Virtu Financial LLC Invests $1.41 Million in Trane Technologies plc $TT

Virtu Financial LLC purchased a new stake in Trane Technologies plc (NYSE:TT) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,616 shares of the company’s stock, valued at approximately $1,407,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TT. Vanguard Group Inc. boosted its stake in Trane Technologies by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 20,020,321 shares of the company’s stock worth $7,791,909,000 after buying an additional 192,270 shares during the last quarter. State Street Corp increased its stake in shares of Trane Technologies by 0.6% in the 4th quarter. State Street Corp now owns 10,113,123 shares of the company’s stock worth $3,936,034,000 after acquiring an additional 61,393 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Trane Technologies by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 5,071,072 shares of the company’s stock worth $1,964,896,000 after acquiring an additional 14,179 shares during the last quarter. Norges Bank purchased a new position in shares of Trane Technologies during the 4th quarter worth $1,163,124,000. Finally, Nordea Investment Management AB boosted its position in shares of Trane Technologies by 2.9% during the 4th quarter. Nordea Investment Management AB now owns 2,586,506 shares of the company’s stock valued at $1,010,419,000 after acquiring an additional 72,998 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 8,619 shares of the firm’s 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 transaction, the chief financial officer directly owned 60,576 shares in the company, valued at $27,259,200. This trade represents a 12.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, 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 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 completion of the sale, the insider directly owned 3,819 shares of the company’s stock, valued at $1,909,500. The trade was a 54.60% decrease in their ownership of the stock. 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.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Citigroup raised their price objective on shares of Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Barclays boosted 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. BNP Paribas Exane assumed coverage on shares of Trane Technologies in a report on Tuesday, April 14th. They set an “outperform” rating and a $550.00 price target for the company. Royal Bank Of Canada lifted their price target on shares of Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a research report on Friday, May 1st. Finally, KeyCorp upped their price objective on Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have assigned a Hold rating and one has assigned 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 price target of $509.12.

Trane Technologies Trading Up 0.1%

NYSE TT opened at $483.88 on Friday. The firm’s 50-day moving average is $467.88 and its two-hundred day moving average is $435.22. Trane Technologies plc has a 12 month low of $348.06 and a 12 month high of $503.47. 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 stock has a market capitalization of $106.96 billion, a P/E ratio of 37.42, a PEG ratio of 2.23 and a beta of 1.20.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results 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 analysts’ expectations of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period last year, the business earned $2.45 earnings per share. On average, sell-side analysts anticipate that Trane Technologies plc will post 14.88 earnings per share for the current year.

Trane Technologies Announces Dividend

The business also recently announced 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. This represents a $4.20 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, September 4th. Trane Technologies’s dividend payout ratio (DPR) is 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.