Twin Capital Management Inc. Takes $567,000 Position in Trane Technologies plc (NYSE:TT)

Twin Capital Management Inc. purchased a new stake in shares of Trane Technologies plc (NYSE:TTGet Rating) during the 1st quarter, Holdings Channel reports. The fund purchased 3,715 shares of the company’s stock, valued at approximately $567,000.

Several other large investors have also recently bought and sold shares of TT. Allspring Global Investments Holdings LLC acquired a new position in Trane Technologies during the fourth quarter valued at $9,313,000. Commonwealth Equity Services LLC raised its position in Trane Technologies by 2.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 30,645 shares of the company’s stock valued at $6,191,000 after buying an additional 869 shares during the period. CWM LLC acquired a new position in Trane Technologies during the fourth quarter valued at $482,000. FDx Advisors Inc. raised its position in Trane Technologies by 44.8% during the fourth quarter. FDx Advisors Inc. now owns 5,109 shares of the company’s stock valued at $1,032,000 after buying an additional 1,581 shares during the period. Finally, Pinnacle Financial Partners Inc. increased its position in Trane Technologies by 860.1% in the 4th quarter. Pinnacle Financial Partners Inc. now owns 2,285 shares of the company’s stock worth $462,000 after purchasing an additional 2,047 shares during the last quarter. 80.55% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $154.87 on Friday. The business has a 50 day moving average price of $134.00 and a 200 day moving average price of $145.38. Trane Technologies plc has a twelve month low of $120.64 and a twelve month high of $204.23. The company has a market cap of $36.22 billion, a price-to-earnings ratio of 25.77, a PEG ratio of 1.84 and a beta of 1.04. The company has a quick ratio of 0.91, a current ratio of 1.31 and a debt-to-equity ratio of 0.75.

Trane Technologies (NYSE:TTGet Rating) last announced its earnings results on Wednesday, August 3rd. The company reported $2.16 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.06. Trane Technologies had a return on equity of 23.67% and a net margin of 10.01%. The firm had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $4.11 billion. During the same quarter in the prior year, the company earned $1.92 EPS. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. Research analysts predict that Trane Technologies plc will post 7.01 earnings per share for the current year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 2nd will be paid a dividend of $0.67 per share. The ex-dividend date is Thursday, September 1st. This represents a $2.68 annualized dividend and a yield of 1.73%. Trane Technologies’s payout ratio is 44.59%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. The Goldman Sachs Group upped their target price on Trane Technologies from $132.00 to $151.00 and gave the stock a “neutral” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft dropped their target price on Trane Technologies from $162.00 to $146.00 and set a “hold” rating on the stock in a research report on Wednesday, July 13th. Jefferies Financial Group dropped their target price on Trane Technologies from $160.00 to $140.00 in a research report on Friday, July 15th. Citigroup upped their target price on Trane Technologies from $160.00 to $177.00 in a research report on Thursday. Finally, Wells Fargo & Company upped their target price on Trane Technologies from $123.00 to $133.00 and gave the stock an “underweight” rating in a research report on Thursday. Two analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $173.06.

Trane Technologies Company Profile

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Trane Technologies plc, together with its subsidiaries, engages in the designing, manufacturing, selling, and servicing of solutions for heating, ventilation, air conditioning, and transport refrigeration. It offers air conditioners, exchangers, and handlers; airside and terminal devices; auxiliary power units; chillers; coils and condensers; gensets; furnaces; heat pumps; home automation products; humidifiers; hybrid and non-diesel transport refrigeration, and ice energy storage solutions; indoor air quality assessments and related products; large and light commercial unitary products; motor replacements; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.

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Institutional Ownership by Quarter for Trane Technologies (NYSE:TT)

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