Trane Technologies plc $TT Shares Acquired by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC increased its stake in Trane Technologies plc (NYSE:TT) by 2.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 108,946 shares of the company’s stock after acquiring an additional 2,571 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Trane Technologies were worth $49,242,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Amundi lifted its holdings in shares of Trane Technologies by 47.8% during the first quarter. Amundi now owns 2,174,396 shares of the company’s stock valued at $906,158,000 after purchasing an additional 703,018 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of Trane Technologies by 10.6% in the 1st quarter. Janus Henderson Group PLC now owns 1,878,018 shares of the company’s stock valued at $782,707,000 after purchasing an additional 180,537 shares during the period. Dimensional Fund Advisors LP increased its stake in Trane Technologies by 3.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,035,241 shares of the company’s stock worth $431,347,000 after purchasing an additional 32,286 shares in the last quarter. Ninety One UK Ltd increased its stake in Trane Technologies by 0.4% in the 3rd quarter. Ninety One UK Ltd now owns 926,668 shares of the company’s stock worth $418,835,000 after purchasing an additional 3,624 shares in the last quarter. Finally, California Public Employees Retirement System increased its stake in Trane Technologies by 51.9% in the 1st quarter. California Public Employees Retirement System now owns 686,691 shares of the company’s stock worth $286,172,000 after purchasing an additional 234,666 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on TT shares. Oppenheimer reaffirmed an “outperform” rating and set a $500.00 price objective on shares of Trane Technologies in a research note on Friday, October 30th. The Goldman Sachs Group upgraded shares of Trane Technologies from a “neutral” rating to a “buy” rating and raised their target price for the stock from $548.00 to $565.00 in a report on Wednesday, October 14th. Evercore lifted their target price on shares of Trane Technologies from $560.00 to $565.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Mizuho boosted their price target on shares of Trane Technologies from $475.00 to $485.00 and gave the company a “neutral” rating in a report on Thursday, October 15th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Trane Technologies in a research report on Friday, October 9th. They issued an “overweight” rating and a $550.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $535.89.

Trane Technologies Stock Performance

Shares of Trane Technologies stock opened at $401.98 on Friday. Trane Technologies plc has a 12 month low of $348.06 and a 12 month high of $505.87. The company has a quick ratio of 0.79, a current ratio of 1.12 and a debt-to-equity ratio of 0.43. The stock has a market cap of $87.99 billion, a PE ratio of 28.39, a price-to-earnings-growth ratio of 1.89 and a beta of 1.19. The business has a fifty day simple moving average of $445.69 and a 200-day simple moving average of $454.46.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Thursday, October 29th. The company reported $4.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.74 by $0.12. The firm had revenue of $6.76 billion during the quarter, compared to the consensus estimate of $6.50 billion. Trane Technologies had a return on equity of 37.26% and a net margin of 13.56%. The business’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same period in the prior year, the business earned $3.88 EPS. On average, sell-side analysts anticipate that Trane Technologies plc will post 15.29 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Friday, December 4th will be paid a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, December 4th. Trane Technologies’s dividend payout ratio is 29.66%.

Insider Activity at Trane Technologies

In other news, CEO David Regnery sold 48,091 shares of the stock in a transaction dated Tuesday, October 6th. The stock was sold at an average price of $480.00, for a total transaction of $23,083,680.00. Following the transaction, the chief executive officer owned 96,951 shares of the company’s stock, valued at approximately $46,536,480. This represents a 33.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.43% of the company’s stock.

Trane Technologies Company Profile

Trane Technologies plc is a global climate innovator that designs, manufactures, and services heating, ventilation, air conditioning, and refrigeration systems. Its products and services support commercial buildings, homes, and transportation applications, including temperature-controlled shipping.

The company’s portfolio includes the Trane brand of HVAC systems and building services, as well as Thermo King equipment for transport refrigeration and climate control. It also offers building controls, energy-efficiency solutions, system maintenance, and related services.

Trane Technologies was formed in 2020 when Ingersoll Rand completed the spin-off of its industrial businesses and adopted the Trane Technologies name.