Trane Technologies plc $TT Shares Bought by IFM Investors Pty Ltd

IFM Investors Pty Ltd grew its position in Trane Technologies plc (NYSE:TT) by 8.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,356 shares of the company’s stock after buying an additional 3,578 shares during the quarter. IFM Investors Pty Ltd’s holdings in Trane Technologies were worth $20,152,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Tucker Asset Management LLC acquired a new stake in Trane Technologies in the 4th quarter valued at about $25,000. Hilton Head Capital Partners LLC acquired a new position in Trane Technologies during the fourth quarter worth about $32,000. JPL Wealth Management LLC purchased a new stake in shares of Trane Technologies in the third quarter valued at about $32,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Trane Technologies in the fourth quarter valued at about $34,000. Finally, Creative Financial Designs Inc. ADV grew its position in shares of Trane Technologies by 119.5% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 90 shares of the company’s stock valued at $35,000 after purchasing an additional 49 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, CFO Christopher J. Kuehn sold 8,619 shares of Trane Technologies stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total value of $3,878,550.00. Following the completion of the sale, the chief financial officer owned 60,576 shares in the company, valued at $27,259,200. The trade was a 12.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald E. Simmons sold 4,593 shares of the company’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the transaction, the insider directly owned 3,819 shares of the company’s stock, valued at approximately $1,909,500. This represents a 54.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Trane Technologies from $460.00 to $476.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Sanford C. Bernstein began coverage on Trane Technologies in a report on Tuesday, June 9th. They set an “outperform” rating and a $550.00 target price on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a research report on Monday, April 20th. BNP Paribas Exane started coverage on Trane Technologies in a research report on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 price objective on the stock. Finally, Evercore started coverage on Trane Technologies in a research note on Monday, April 13th. They set an “outperform” rating and a $535.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $509.12.

Trane Technologies Stock Up 2.2%

Shares of NYSE TT opened at $490.94 on Wednesday. Trane Technologies plc has a 1 year low of $348.06 and a 1 year high of $505.87. The firm’s 50 day moving average price is $470.56 and its 200 day moving average price is $439.48. The firm has a market cap of $108.52 billion, a P/E ratio of 37.97, a price-to-earnings-growth ratio of 2.21 and a beta of 1.20. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, beating 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 company had revenue of $4.97 billion during the quarter, compared to the consensus estimate of $4.81 billion. During the same period in the previous year, the firm posted $2.45 EPS. Trane Technologies’s revenue was up 6.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Trane Technologies plc will post 14.88 earnings per share for the current year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be paid a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, September 4th. Trane Technologies’s dividend payout ratio is presently 32.48%.

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.