OMERS ADMINISTRATION Corp Has $6.09 Million Holdings in Trane Technologies plc $TT

OMERS ADMINISTRATION Corp lifted its position in shares of Trane Technologies plc (NYSE:TT) by 53.9% during the 1st quarter, HoldingsChannel reports. The fund owned 14,621 shares of the company’s stock after purchasing an additional 5,119 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Trane Technologies were worth $6,093,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Brighton Jones LLC raised its position in Trane Technologies by 60.0% during the 4th quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock worth $2,288,000 after purchasing an additional 2,323 shares during the last quarter. Sivia Capital Partners LLC grew its position in shares of Trane Technologies by 22.4% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,665 shares of the company’s stock valued at $728,000 after buying an additional 305 shares during the last quarter. Schnieders Capital Management LLC. bought a new stake in shares of Trane Technologies in the 2nd quarter valued at about $227,000. Nebula Research & Development LLC increased its stake in shares of Trane Technologies by 178.0% in the second quarter. Nebula Research & Development LLC now owns 2,371 shares of the company’s stock valued at $1,037,000 after buying an additional 1,518 shares during the period. Finally, Treasurer of the State of North Carolina increased its stake in shares of Trane Technologies by 0.5% in the second quarter. Treasurer of the State of North Carolina now owns 104,140 shares of the company’s stock valued at $45,552,000 after buying an additional 497 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on TT shares. BNP Paribas Exane assumed coverage on Trane Technologies in a research note on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 price objective on the stock. Sanford C. Bernstein set a $555.00 price target on shares of Trane Technologies in a report on Thursday, July 9th. Citigroup boosted their price target on shares of Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Royal Bank Of Canada increased their price objective on shares of Trane Technologies from $440.00 to $501.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Trane Technologies in a research report on Friday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Trane Technologies has an average rating of “Moderate Buy” and an average price target of $516.67.

Trane Technologies Trading Up 0.0%

NYSE:TT opened at $481.09 on Monday. Trane Technologies plc has a 12 month low of $348.06 and a 12 month high of $505.87. 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 market capitalization of $106.34 billion, a price-to-earnings ratio of 37.21, a PEG ratio of 2.21 and a beta of 1.19. The firm has a fifty day simple moving average of $470.13 and a two-hundred day simple moving average of $450.29.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.10. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The business had revenue of $4.97 billion for the quarter, compared to analyst estimates of $4.81 billion. During the same quarter in the prior year, the company earned $2.45 earnings per share. The company’s quarterly revenue was up 6.0% on a year-over-year basis. Analysts expect that Trane Technologies plc will post 14.89 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

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

Insider Activity

In related news, insider Donald E. Simmons sold 4,593 shares of the business’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the transaction, the insider directly owned 3,819 shares in the company, valued at approximately $1,909,500. The trade was a 54.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by insiders.

Trane Technologies Company 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.