International Assets Investment Management LLC Boosts Stock Position in Trane Technologies plc (NYSE:TT)

International Assets Investment Management LLC raised its stake in Trane Technologies plc (NYSE:TT - Free Report) by 24,670.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,034,423 shares of the company's stock after buying an additional 1,030,247 shares during the period. International Assets Investment Management LLC owned approximately 0.45% of Trane Technologies worth $252,296,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. BKM Wealth Management LLC acquired a new stake in Trane Technologies during the fourth quarter worth approximately $25,000. Live Oak Investment Partners acquired a new position in shares of Trane Technologies in the 4th quarter valued at $30,000. Venturi Wealth Management LLC boosted its holdings in shares of Trane Technologies by 139.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 151 shares of the company's stock valued at $31,000 after purchasing an additional 88 shares during the last quarter. 1832 Asset Management L.P. acquired a new position in shares of Trane Technologies in the 1st quarter valued at $34,000. Finally, Avior Wealth Management LLC lifted its holdings in shares of Trane Technologies by 58.0% during the 3rd quarter. Avior Wealth Management LLC now owns 177 shares of the company's stock valued at $36,000 after acquiring an additional 65 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Price Performance

Shares of NYSE TT traded up $7.15 during midday trading on Friday, reaching $304.66. The company's stock had a trading volume of 811,439 shares, compared to its average volume of 1,024,323. The company has a current ratio of 1.13, a quick ratio of 0.78 and a debt-to-equity ratio of 0.57. The company has a 50 day moving average price of $283.96 and a 200 day moving average price of $244.31. Trane Technologies plc has a one year low of $162.04 and a one year high of $306.13. The company has a market cap of $69.18 billion, a price-to-earnings ratio of 34.66, a price-to-earnings-growth ratio of 2.36 and a beta of 1.05.

Trane Technologies (NYSE:TT - Get Free Report) last released its earnings results on Thursday, February 1st. The company reported $2.17 EPS for the quarter, topping analysts' consensus estimates of $2.13 by $0.04. Trane Technologies had a net margin of 11.45% and a return on equity of 32.01%. The business had revenue of $4.42 billion for the quarter, compared to the consensus estimate of $4.43 billion. During the same period in the previous year, the firm earned $1.82 EPS. The business's revenue for the quarter was up 8.6% on a year-over-year basis. On average, equities research analysts expect that Trane Technologies plc will post 10.19 EPS for the current year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $3.36 annualized dividend and a yield of 1.10%. Trane Technologies's dividend payout ratio is presently 38.23%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. The Goldman Sachs Group lifted their target price on shares of Trane Technologies from $253.00 to $287.00 and gave the company a "neutral" rating in a report on Monday, February 5th. Royal Bank of Canada lifted their target price on shares of Trane Technologies from $231.00 to $246.00 and gave the company a "sector perform" rating in a report on Friday, February 2nd. Barclays lifted their price target on shares of Trane Technologies from $286.00 to $325.00 and gave the stock an "overweight" rating in a research note on Tuesday. Wells Fargo & Company lifted their price target on shares of Trane Technologies from $200.00 to $246.00 and gave the stock an "underweight" rating in a research note on Tuesday, December 19th. Finally, Stephens lifted their price target on shares of Trane Technologies from $235.00 to $280.00 and gave the stock an "equal weight" rating in a research note on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $239.92.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, SVP Keith A. Sultana sold 1,983 shares of the company's stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $272.26, for a total value of $539,891.58. Following the transaction, the senior vice president now owns 42,575 shares in the company, valued at approximately $11,591,469.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Trane Technologies news, CEO David S. Regnery sold 6,990 shares of the business's stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $286.19, for a total value of $2,000,468.10. Following the completion of the sale, the chief executive officer now directly owns 113,874 shares of the company's stock, valued at $32,589,600.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Keith A. Sultana sold 1,983 shares of the business's stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $272.26, for a total transaction of $539,891.58. Following the completion of the sale, the senior vice president now directly owns 42,575 shares of the company's stock, valued at $11,591,469.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,874 shares of company stock worth $8,462,825. 0.39% of the stock is currently 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.