Trane Technologies plc $TT Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP grew its holdings in Trane Technologies plc (NYSE:TT) by 8.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,027,064 shares of the company’s stock after acquiring an additional 79,305 shares during the quarter. Dimensional Fund Advisors LP owned 0.46% of Trane Technologies worth $433,310,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC grew its position in Trane Technologies by 60.0% during the 4th quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock worth $2,288,000 after purchasing an additional 2,323 shares during the last quarter. Sivia Capital Partners LLC lifted its stake in shares of Trane Technologies by 22.4% during the second quarter. Sivia Capital Partners LLC now owns 1,665 shares of the company’s stock worth $728,000 after buying an additional 305 shares during the period. Schnieders Capital Management LLC. acquired a new stake in shares of Trane Technologies during the second quarter worth $227,000. Hantz Financial Services Inc. grew its holdings in shares of Trane Technologies by 1,016.7% during the second quarter. Hantz Financial Services Inc. now owns 67 shares of the company’s stock valued at $29,000 after buying an additional 61 shares during the last quarter. Finally, Westside Investment Management Inc. increased its position in shares of Trane Technologies by 222.7% in the 2nd quarter. Westside Investment Management Inc. now owns 142 shares of the company’s stock valued at $62,000 after acquiring an additional 98 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Stock Down 0.1%

Trane Technologies stock opened at $445.20 on Thursday. The business’s 50-day moving average price is $421.28 and its 200 day moving average price is $417.04. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. The firm has a market cap of $98.54 billion, a price-to-earnings ratio of 34.30, a price-to-earnings-growth ratio of 2.35 and a beta of 1.19. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $479.37.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Thursday, January 29th. The company reported $2.86 EPS for the quarter, topping the consensus estimate of $2.81 by $0.05. The business had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.09 billion. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The business’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.61 EPS. As a group, sell-side 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 declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 6th will be given a dividend of $1.05 per share. This is a boost from Trane Technologies’s previous quarterly dividend of $0.94. This represents a $4.20 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, March 6th. Trane Technologies’s dividend payout ratio (DPR) is 28.97%.

Wall Street Analyst Weigh In

Several analysts have weighed in on TT shares. JPMorgan Chase & Co. boosted their price target on Trane Technologies from $434.00 to $460.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a research note on Wednesday, January 21st. Morgan Stanley dropped their target price on Trane Technologies from $550.00 to $535.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 13th. Bank of America upgraded shares of Trane Technologies from a “neutral” rating to a “buy” rating and increased their price target for the stock from $490.00 to $550.00 in a report on Thursday, November 13th. Finally, Citigroup lifted their price objective on shares of Trane Technologies from $513.00 to $525.00 and gave the company a “buy” rating in a research note on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $484.67.

Insider Activity

In other Trane Technologies news, CEO David S. Regnery sold 5,588 shares of Trane Technologies stock in a transaction 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 completion of the transaction, the chief executive officer owned 96,948 shares of the company’s stock, valued at approximately $44,848,144.80. The trade was a 5.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Christopher J. Kuehn sold 2,389 shares of the stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $462.70, for a total transaction of $1,105,390.30. Following the sale, the chief financial officer directly owned 60,486 shares in the company, valued at approximately $27,986,872.20. The trade was a 3.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 8,936 shares of company stock worth $4,133,991 over the last three months. Corporate insiders own 0.14% of the company’s stock.

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.