Capital International Ltd. CA Makes New $3.65 Million Investment in Trane Technologies plc $TT

Capital International Ltd. CA purchased a new position in Trane Technologies plc (NYSE:TT) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 9,379 shares of the company’s stock, valued at approximately $3,650,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of TT. Aptus Capital Advisors LLC raised its stake in shares of Trane Technologies by 169.8% during the third quarter. Aptus Capital Advisors LLC now owns 14,738 shares of the company’s stock worth $6,219,000 after purchasing an additional 9,276 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of Trane Technologies by 2.9% during the fourth quarter. Nordea Investment Management AB now owns 2,586,506 shares of the company’s stock worth $1,010,419,000 after purchasing an additional 72,998 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of Trane Technologies by 64.0% during the fourth quarter. Farther Finance Advisors LLC now owns 7,478 shares of the company’s stock worth $2,911,000 after purchasing an additional 2,917 shares during the last quarter. Varma Mutual Pension Insurance Co raised its stake in shares of Trane Technologies by 9.0% during the third quarter. Varma Mutual Pension Insurance Co now owns 43,811 shares of the company’s stock worth $18,486,000 after purchasing an additional 3,600 shares during the last quarter. Finally, Korea Investment CORP raised its stake in shares of Trane Technologies by 17.5% during the third quarter. Korea Investment CORP now owns 204,695 shares of the company’s stock worth $86,373,000 after purchasing an additional 30,558 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Stock Down 0.1%

TT opened at $456.51 on Monday. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.46. The firm has a market cap of $100.91 billion, a P/E ratio of 35.31, a PEG ratio of 2.10 and a beta of 1.20. Trane Technologies plc has a 52 week low of $348.06 and a 52 week high of $503.47. The business’s fifty day simple moving average is $458.85 and its 200 day simple moving average is $431.46.

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

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be paid a dividend of $1.05 per share. The ex-dividend date of this dividend 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 (DPR) is presently 32.48%.

Insiders Place Their Bets

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

Analysts Set New Price Targets

TT has been the subject of several analyst reports. Barclays upped their price target on Trane Technologies from $507.00 to $585.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. BNP Paribas Exane initiated coverage on Trane Technologies in a research note on Tuesday, April 14th. They set an “outperform” rating and a $550.00 price target for the company. Royal Bank Of Canada upped their price target on Trane Technologies from $440.00 to $501.00 and gave the stock a “sector perform” rating in a research note on Friday, May 1st. KeyCorp upped their price target on Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Finally, Citigroup increased their price objective on Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $506.56.

Trane Technologies 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.