Aviva PLC Grows Stock Holdings in Trane Technologies plc $TT

Aviva PLC increased its stake in shares of Trane Technologies plc (NYSE:TT) by 5.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 247,296 shares of the company’s stock after buying an additional 12,749 shares during the quarter. Aviva PLC owned about 0.11% of Trane Technologies worth $96,248,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Fiduciary Family Office LLC grew its holdings in shares of Trane Technologies by 1.5% during the fourth quarter. Fiduciary Family Office LLC now owns 1,573 shares of the company’s stock worth $612,000 after buying an additional 23 shares during the last quarter. Bridgewater Advisors Inc. grew its holdings in shares of Trane Technologies by 3.7% during the third quarter. Bridgewater Advisors Inc. now owns 670 shares of the company’s stock worth $285,000 after buying an additional 24 shares during the last quarter. West Family Investments Inc. grew its holdings in shares of Trane Technologies by 2.3% during the third quarter. West Family Investments Inc. now owns 1,072 shares of the company’s stock worth $452,000 after buying an additional 24 shares during the last quarter. Cresset Asset Management LLC grew its holdings in shares of Trane Technologies by 0.3% during the third quarter. Cresset Asset Management LLC now owns 7,012 shares of the company’s stock worth $2,959,000 after buying an additional 24 shares during the last quarter. Finally, Bridges Investment Management Inc. grew its holdings in shares of Trane Technologies by 1.6% during the fourth quarter. Bridges Investment Management Inc. now owns 1,542 shares of the company’s stock worth $600,000 after buying an additional 24 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a report on Monday, April 20th. KeyCorp lifted 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. BNP Paribas Exane started coverage on Trane Technologies in a report on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 price objective on the stock. Royal Bank Of Canada lifted their price objective on Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. Finally, Evercore started coverage on Trane Technologies in a report on Monday, April 13th. They issued an “outperform” rating and a $535.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $509.12.

Trane Technologies Price Performance

Shares of TT opened at $459.89 on Friday. Trane Technologies plc has a twelve month low of $348.06 and a twelve month high of $503.47. The stock’s 50 day moving average is $462.86 and its two-hundred day moving average is $432.97. The firm has a market capitalization of $101.66 billion, a PE ratio of 35.57, a P/E/G ratio of 2.07 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.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data 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 company 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 firm’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 company earned $2.45 EPS. Research analysts anticipate that Trane Technologies plc will post 14.88 earnings per share for the current year.

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders 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 annualized dividend and a dividend yield of 0.9%. Trane Technologies’s payout ratio is 32.48%.

Insider Activity at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 8,619 shares of the business’s stock in a transaction that occurred 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. The trade was a 12.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 that occurred on Thursday, April 30th. The stock was 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 $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.

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.