Barclays PLC Has $223.33 Million Position in Trane Technologies plc $TT

Barclays PLC increased its stake in shares of Trane Technologies plc (NYSE:TT) by 7.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 529,258 shares of the company’s stock after acquiring an additional 37,271 shares during the quarter. Barclays PLC’s holdings in Trane Technologies were worth $223,326,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TT. Icon Advisers Inc. Co. acquired a new position in Trane Technologies during the 2nd quarter worth approximately $26,000. Financial Consulate Inc. purchased a new position in shares of Trane Technologies in the 3rd quarter worth approximately $25,000. Hantz Financial Services Inc. grew its holdings in shares of Trane Technologies by 1,016.7% in the second quarter. Hantz Financial Services Inc. now owns 67 shares of the company’s stock valued at $29,000 after acquiring an additional 61 shares in the last quarter. United Community Bank increased its position in shares of Trane Technologies by 134.4% during the third quarter. United Community Bank now owns 75 shares of the company’s stock valued at $32,000 after acquiring an additional 43 shares during the last quarter. Finally, Halbert Hargrove Global Advisors LLC boosted its position in Trane Technologies by 34.2% in the third quarter. Halbert Hargrove Global Advisors LLC now owns 102 shares of the company’s stock worth $43,000 after purchasing an additional 26 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Trane Technologies Trading Down 3.1%

Shares of TT stock opened at $423.04 on Friday. The business has a 50-day moving average price of $422.75 and a two-hundred day moving average price of $417.13. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $479.37. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. The firm has a market cap of $93.63 billion, a P/E ratio of 32.59, a price-to-earnings-growth ratio of 2.30 and a beta of 1.19.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Thursday, January 29th. The company reported $2.86 EPS for the quarter, beating the consensus estimate of $2.81 by $0.05. The firm had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.09 billion. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The company’s revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the company earned $2.61 EPS. Equities analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be given a dividend of $1.05 per share. The ex-dividend date is Friday, March 6th. This is an increase from Trane Technologies’s previous quarterly dividend of $0.94. This represents a $4.20 dividend on an annualized basis and a yield of 1.0%. Trane Technologies’s dividend payout ratio (DPR) is 28.97%.

Insider Buying and Selling at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 2,389 shares of the company’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $462.70, for a total value of $1,105,390.30. Following the completion of the sale, the chief financial officer owned 60,486 shares of the company’s stock, valued at approximately $27,986,872.20. This represents a 3.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Donald E. Simmons sold 822 shares of the stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $462.57, for a total transaction of $380,232.54. Following the transaction, the insider directly owned 3,819 shares in the company, valued at approximately $1,766,554.83. This represents a 17.71% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 8,936 shares of company stock valued at $4,133,991. Insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

TT has been the subject of several research analyst reports. Wells Fargo & Company raised their target price on Trane Technologies from $375.00 to $400.00 and gave the company an “underweight” rating in a research report on Friday, January 30th. Melius Research upgraded shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price target for the company in a research report on Wednesday, January 7th. Morgan Stanley lowered their price objective on shares of Trane Technologies from $550.00 to $535.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 13th. Royal Bank Of Canada increased their target price on shares of Trane Technologies from $469.00 to $470.00 and gave the company a “sector perform” rating in a research report on Friday, January 30th. Finally, KeyCorp upgraded shares of Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 price target for the company in a research note on Monday, December 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Trane Technologies has an average rating of “Moderate Buy” and a consensus price target of $484.67.

About Trane Technologies

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.