.61. The trade was a 1.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,563 shares of company stock worth $4,388,966 over the last ninety days. Company insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of 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 target on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Wells Fargo & Company dropped their price target on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a research note on Friday, January 31st. Barclays upped their price target on shares of Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Finally, Melius downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price target on the stock. in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Trane Technologies presently has a consensus rating of “Hold” and a consensus price target of $415.25.

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.