Junto Capital Management LP Invests $68.65 Million in Trane Technologies plc $TT

Junto Capital Management LP acquired a new stake in Trane Technologies plc (NYSE:TT) in the 3rd quarter, Holdings Channel reports. The fund acquired 162,697 shares of the company’s stock, valued at approximately $68,652,000.

A number of other hedge funds have also made changes to their positions in TT. Norges Bank bought a new stake in Trane Technologies during the second quarter worth approximately $1,356,065,000. JPMorgan Chase & Co. boosted its stake in Trane Technologies by 10.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company’s stock valued at $6,550,975,000 after purchasing an additional 1,433,563 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of Trane Technologies by 229.3% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,752,551 shares of the company’s stock valued at $766,583,000 after purchasing an additional 1,220,388 shares during the period. ABN AMRO Bank N.V. bought a new stake in shares of Trane Technologies in the 2nd quarter worth $291,206,000. Finally, Corient Private Wealth LLC raised its stake in shares of Trane Technologies by 135.4% in the 2nd quarter. Corient Private Wealth LLC now owns 735,589 shares of the company’s stock worth $321,757,000 after buying an additional 423,090 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Ratings Changes

TT has been the subject of several research reports. UBS Group decreased their target price on Trane Technologies from $544.00 to $520.00 and set a “buy” rating for the company in a research note on Monday, January 5th. Morgan Stanley dropped their price target on shares of Trane Technologies from $550.00 to $535.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 13th. Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a report on Wednesday, January 21st. Wells Fargo & Company raised their price objective on shares of Trane Technologies from $375.00 to $400.00 and gave the company an “underweight” rating in a research report on Friday, January 30th. Finally, Oppenheimer lifted their price objective on shares of Trane Technologies from $460.00 to $468.00 and gave the stock an “outperform” rating in a research note on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $484.67.

Trane Technologies Stock Performance

Shares of TT opened at $422.66 on Monday. The company has a market capitalization of $93.55 billion, a PE ratio of 32.56, a PEG ratio of 2.22 and a beta of 1.19. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.25. The company’s 50 day moving average price is $426.27 and its 200 day moving average price is $417.13. 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 earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.81 by $0.05. The company had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $5.09 billion. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The company’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.61 EPS. Research analysts expect that Trane Technologies plc will post 12.83 EPS for the current fiscal 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 issued a dividend of $1.05 per share. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.94. This represents a $4.20 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, March 6th. Trane Technologies’s dividend payout ratio is 32.36%.

Insider Transactions at Trane Technologies

In other Trane Technologies news, CFO Christopher J. Kuehn sold 2,389 shares of the company’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $462.70, for a total value of $1,105,390.30. Following the transaction, the chief financial officer directly owned 60,486 shares of the company’s stock, valued at $27,986,872.20. This represents a 3.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO David S. Regnery sold 36,045 shares of the firm’s stock in a transaction dated 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 sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 49,378 shares of company stock valued at $21,228,464 in the last three months. 0.14% of the stock is currently owned by insiders.

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.