Intech Investment Management LLC Acquires 3,021 Shares of Trane Technologies plc $TT

Intech Investment Management LLC grew its holdings in shares of Trane Technologies plc (NYSE:TT) by 41.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,241 shares of the company’s stock after buying an additional 3,021 shares during the period. Intech Investment Management LLC’s holdings in Trane Technologies were worth $4,321,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the stock. King Luther Capital Management Corp boosted its stake in Trane Technologies by 1.3% during the second quarter. King Luther Capital Management Corp now owns 1,942 shares of the company’s stock worth $849,000 after acquiring an additional 24 shares in the last quarter. Old Port Advisors raised its holdings in shares of Trane Technologies by 3.2% during the third quarter. Old Port Advisors now owns 778 shares of the company’s stock valued at $328,000 after purchasing an additional 24 shares during the period. OneAscent Wealth Management LLC boosted its position in shares of Trane Technologies by 1.5% during the 3rd quarter. OneAscent Wealth Management LLC now owns 1,627 shares of the company’s stock worth $686,000 after purchasing an additional 24 shares in the last quarter. Bridgewater Advisors Inc. grew its stake in shares of Trane Technologies by 3.7% in the 3rd quarter. Bridgewater Advisors Inc. now owns 670 shares of the company’s stock valued at $285,000 after buying an additional 24 shares during the period. Finally, Busey Bank increased its position in Trane Technologies by 3.0% in the 3rd quarter. Busey Bank now owns 871 shares of the company’s stock valued at $368,000 after buying an additional 25 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Insider Transactions at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 822 shares of the firm’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $462.57, for a total value of $380,232.54. Following the completion of the sale, the insider directly owned 3,819 shares of the company’s stock, valued at $1,766,554.83. This trade represents a 17.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Elizabeth A. Elwell sold 137 shares of the company’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $462.48, for a total value of $63,359.76. Following the transaction, the chief accounting officer directly owned 7,100 shares in the company, valued at $3,283,608. This represents a 1.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 8,936 shares of company stock valued at $4,133,991 in the last three months. 0.14% of the stock is currently owned by company insiders.

Trane Technologies Trading Up 1.0%

Shares of Trane Technologies stock opened at $461.71 on Monday. The firm has a market cap of $102.19 billion, a PE ratio of 35.57, a P/E/G ratio of 2.43 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 debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.92. The stock has a fifty day moving average price of $417.67 and a 200-day moving average price of $416.42.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.05. The company had revenue of $5.14 billion during the quarter, compared to analyst estimates of $5.09 billion. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.61 earnings per share. 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 disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 6th will be paid a $1.05 dividend. The ex-dividend date is Friday, March 6th. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.94. This represents a $4.20 annualized dividend and a yield of 0.9%. Trane Technologies’s dividend payout ratio (DPR) is currently 28.97%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Bank of America upgraded Trane Technologies from a “neutral” rating to a “buy” rating and increased their target price for the stock from $490.00 to $550.00 in a report on Thursday, November 13th. Melius Research raised shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price objective on the stock in a research note on Wednesday, January 7th. Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a research report on Wednesday, January 21st. Wells Fargo & Company upped their target price on shares of Trane Technologies from $375.00 to $400.00 and gave the stock an “underweight” rating in a report on Friday, January 30th. Finally, Morgan Stanley cut their price target on Trane Technologies from $550.00 to $535.00 and set an “overweight” rating for the company in a research note on Tuesday, January 13th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $484.67.

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.