Lbp Am Sa Has $2.86 Million Stock Position in Trane Technologies plc (NYSE:TT)

Lbp Am Sa reduced its holdings in shares of Trane Technologies plc (NYSE:TT) by 35.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 7,732 shares of the company’s stock after selling 4,291 shares during the period. Lbp Am Sa’s holdings in Trane Technologies were worth $2,856,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in TT. Tidal Investments LLC boosted its holdings in Trane Technologies by 22.2% during the third quarter. Tidal Investments LLC now owns 15,827 shares of the company’s stock worth $6,152,000 after purchasing an additional 2,874 shares during the last quarter. Synovus Financial Corp boosted its stake in shares of Trane Technologies by 16.8% in the 3rd quarter. Synovus Financial Corp now owns 8,828 shares of the company’s stock worth $3,431,000 after buying an additional 1,271 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in shares of Trane Technologies in the fourth quarter valued at approximately $468,000. HB Wealth Management LLC increased its position in shares of Trane Technologies by 14.3% during the fourth quarter. HB Wealth Management LLC now owns 5,689 shares of the company’s stock valued at $2,101,000 after acquiring an additional 711 shares during the last quarter. Finally, Crossmark Global Holdings Inc. lifted its holdings in Trane Technologies by 31.2% during the fourth quarter. Crossmark Global Holdings Inc. now owns 29,057 shares of the company’s stock worth $10,733,000 after acquiring an additional 6,910 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on TT shares. Citigroup decreased their target price on Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Northcoast Research started coverage on Trane Technologies in a research report on Friday, November 22nd. They set a “buy” rating and a $500.00 target price for the company. Melius Research reaffirmed a “hold” rating and set a $398.00 target price on shares of Trane Technologies in a research report on Tuesday, January 28th. Wells Fargo & Company decreased their target price on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a research report on Friday, January 31st. Finally, UBS Group decreased their target price on Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a research report on Friday, January 31st. One equities research 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. Based on data from MarketBeat, Trane Technologies presently has an average rating of “Hold” and a consensus target price of $413.69.

Trane Technologies Stock Up 2.8 %

Shares of NYSE TT opened at $348.48 on Friday. Trane Technologies plc has a 52 week low of $286.32 and a 52 week high of $422.00. The business has a 50-day simple moving average of $364.65 and a two-hundred day simple moving average of $379.99. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The company has a market cap of $78.16 billion, a P/E ratio of 30.98, a P/E/G ratio of 2.50 and a beta of 1.08.

Trane Technologies (NYSE:TT) last issued its earnings results on Thursday, January 30th. The company reported $2.61 EPS for the quarter, topping the consensus estimate of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. Research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share 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. Shareholders of record on Friday, March 7th will be paid a $0.94 dividend. The ex-dividend date is Friday, March 7th. This represents a $3.76 annualized dividend and a yield of 1.08%. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s dividend payout ratio (DPR) is currently 33.42%.

Insiders Place Their Bets

In other Trane Technologies news, CEO David S. Regnery sold 2,754 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total value of $984,114.36. Following the sale, the chief executive officer now owns 132,969 shares of the company’s stock, valued at $47,515,142.46. This trade represents a 2.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Christopher J. Kuehn sold 876 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.42, for a total value of $313,099.92. Following the completion of the sale, the chief financial officer now directly owns 63,841 shares in the company, valued at approximately $22,818,050.22. The trade was a 1.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,234 shares of company stock worth $2,588,102 in the last quarter. 0.38% of the stock is owned by company insiders.

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.