Los Angeles Capital Management LLC Has $141.34 Million Holdings in Trane Technologies plc (NYSE:TT)

Los Angeles Capital Management LLC increased its position in shares of Trane Technologies plc (NYSE:TT) by 100.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 579,487 shares of the company’s stock after buying an additional 290,134 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Trane Technologies were worth $141,337,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BKM Wealth Management LLC bought a new position in shares of Trane Technologies in the 4th quarter valued at about $25,000. Venturi Wealth Management LLC grew its stake in shares of Trane Technologies by 139.7% in the third quarter. Venturi Wealth Management LLC now owns 151 shares of the company’s stock valued at $31,000 after buying an additional 88 shares in the last quarter. Ancora Advisors LLC acquired a new position in shares of Trane Technologies during the 3rd quarter worth about $40,000. Rosenberg Matthew Hamilton grew its holdings in Trane Technologies by 27.2% during the fourth quarter. Rosenberg Matthew Hamilton now owns 192 shares of the company’s stock worth $47,000 after purchasing an additional 41 shares during the period. Finally, Operose Advisors LLC bought a new stake in Trane Technologies in the third quarter valued at approximately $53,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Price Performance

Shares of TT stock traded down $0.67 during trading hours on Thursday, reaching $314.31. The company’s stock had a trading volume of 567,877 shares, compared to its average volume of 1,025,767. The firm’s 50 day simple moving average is $294.39 and its 200-day simple moving average is $256.74. The company has a market capitalization of $71.21 billion, a price-to-earnings ratio of 33.65, a PEG ratio of 2.61 and a beta of 1.01. Trane Technologies plc has a fifty-two week low of $162.04 and a fifty-two week high of $327.09. The company has a quick ratio of 0.78, a current ratio of 1.13 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT) last issued its earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.30. The firm had revenue of $4.22 billion for the quarter, compared to the consensus estimate of $3.99 billion. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. The company’s revenue was up 15.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.41 EPS. Sell-side analysts forecast that Trane Technologies plc will post 10.49 earnings per share for the current year.

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Thursday, June 6th. Trane Technologies’s payout ratio is 35.90%.

Insider Activity

In other news, SVP Keith A. Sultana sold 1,983 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $272.26, for a total value of $539,891.58. Following the completion of the transaction, the senior vice president now directly owns 42,575 shares in the company, valued at approximately $11,591,469.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Keith A. Sultana sold 1,983 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $272.26, for a total transaction of $539,891.58. Following the completion of the transaction, the senior vice president now directly owns 42,575 shares of the company’s stock, valued at approximately $11,591,469.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Christopher J. Kuehn sold 3,762 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $286.48, for a total value of $1,077,737.76. Following the transaction, the chief financial officer now directly owns 61,691 shares of the company’s stock, valued at $17,673,237.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,237 shares of company stock worth $8,024,534. Insiders own 0.39% of the company’s stock.

Analysts Set New Price Targets

TT has been the topic of several research analyst reports. The Goldman Sachs Group upped their price objective on Trane Technologies from $287.00 to $326.00 and gave the company a “neutral” rating in a research note on Wednesday. Stephens upped their price objective on Trane Technologies from $310.00 to $320.00 and gave the company an “equal weight” rating in a research note on Wednesday. Mizuho upped their price objective on Trane Technologies from $280.00 to $325.00 and gave the company a “neutral” rating in a research note on Wednesday. Citigroup upped their target price on Trane Technologies from $355.00 to $366.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Barclays upped their target price on Trane Technologies from $286.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $300.54.

Trane Technologies Profile

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.