Cullen Investment Group LTD. Has $7.80 Million Stock Position in Trane Technologies plc $TT

Cullen Investment Group LTD. reduced its stake in Trane Technologies plc (NYSE:TT) by 21.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,430 shares of the company’s stock after selling 5,616 shares during the period. Trane Technologies accounts for approximately 1.0% of Cullen Investment Group LTD.’s holdings, making the stock its 26th largest holding. Cullen Investment Group LTD.’s holdings in Trane Technologies were worth $7,798,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Norges Bank acquired a new position in Trane Technologies in the second quarter valued at about $1,356,065,000. JPMorgan Chase & Co. grew its position in shares of Trane Technologies by 10.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company’s stock worth $6,550,975,000 after buying an additional 1,433,563 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in shares of Trane Technologies by 229.3% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,752,551 shares of the company’s stock worth $766,583,000 after buying an additional 1,220,388 shares during the period. Corient Private Wealth LLC increased its stake in shares of Trane Technologies by 135.4% in the 2nd quarter. Corient Private Wealth LLC now owns 735,589 shares of the company’s stock valued at $321,757,000 after acquiring an additional 423,090 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in shares of Trane Technologies by 13,460.8% in the 4th quarter. SG Americas Securities LLC now owns 423,504 shares of the company’s stock valued at $164,828,000 after acquiring an additional 420,381 shares during the period. Institutional investors own 82.97% of the company’s stock.

Insider Activity at Trane Technologies

In other news, CEO David S. Regnery sold 36,045 shares of the business’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $422.69, for a total value of $15,235,861.05. Following the sale, the chief executive officer directly owned 96,948 shares in the company, valued at $40,978,950.12. The trade was a 27.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Donald E. Simmons sold 3,762 shares of the company’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $422.70, for a total value of $1,590,197.40. Following the transaction, the insider directly owned 3,819 shares of the company’s stock, valued at $1,614,291.30. This represents a 49.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 49,378 shares of company stock valued at $21,228,464 in the last quarter. 0.14% of the stock is currently owned by company insiders.

Trane Technologies Price Performance

NYSE TT opened at $434.47 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.25. The stock has a market cap of $96.16 billion, a price-to-earnings ratio of 33.47, a PEG ratio of 2.26 and a beta of 1.19. The business has a 50 day simple moving average of $432.81 and a 200 day simple moving average of $417.68. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $479.37.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 13.69% and a return on equity of 36.34%. The business’s revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.61 earnings per share. Analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 6th will be given a $1.05 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $4.20 annualized dividend and a yield of 1.0%. This is an increase from Trane Technologies’s previous quarterly dividend of $0.94. Trane Technologies’s payout ratio is presently 32.36%.

Wall Street Analysts Forecast Growth

TT has been the topic of several recent analyst reports. Oppenheimer lifted their price objective on shares of Trane Technologies from $460.00 to $468.00 and gave the stock an “outperform” rating in a research note on Friday, January 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a report on Wednesday, January 21st. Morgan Stanley reduced their price target 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 boosted their price target on shares of Trane Technologies from $469.00 to $470.00 and gave the company a “sector perform” rating in a report on Friday, January 30th. Finally, Barclays upped their price objective on shares of Trane Technologies from $505.00 to $507.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Trane Technologies currently 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.