Trane Technologies plc $TT Holdings Lifted by Mariner LLC

Mariner LLC raised its position in Trane Technologies plc (NYSE:TT) by 3.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 413,981 shares of the company’s stock after purchasing an additional 14,535 shares during the quarter. Mariner LLC owned about 0.19% of Trane Technologies worth $174,657,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Financial Consulate Inc. acquired a new position in Trane Technologies during the 3rd quarter worth $25,000. Icon Advisers Inc. Co. acquired a new stake in Trane Technologies in the second quarter worth about $26,000. United Community Bank grew its position in Trane Technologies by 134.4% in the 3rd quarter. United Community Bank now owns 75 shares of the company’s stock valued at $32,000 after buying an additional 43 shares in the last quarter. JPL Wealth Management LLC acquired a new position in Trane Technologies during the 3rd quarter valued at about $32,000. Finally, Halbert Hargrove Global Advisors LLC raised its position in shares of Trane Technologies by 34.2% during the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 102 shares of the company’s stock worth $43,000 after buying an additional 26 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Trading Down 0.2%

Shares of NYSE:TT opened at $421.48 on Tuesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.25. The stock has a market capitalization of $93.29 billion, a price-to-earnings ratio of 32.47, a PEG ratio of 2.22 and a beta of 1.19. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $479.37. The company has a 50 day moving average price of $426.89 and a 200 day moving average price of $417.11.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.05. The company had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $5.09 billion. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The firm’s revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.61 earnings per share. On average, research analysts anticipate 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 Tuesday, March 31st. Stockholders of record on Friday, March 6th will be issued a dividend of $1.05 per share. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.94. This represents a $4.20 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, March 6th. Trane Technologies’s dividend payout ratio (DPR) is currently 32.36%.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Oppenheimer raised their price objective on shares of Trane Technologies from $460.00 to $468.00 and gave the company an “outperform” rating in a research note on Friday, January 30th. Citigroup increased their price target on Trane Technologies from $513.00 to $525.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Melius Research upgraded Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price target on the stock in a research report on Wednesday, January 7th. Royal Bank Of Canada upped their price objective on Trane Technologies from $469.00 to $470.00 and gave the company a “sector perform” rating in a report on Friday, January 30th. Finally, KeyCorp upgraded Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 price objective for the company in a report on Monday, December 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $484.67.

Insider Buying and Selling

In related news, insider Donald E. Simmons sold 3,762 shares of the stock in a transaction on Friday, March 6th. The stock was sold at an average price of $422.70, for a total value of $1,590,197.40. Following the completion of the transaction, the insider owned 3,819 shares in the company, valued at $1,614,291.30. This trade represents a 49.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO David S. Regnery sold 36,045 shares of the business’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $422.69, for a total value of $15,235,861.05. Following the sale, the chief executive officer owned 96,948 shares in the company, valued at approximately $40,978,950.12. The trade was a 27.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 49,378 shares of company stock valued at $21,228,464. 0.14% of the stock is currently owned by company insiders.

Trane Technologies Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.