Intech Investment Management LLC Increases Stake in Trane Technologies plc (NYSE:TT)

Intech Investment Management LLC lifted its stake in shares of Trane Technologies plc (NYSE:TT) by 30.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 82,618 shares of the company’s stock after buying an additional 19,217 shares during the quarter. Intech Investment Management LLC’s holdings in Trane Technologies were worth $20,151,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of TT. US Bancorp DE increased its position in shares of Trane Technologies by 2.6% during the third quarter. US Bancorp DE now owns 64,425 shares of the company’s stock valued at $13,073,000 after buying an additional 1,610 shares during the period. MGO One Seven LLC boosted its stake in Trane Technologies by 3.2% during the third quarter. MGO One Seven LLC now owns 3,981 shares of the company’s stock worth $808,000 after acquiring an additional 123 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in Trane Technologies by 17.5% during the third quarter. Nomura Asset Management Co. Ltd. now owns 67,975 shares of the company’s stock worth $13,793,000 after acquiring an additional 10,116 shares in the last quarter. Corient Private Wealth LLC boosted its stake in Trane Technologies by 1.2% during the third quarter. Corient Private Wealth LLC now owns 239,557 shares of the company’s stock worth $48,609,000 after acquiring an additional 2,769 shares in the last quarter. Finally, Signaturefd LLC boosted its stake in Trane Technologies by 7.4% during the third quarter. Signaturefd LLC now owns 5,346 shares of the company’s stock worth $1,085,000 after acquiring an additional 368 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on TT. Wells Fargo & Company boosted their price objective on shares of Trane Technologies from $281.00 to $295.00 and gave the stock an “underweight” rating in a research note on Thursday, May 2nd. JPMorgan Chase & Co. upped their target price on shares of Trane Technologies from $247.00 to $300.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Robert W. Baird upped their target price on shares of Trane Technologies from $315.00 to $344.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Mizuho upped their target price on shares of Trane Technologies from $280.00 to $325.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Finally, TD Cowen upped their target price on shares of Trane Technologies from $325.00 to $360.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $300.54.

Insider Buying and Selling at Trane Technologies

In other news, SVP Evan M. Turtz sold 2,821 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $288.33, for a total value of $813,378.93. Following the completion of the sale, the senior vice president now owns 20,729 shares in the company, valued at approximately $5,976,792.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Evan M. Turtz sold 2,821 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $288.33, for a total value of $813,378.93. Following the completion of the sale, the senior vice president now owns 20,729 shares in the company, valued at approximately $5,976,792.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David S. Regnery sold 6,990 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $286.19, for a total transaction of $2,000,468.10. Following the completion of the sale, the chief executive officer now owns 113,874 shares of the company’s stock, valued at approximately $32,589,600.06. The disclosure for this sale can be found here. Insiders sold 22,979 shares of company stock worth $6,603,372 over the last 90 days. 0.39% of the stock is owned by insiders.

Trane Technologies Price Performance

Shares of NYSE:TT traded up $5.00 during midday trading on Friday, reaching $337.92. 539,795 shares of the company were exchanged, compared to its average volume of 1,020,357. The company has a current ratio of 1.13, a quick ratio of 0.74 and a debt-to-equity ratio of 0.58. The business’s fifty day moving average is $309.17 and its two-hundred day moving average is $272.20. Trane Technologies plc has a one year low of $162.04 and a one year high of $338.09. The stock has a market cap of $76.49 billion, a PE ratio of 36.10, a price-to-earnings-growth ratio of 2.69 and a beta of 1.01.

Trane Technologies (NYSE:TT) last issued its earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.30. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The firm had revenue of $4.22 billion during the quarter, compared to analyst estimates of $3.99 billion. During the same quarter in the prior year, the business earned $1.41 earnings per share. Trane Technologies’s revenue for the quarter was up 15.0% on a year-over-year basis. As a group, analysts predict that Trane Technologies plc will post 10.46 earnings per share for the current year.

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a dividend of $0.84 per share. The ex-dividend date is Friday, June 7th. This represents a $3.36 annualized dividend and a yield of 0.99%. Trane Technologies’s dividend payout ratio (DPR) is currently 35.90%.

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.