Capital Research Global Investors Acquires New Holdings in Trane Technologies plc $TT

Capital Research Global Investors acquired a new stake in Trane Technologies plc (NYSE:TT) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 339,475 shares of the company’s stock, valued at approximately $132,124,000. Capital Research Global Investors owned about 0.15% of Trane Technologies at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Tucker Asset Management LLC acquired a new stake in Trane Technologies in the 4th quarter valued at about $25,000. JPL Wealth Management LLC acquired a new stake in Trane Technologies in the 3rd quarter valued at about $32,000. Creative Financial Designs Inc. ADV grew its stake in Trane Technologies by 119.5% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 90 shares of the company’s stock valued at $35,000 after acquiring an additional 49 shares during the last quarter. KERR FINANCIAL PLANNING Corp acquired a new stake in Trane Technologies in the 3rd quarter valued at about $42,000. Finally, Hantz Financial Services Inc. grew its stake in Trane Technologies by 58.2% in the 3rd quarter. Hantz Financial Services Inc. now owns 106 shares of the company’s stock valued at $45,000 after acquiring an additional 39 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TT has been the topic of a number of research reports. KeyCorp increased their price objective on shares of Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. JPMorgan Chase & Co. upped their target price on shares of Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Barclays upped their target price on shares of Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Citigroup upped their target price on shares of Trane Technologies from $525.00 to $570.00 and gave the company a “buy” rating in a report on Friday, May 1st. Finally, Royal Bank Of Canada upped their target price on shares of Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $506.56.

Insider Activity

In other news, CFO Christopher J. Kuehn sold 8,619 shares of the 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 transaction, the chief financial officer directly owned 60,576 shares in the company, valued at $27,259,200. This represents a 12.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 dated Thursday, April 30th. The stock was sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the transaction, the insider owned 3,819 shares in the company, valued at approximately $1,909,500. The trade was a 54.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 Price Performance

NYSE:TT opened at $458.72 on Tuesday. The firm has a market cap of $101.40 billion, a price-to-earnings ratio of 35.48, a price-to-earnings-growth ratio of 2.10 and a beta of 1.20. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. The company’s 50-day moving average is $459.88 and its two-hundred day moving average is $431.82. Trane Technologies plc has a 12-month low of $348.06 and a 12-month high of $503.47.

Trane Technologies (NYSE:TT) last released its earnings results on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.10. The company had revenue of $4.97 billion for 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%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.45 EPS. Research analysts expect that Trane Technologies plc will post 14.88 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be issued a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, September 4th. Trane Technologies’s dividend payout ratio is presently 32.48%.

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.