Capital World Investors Has $398.87 Million Stock Position in Trane Technologies plc $TT

Capital World Investors reduced its stake in shares of Trane Technologies plc (NYSE:TT) by 0.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,024,738 shares of the company’s stock after selling 1,929 shares during the period. Capital World Investors owned approximately 0.46% of Trane Technologies worth $398,867,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Capital Research Global Investors acquired a new stake in Trane Technologies during the 4th quarter worth approximately $132,124,000. Capital International Sarl acquired a new stake in Trane Technologies during the 4th quarter worth approximately $5,802,000. Capital International Ltd. CA acquired a new stake in Trane Technologies during the 4th quarter worth approximately $3,650,000. Capital International Inc. CA acquired a new stake in Trane Technologies during the 4th quarter worth approximately $4,439,000. Finally, Capital International Investors acquired a new stake in Trane Technologies during the 4th quarter worth approximately $324,639,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on TT. KeyCorp raised their target price on shares of Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Citigroup lifted their price objective 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. raised their target price on shares of Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. BNP Paribas Exane started coverage on shares of Trane Technologies in a research note on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 target price for the company. Finally, Royal Bank Of Canada lifted their price objective on shares of Trane Technologies from $440.00 to $501.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Trane Technologies has an average rating of “Moderate Buy” and a consensus target price of $506.56.

Insider Transactions at Trane Technologies

In related news, CFO Christopher J. Kuehn sold 8,619 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief financial officer owned 60,576 shares of the company’s stock, valued at $27,259,200. The trade was a 12.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 business’s stock in a transaction dated 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 transaction, the insider directly owned 3,819 shares of the company’s stock, valued at approximately $1,909,500. This trade represents a 54.60% decrease in their position. 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 owned by insiders.

Trane Technologies Stock Up 0.4%

TT stock opened at $458.72 on Tuesday. The company has a market cap of $101.40 billion, a PE ratio of 35.48, a price-to-earnings-growth ratio of 2.10 and a beta of 1.20. The business has a 50-day simple moving average of $459.88 and a 200 day simple moving average of $431.82. Trane Technologies plc has a 52 week low of $348.06 and a 52 week high of $503.47. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.46.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results 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 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%.Trane Technologies’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.45 earnings per share. Sell-side analysts anticipate that Trane Technologies plc will post 14.88 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

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

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.