Trane Technologies plc $TT Shares Acquired by Pacer Advisors Inc.

Pacer Advisors Inc. lifted its stake in shares of Trane Technologies plc (NYSE:TT) by 41.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,173 shares of the company’s stock after purchasing an additional 12,673 shares during the period. Pacer Advisors Inc.’s holdings in Trane Technologies were worth $16,803,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of TT. Tucker Asset Management LLC purchased a new position in Trane Technologies in the 4th quarter worth about $25,000. Hilton Head Capital Partners LLC purchased a new stake in Trane Technologies during the fourth quarter valued at about $32,000. JPL Wealth Management LLC acquired a new position in shares of Trane Technologies in the third quarter worth about $32,000. Kemnay Advisory Services Inc. acquired a new position in shares of Trane Technologies in the fourth quarter worth about $34,000. Finally, Creative Financial Designs Inc. ADV increased its position in shares of Trane Technologies by 119.5% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 90 shares of the company’s stock worth $35,000 after acquiring an additional 49 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

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 completion of the sale, the chief financial officer directly owned 60,576 shares in the company, valued at approximately $27,259,200. This trade represents a 12.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 Trane Technologies 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 of the company’s stock, 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. Company insiders own 0.43% of the company’s stock.

Trane Technologies Price Performance

Shares of TT opened at $483.88 on Friday. The business’s 50-day moving average is $467.88 and its 200-day moving average is $435.22. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77. The company has a market capitalization of $106.96 billion, a price-to-earnings ratio of 37.42, a P/E/G ratio of 2.23 and a beta of 1.20. Trane Technologies plc has a fifty-two week low of $348.06 and a fifty-two week high of $503.47.

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

Trane Technologies Dividend Announcement

The business also recently announced 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. 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 32.48%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on TT shares. Citigroup boosted their price target 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. JPMorgan Chase & Co. lifted their price objective on shares of Trane Technologies from $460.00 to $476.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Evercore began coverage on shares of Trane Technologies in a research note on Monday, April 13th. They set an “outperform” rating and a $535.00 target price on the stock. BNP Paribas Exane initiated coverage on Trane Technologies in a report on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 target price for the company. Finally, Royal Bank Of Canada raised their target price on Trane Technologies from $440.00 to $501.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $509.12.

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.