102,646 Shares in Trane Technologies plc $TT Acquired by Aware Super Pty Ltd as trustee of Aware Super

Aware Super Pty Ltd as trustee of Aware Super purchased a new position in Trane Technologies plc (NYSE:TT) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 102,646 shares of the company’s stock, valued at approximately $42,777,000.

Several other institutional investors also recently modified their holdings of TT. Nordea Investment Management AB boosted its holdings in Trane Technologies by 2.9% in the fourth quarter. Nordea Investment Management AB now owns 2,586,506 shares of the company’s stock worth $1,010,419,000 after purchasing an additional 72,998 shares during the last quarter. Farther Finance Advisors LLC raised its stake in Trane Technologies by 64.0% during the 4th quarter. Farther Finance Advisors LLC now owns 7,478 shares of the company’s stock valued at $2,911,000 after buying an additional 2,917 shares during the last quarter. Dara Capital US Inc. bought a new position in shares of Trane Technologies during the 4th quarter valued at $966,000. ProCore Advisors LLC purchased a new position in shares of Trane Technologies in the 4th quarter worth $939,000. Finally, CGN Advisors LLC purchased a new position in shares of Trane Technologies in the 4th quarter worth $1,206,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TT. BNP Paribas Exane started coverage on Trane Technologies in a research report on Tuesday, April 14th. They set an “outperform” rating and a $550.00 price objective for the company. KeyCorp raised their target price on Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a research note on Monday, April 20th. JPMorgan Chase & Co. increased their price objective on shares of Trane Technologies from $460.00 to $476.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Finally, Evercore began coverage on shares of Trane Technologies in a research report on Monday, April 13th. They set an “outperform” rating and a $535.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Trane Technologies has an average rating of “Moderate Buy” and an average price target of $516.67.

Insider Buying and Selling

In other Trane Technologies news, insider Donald E. Simmons sold 4,593 shares of the company’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 completion of the transaction, the insider directly owned 3,819 shares in the company, valued at $1,909,500. This represents a 54.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 Stock Performance

NYSE:TT opened at $475.00 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10. The stock has a 50-day simple moving average of $469.82 and a two-hundred day simple moving average of $446.82. The firm has a market capitalization of $105.00 billion, a PE ratio of 36.74, a P/E/G ratio of 2.21 and a beta of 1.19. Trane Technologies plc has a 52-week low of $348.06 and a 52-week high of $505.87.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data 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 return on equity of 35.55% and a net margin of 13.41%.The firm had revenue of $4.97 billion for the quarter, compared to the consensus estimate of $4.81 billion. During the same quarter last year, the company earned $2.45 earnings per share. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. Analysts forecast that Trane Technologies plc will post 14.89 EPS for the current year.

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be given a $1.05 dividend. 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 payout ratio is presently 32.48%.

Trane Technologies Company 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.