Intech Investment Management LLC Grows Stock Holdings in Trane Technologies plc $TT

Intech Investment Management LLC grew its stake in shares of Trane Technologies plc (NYSE:TT) by 41.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 10,241 shares of the company’s stock after buying an additional 3,021 shares during the period. Intech Investment Management LLC’s holdings in Trane Technologies were worth $4,321,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the stock. Hager Investment Management Services LLC purchased a new stake in Trane Technologies during the 3rd quarter worth about $473,000. Cary Street Partners Financial LLC lifted its holdings in shares of Trane Technologies by 0.3% in the third quarter. Cary Street Partners Financial LLC now owns 17,170 shares of the company’s stock worth $7,245,000 after buying an additional 59 shares in the last quarter. Bradley Foster & Sargent Inc. CT boosted its position in shares of Trane Technologies by 65.1% in the third quarter. Bradley Foster & Sargent Inc. CT now owns 10,335 shares of the company’s stock valued at $4,361,000 after acquiring an additional 4,077 shares during the period. Waratah Capital Advisors Ltd. grew its stake in Trane Technologies by 773.7% during the third quarter. Waratah Capital Advisors Ltd. now owns 68,982 shares of the company’s stock valued at $29,108,000 after acquiring an additional 61,087 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC increased its holdings in Trane Technologies by 12.5% during the 3rd quarter. Counterpoint Mutual Funds LLC now owns 756 shares of the company’s stock worth $319,000 after acquiring an additional 84 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Trane Technologies Stock Up 1.0%

Shares of NYSE:TT opened at $461.71 on Monday. The stock has a market capitalization of $102.19 billion, a P/E ratio of 35.57, a price-to-earnings-growth ratio of 2.43 and a beta of 1.19. The stock’s 50-day moving average price is $417.67 and its 200-day moving average price is $416.42. The company has a current ratio of 1.25, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $479.37.

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

Trane Technologies Increases Dividend

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

Insider Activity

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

Analysts Set New Price Targets

A number of research analysts have recently commented on TT shares. JPMorgan Chase & Co. boosted their price target on shares of Trane Technologies from $434.00 to $460.00 and gave the company a “neutral” rating in a research report on Friday, January 30th. UBS Group reduced their target price on Trane Technologies from $544.00 to $520.00 and set a “buy” rating for the company in a research report on Monday, January 5th. Morgan Stanley decreased their target price 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. Wells Fargo & Company lifted their price target on Trane Technologies from $375.00 to $400.00 and gave the company an “underweight” rating in a research report on Friday, January 30th. Finally, Barclays boosted their price objective on Trane Technologies from $505.00 to $507.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $484.67.

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.