Capital International Investors Acquires New Stake in Trane Technologies plc $TT

Capital International Investors bought a new position in shares of Trane Technologies plc (NYSE:TT) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 834,119 shares of the company’s stock, valued at approximately $324,639,000. Capital International Investors owned approximately 0.38% of Trane Technologies at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of TT. Norges Bank acquired a new position in Trane Technologies during the 4th quarter worth $1,163,124,000. JPMorgan Chase & Co. grew its stake in 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 purchasing an additional 1,433,563 shares in the last quarter. Corient Private Wealth LLC grew its stake in Trane Technologies by 135.4% during the 2nd quarter. Corient Private Wealth LLC now owns 735,589 shares of the company’s stock worth $321,757,000 after purchasing an additional 423,090 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Trane Technologies by 13,460.8% during the 4th quarter. SG Americas Securities LLC now owns 423,504 shares of the company’s stock worth $164,828,000 after acquiring an additional 420,381 shares in the last quarter. Finally, Credit Agricole S A acquired a new position in shares of Trane Technologies during the 3rd quarter worth about $118,129,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. KeyCorp boosted their target price on Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Evercore assumed coverage on Trane Technologies in a report on Monday, April 13th. They issued an “outperform” rating and a $535.00 target price for the company. Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a report on Monday, April 20th. Barclays boosted their target price on Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Finally, Royal Bank Of Canada boosted their target price on Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. One 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 given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $506.56.

Trane Technologies Stock Performance

Shares of TT stock opened at $456.51 on Monday. The company has a market cap of $100.91 billion, a price-to-earnings ratio of 35.31, a price-to-earnings-growth ratio of 2.10 and a beta of 1.20. The stock has a 50 day simple moving average of $458.85 and a 200-day simple moving average of $431.46. Trane Technologies plc has a 12-month low of $348.06 and a 12-month high of $503.47. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46.

Trane Technologies (NYSE:TT) last issued its earnings results on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.10. The business had revenue of $4.97 billion during the quarter, compared to the consensus estimate of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.45 EPS. On average, equities analysts forecast that Trane Technologies plc will post 14.88 EPS for the current year.

Trane Technologies Dividend Announcement

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

Insider Buying and Selling

In related news, CFO Christopher J. Kuehn sold 8,619 shares of the company’s stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total value of $3,878,550.00. Following the sale, the chief financial officer owned 60,576 shares in the company, valued at $27,259,200. This represents a 12.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald E. Simmons sold 4,593 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total value of $2,296,500.00. Following the completion of the sale, the insider owned 3,819 shares in the company, valued at approximately $1,909,500. This represents a 54.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.43% of the company’s stock.

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.