Advisors Capital Management LLC Acquires 2,507 Shares of Trane Technologies plc $TT

Advisors Capital Management LLC increased its holdings in shares of Trane Technologies plc (NYSE:TT) by 1.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 172,188 shares of the company’s stock after buying an additional 2,507 shares during the quarter. Trane Technologies accounts for about 0.9% of Advisors Capital Management LLC’s holdings, making the stock its 25th biggest holding. Advisors Capital Management LLC owned approximately 0.08% of Trane Technologies worth $72,657,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. King Luther Capital Management Corp grew its stake in shares of Trane Technologies by 1.3% in the second quarter. King Luther Capital Management Corp now owns 1,942 shares of the company’s stock worth $849,000 after purchasing an additional 24 shares during the last quarter. Old Port Advisors lifted its holdings in Trane Technologies by 3.2% during the 3rd quarter. Old Port Advisors now owns 778 shares of the company’s stock worth $328,000 after buying an additional 24 shares during the period. OneAscent Wealth Management LLC grew its position in shares of Trane Technologies by 1.5% in the 3rd quarter. OneAscent Wealth Management LLC now owns 1,627 shares of the company’s stock valued at $686,000 after buying an additional 24 shares during the last quarter. Busey Bank increased its stake in shares of Trane Technologies by 3.0% in the third quarter. Busey Bank now owns 871 shares of the company’s stock valued at $368,000 after buying an additional 25 shares during the period. Finally, Mather Group LLC. raised its position in shares of Trane Technologies by 2.7% during the third quarter. Mather Group LLC. now owns 966 shares of the company’s stock worth $408,000 after acquiring an additional 25 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Stock Performance

Shares of Trane Technologies stock opened at $470.10 on Wednesday. The business has a 50-day simple moving average of $406.69 and a 200 day simple moving average of $414.72. Trane Technologies plc has a one year low of $298.15 and a one year high of $479.37. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.92. The firm has a market capitalization of $104.05 billion, a price-to-earnings ratio of 36.22, a PEG ratio of 2.45 and a beta of 1.21.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Thursday, January 29th. The company reported $2.86 EPS for the quarter, beating analysts’ consensus estimates of $2.81 by $0.05. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The firm had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $5.09 billion. During the same quarter last year, the firm posted $2.61 earnings per share. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be issued a dividend of $1.05 per share. This is an increase from Trane Technologies’s previous quarterly dividend of $0.94. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, March 6th. Trane Technologies’s dividend payout ratio is 28.97%.

Analysts Set New Price Targets

Several analysts recently commented on the company. Melius Research upgraded Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 target price on the stock in a report on Wednesday, January 7th. Wells Fargo & Company increased their price objective on shares of Trane Technologies from $375.00 to $400.00 and gave the stock an “underweight” rating in a research report on Friday, January 30th. Barclays boosted their target price on shares of Trane Technologies from $505.00 to $507.00 and gave the company an “overweight” rating in a report on Friday, January 30th. UBS Group decreased their price target on Trane Technologies from $544.00 to $520.00 and set a “buy” rating for the company in a report on Monday, January 5th. Finally, Morgan Stanley dropped their price objective on Trane Technologies from $550.00 to $535.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 13th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $484.67.

Insider Buying and Selling at Trane Technologies

In related news, insider Donald E. Simmons sold 822 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $462.57, for a total value of $380,232.54. Following the transaction, the insider owned 3,819 shares of the company’s stock, valued at approximately $1,766,554.83. This trade represents a 17.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David S. Regnery sold 5,588 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $462.60, for a total value of $2,585,008.80. Following the sale, the chief executive officer directly owned 96,948 shares of the company’s stock, valued at $44,848,144.80. This represents a 5.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 8,936 shares of company stock valued at $4,133,991. Insiders own 0.14% of the company’s stock.

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.