Victory Capital Management Inc. Increases Stock Holdings in Trane Technologies plc (NYSE:TT)

Victory Capital Management Inc. raised its position in shares of Trane Technologies plc (NYSE:TT) by 4.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 179,510 shares of the company’s stock after buying an additional 7,874 shares during the quarter. Victory Capital Management Inc. owned about 0.08% of Trane Technologies worth $43,782,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its position in Trane Technologies by 5.4% during the third quarter. JPMorgan Chase & Co. now owns 17,085,662 shares of the company’s stock valued at $3,466,852,000 after buying an additional 880,583 shares during the period. FMR LLC increased its holdings in shares of Trane Technologies by 12.4% during the third quarter. FMR LLC now owns 5,743,154 shares of the company’s stock valued at $1,165,343,000 after acquiring an additional 632,598 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Trane Technologies by 2.6% during the third quarter. Ameriprise Financial Inc. now owns 4,050,779 shares of the company’s stock valued at $821,952,000 after acquiring an additional 103,823 shares in the last quarter. Morgan Stanley increased its holdings in shares of Trane Technologies by 0.6% during the third quarter. Morgan Stanley now owns 2,797,382 shares of the company’s stock valued at $567,617,000 after acquiring an additional 17,758 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Trane Technologies by 4.3% during the third quarter. Northern Trust Corp now owns 2,522,449 shares of the company’s stock valued at $511,830,000 after acquiring an additional 104,653 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Trading Up 0.8 %

Trane Technologies stock opened at $319.29 on Monday. The business has a 50-day simple moving average of $295.83 and a two-hundred day simple moving average of $258.71. The company has a market cap of $72.27 billion, a P/E ratio of 34.11, a P/E/G ratio of 2.54 and a beta of 1.01. Trane Technologies plc has a 52-week low of $162.04 and a 52-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 posted its quarterly earnings data 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 analysts’ expectations of $3.99 billion. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. The business’s quarterly revenue was up 15.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.41 EPS. Analysts predict that Trane Technologies plc will post 10.48 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Thursday, June 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.05%. Trane Technologies’s dividend payout ratio (DPR) is presently 35.90%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TT. Wells Fargo & Company raised their price target on Trane Technologies from $281.00 to $295.00 and gave the company an “underweight” rating in a report on Thursday. Citigroup raised their price target on Trane Technologies from $355.00 to $366.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Stephens raised their price target on Trane Technologies from $310.00 to $320.00 and gave the company an “equal weight” rating in a report on Wednesday, May 1st. Royal Bank of Canada raised their price target on Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a report on Friday, February 2nd. Finally, Robert W. Baird lifted their price objective on Trane Technologies from $315.00 to $344.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Trane Technologies presently has a consensus rating of “Hold” and an average target price of $300.54.

Insider Activity

In other Trane Technologies news, EVP Paul A. Camuti sold 508 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $273.34, for a total value of $138,856.72. Following the completion of the sale, the executive vice president now owns 89,447 shares in the company, valued at approximately $24,449,442.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Trane Technologies news, EVP Paul A. Camuti sold 508 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $273.34, for a total value of $138,856.72. Following the completion of the transaction, the executive vice president now directly owns 89,447 shares in the company, valued at approximately $24,449,442.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Keith A. Sultana sold 1,983 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $272.26, for a total transaction of $539,891.58. Following the sale, the senior vice president now directly owns 42,575 shares of the company’s stock, valued at $11,591,469.50. The disclosure for this sale can be found here. Insiders have sold 28,237 shares of company stock worth $8,024,534 in the last three months. Company insiders own 0.39% of the company’s stock.

About Trane Technologies

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.