Trane Technologies plc $TT Shares Purchased by Van ECK Associates Corp

Van ECK Associates Corp boosted its stake in Trane Technologies plc (NYSE:TT) by 3.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,427 shares of the company’s stock after acquiring an additional 1,872 shares during the period. Van ECK Associates Corp’s holdings in Trane Technologies were worth $22,122,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Financial Consulate Inc. acquired a new position in shares of Trane Technologies in the third quarter valued at approximately $25,000. Icon Advisers Inc. Co. purchased a new position in Trane Technologies in the 2nd quarter valued at $26,000. United Community Bank grew its position in Trane Technologies by 134.4% in the 3rd quarter. United Community Bank now owns 75 shares of the company’s stock valued at $32,000 after buying an additional 43 shares during the last quarter. Halbert Hargrove Global Advisors LLC increased its stake in Trane Technologies by 34.2% in the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 102 shares of the company’s stock valued at $43,000 after buying an additional 26 shares during the period. Finally, Hantz Financial Services Inc. raised its position in Trane Technologies by 58.2% during the 3rd quarter. Hantz Financial Services Inc. now owns 106 shares of the company’s stock worth $45,000 after buying an additional 39 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Price Performance

Shares of NYSE TT traded down $0.72 during midday trading on Friday, hitting $421.10. The company had a trading volume of 127,573 shares, compared to its average volume of 1,663,146. The firm has a market capitalization of $93.20 billion, a price-to-earnings ratio of 32.45, a price-to-earnings-growth ratio of 2.28 and a beta of 1.19. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $479.37. The business has a 50-day simple moving average of $425.78 and a two-hundred day simple moving average of $417.23. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.46.

Trane Technologies (NYSE:TT) last issued its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.05. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The company had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.09 billion. During the same period in the prior year, the business posted $2.61 earnings per share. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. Equities research 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. Investors of record on Friday, March 6th will be paid a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, March 6th. This is an increase from Trane Technologies’s previous quarterly dividend of $0.94. Trane Technologies’s dividend payout ratio (DPR) is 32.36%.

Insider Transactions at Trane Technologies

In other news, CAO Elizabeth A. Elwell sold 635 shares of the firm’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $422.70, for a total value of $268,414.50. Following the completion of the transaction, the chief accounting officer owned 7,100 shares in the company, valued at $3,001,170. This trade represents a 8.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO David S. Regnery sold 36,045 shares of Trane Technologies stock in a transaction on Friday, March 6th. The stock was sold at an average price of $422.69, for a total value of $15,235,861.05. Following the transaction, the chief executive officer directly owned 96,948 shares of the company’s stock, valued at $40,978,950.12. This trade represents a 27.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 49,378 shares of company stock valued at $21,228,464. Company insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on TT. Citigroup raised their target price on shares of Trane Technologies from $513.00 to $525.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Oppenheimer increased their price target on shares of Trane Technologies from $460.00 to $468.00 and gave the stock an “outperform” rating in a report on Friday, January 30th. Melius Research upgraded shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price objective for the company in a research report on Wednesday, January 7th. Royal Bank Of Canada boosted their target price on Trane Technologies from $469.00 to $470.00 and gave the stock a “sector perform” rating in a research report on Friday, January 30th. Finally, Barclays increased their target price on Trane Technologies from $505.00 to $507.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. One equities research 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 issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $484.67.

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.