Trane Technologies plc $TT Shares Acquired by IFM Investors Pty Ltd

IFM Investors Pty Ltd increased its holdings in Trane Technologies plc (NYSE:TT) by 8.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,356 shares of the company’s stock after acquiring an additional 3,578 shares during the quarter. IFM Investors Pty Ltd’s holdings in Trane Technologies were worth $20,152,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of TT. Tucker Asset Management LLC acquired a new position in Trane Technologies in the fourth quarter valued at $25,000. Hilton Head Capital Partners LLC purchased a new position in shares of Trane Technologies during the fourth quarter worth about $32,000. JPL Wealth Management LLC purchased a new position in shares of Trane Technologies during the third quarter worth about $32,000. Kemnay Advisory Services Inc. acquired a new position in Trane Technologies in the 4th quarter valued at about $34,000. Finally, Creative Financial Designs Inc. ADV raised its stake in Trane Technologies by 119.5% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 90 shares of the company’s stock valued at $35,000 after acquiring an additional 49 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

TT has been the topic of several analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a research note on Monday, April 20th. KeyCorp upped their price target on Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Royal Bank Of Canada lifted their price objective on shares of Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a research report on Friday, May 1st. Barclays boosted their price objective on shares of Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Finally, BNP Paribas Exane started coverage on shares of Trane Technologies in a research report on Tuesday, April 14th. They set an “outperform” rating and a $550.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Trane Technologies currently has an average rating of “Moderate Buy” and an average price target of $509.12.

Trane Technologies Stock Performance

Shares of TT stock opened at $490.94 on Wednesday. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. The stock has a 50 day simple moving average of $470.56 and a 200-day simple moving average of $439.48. The company has a market cap of $108.52 billion, a price-to-earnings ratio of 37.97, a price-to-earnings-growth ratio of 2.21 and a beta of 1.20. Trane Technologies plc has a 12-month low of $348.06 and a 12-month high of $505.87.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.10. The firm had revenue of $4.97 billion for the quarter, compared to the consensus estimate of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.45 earnings per share. On average, equities analysts forecast that Trane Technologies plc will post 14.88 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 4th will be given a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, September 4th. Trane Technologies’s payout ratio is presently 32.48%.

Insiders Place Their Bets

In other news, insider Donald E. Simmons sold 4,593 shares of the stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $500.00, for a total value of $2,296,500.00. Following the completion of the transaction, the insider owned 3,819 shares in the company, valued at $1,909,500. This trade represents a 54.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher J. Kuehn sold 8,619 shares of the firm’s stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $450.00, for a total transaction of $3,878,550.00. Following the completion of the sale, the chief financial officer owned 60,576 shares of the company’s stock, valued at $27,259,200. This trade represents a 12.46% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.43% 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.