Junto Capital Management LP Takes Position in Trane Technologies plc $TT

Junto Capital Management LP bought a new position in shares of Trane Technologies plc (NYSE:TT) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 162,697 shares of the company’s stock, valued at approximately $68,652,000. Junto Capital Management LP owned about 0.07% of Trane Technologies as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Old Port Advisors grew its stake in Trane Technologies by 3.2% during the 3rd quarter. Old Port Advisors now owns 778 shares of the company’s stock valued at $328,000 after purchasing an additional 24 shares in the last quarter. OneAscent Wealth Management LLC raised its position in shares of Trane Technologies by 1.5% in the 3rd quarter. OneAscent Wealth Management LLC now owns 1,627 shares of the company’s stock valued at $686,000 after purchasing an additional 24 shares in the last quarter. Bridgewater Advisors Inc. raised its position 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 purchasing an additional 24 shares in the last quarter. West Family Investments Inc. boosted its stake in shares of Trane Technologies by 2.3% during the 3rd quarter. West Family Investments Inc. now owns 1,072 shares of the company’s stock valued at $452,000 after buying an additional 24 shares during the last quarter. Finally, Cresset Asset Management LLC grew its position in shares of Trane Technologies by 0.3% during the third quarter. Cresset Asset Management LLC now owns 7,012 shares of the company’s stock worth $2,959,000 after buying an additional 24 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on TT shares. Barclays lifted their price target on shares of Trane Technologies from $505.00 to $507.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. KeyCorp raised shares of 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. Wells Fargo & Company boosted their target price on shares of Trane Technologies from $375.00 to $400.00 and gave the stock an “underweight” rating in a research report on Friday, January 30th. Morgan Stanley cut their target price on shares of Trane Technologies from $550.00 to $535.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 13th. Finally, Citigroup increased their price target on shares of Trane Technologies from $513.00 to $525.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $484.67.

Trane Technologies Trading Up 0.2%

Trane Technologies stock opened at $422.66 on Monday. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $479.37. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $93.55 billion, a price-to-earnings ratio of 32.56, a PEG ratio of 2.22 and a beta of 1.19. The firm has a 50-day moving average price of $426.27 and a two-hundred day moving average price of $417.13.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Thursday, January 29th. The company reported $2.86 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 analyst estimates of $5.09 billion. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. Trane Technologies’s revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the business earned $2.61 earnings per share. Sell-side analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 6th will be given a $1.05 dividend. The ex-dividend date is Friday, March 6th. This represents a $4.20 annualized dividend and a yield of 1.0%. This is an increase from Trane Technologies’s previous quarterly dividend of $0.94. Trane Technologies’s payout ratio is 32.36%.

Insiders Place Their Bets

In other Trane Technologies news, CAO Elizabeth A. Elwell sold 635 shares of the business’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $422.70, for a total transaction of $268,414.50. Following the completion of the transaction, the chief accounting officer owned 7,100 shares in the company, valued at approximately $3,001,170. The trade was a 8.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Christopher J. Kuehn sold 2,389 shares of the stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $462.70, for a total value of $1,105,390.30. Following the completion of the transaction, the chief financial officer directly owned 60,486 shares of the company’s stock, valued at approximately $27,986,872.20. The trade was a 3.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 49,378 shares of company stock worth $21,228,464 over the last 90 days. Insiders own 0.14% of the company’s stock.

About Trane Technologies

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.