Capital Group Investment Management PTE. LTD. Invests $691,000 in Trane Technologies plc $TT

Capital Group Investment Management PTE. LTD. purchased a new position in Trane Technologies plc (NYSE:TT) during the fourth quarter, Holdings Channel reports. The fund purchased 1,775 shares of the company’s stock, valued at approximately $691,000.

Other institutional investors have also recently made changes to their positions in the company. Tucker Asset Management LLC purchased a new stake in shares of Trane Technologies in the 4th quarter valued at $25,000. JPL Wealth Management LLC purchased a new stake in shares of Trane Technologies in the 3rd quarter valued at $32,000. Creative Financial Designs Inc. ADV boosted its position in Trane Technologies by 119.5% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 90 shares of the company’s stock valued at $35,000 after buying an additional 49 shares during the period. KERR FINANCIAL PLANNING Corp purchased a new stake in Trane Technologies during the 3rd quarter valued at $42,000. Finally, Hantz Financial Services Inc. boosted its position in Trane Technologies by 58.2% during the 3rd quarter. Hantz Financial Services Inc. now owns 106 shares of the company’s stock valued at $45,000 after buying an additional 39 shares during the period. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Down 0.1%

Shares of Trane Technologies stock opened at $456.51 on Monday. The firm has a market cap of $100.91 billion, a price-to-earnings ratio of 35.31, a PEG ratio of 2.10 and a beta of 1.20. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77. Trane Technologies plc has a 1 year low of $348.06 and a 1 year high of $503.47. The company has a 50-day moving average of $458.85 and a 200 day moving average of $431.46.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.10. The business had revenue of $4.97 billion during the quarter, compared to analyst estimates of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. Trane Technologies’s revenue was up 6.0% compared to the same quarter last year. During the same period last year, the business earned $2.45 EPS. As a group, sell-side analysts anticipate that Trane Technologies plc will post 14.88 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 4th will be paid a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, September 4th. Trane Technologies’s dividend payout ratio (DPR) is currently 32.48%.

Analyst Upgrades and Downgrades

TT has been the subject of several analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a research report on Monday, April 20th. JPMorgan Chase & Co. increased their price target on shares of Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Barclays upped their price objective on shares of Trane Technologies from $507.00 to $585.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Evercore started coverage on shares of Trane Technologies in a report on Monday, April 13th. They issued an “outperform” rating and a $535.00 price objective for the company. Finally, KeyCorp upped their price objective on shares of Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $506.56.

Insider Transactions at Trane Technologies

In other news, insider Donald E. Simmons sold 4,593 shares of the firm’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the sale, the insider owned 3,819 shares of the company’s stock, valued at $1,909,500. This trade represents a 54.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher J. Kuehn sold 8,619 shares of the firm’s stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $450.00, for a total transaction of $3,878,550.00. Following the sale, the chief financial officer directly owned 60,576 shares in the company, valued at approximately $27,259,200. The trade was a 12.46% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by company insiders.

Trane Technologies Company Profile

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.