Great Lakes Retirement Inc. Takes $373,000 Position in Trane Technologies plc (NYSE:TT)

Great Lakes Retirement Inc. bought a new stake in shares of Trane Technologies plc (NYSE:TT) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,528 shares of the company’s stock, valued at approximately $373,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of TT. Norges Bank bought a new stake in shares of Trane Technologies during the 4th quarter worth approximately $526,026,000. Moneta Group Investment Advisors LLC boosted its position in Trane Technologies by 109,668.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,963,758 shares of the company’s stock valued at $330,088,000 after buying an additional 1,961,969 shares during the period. BlackRock Inc. grew its stake in Trane Technologies by 5.4% in the 2nd quarter. BlackRock Inc. now owns 20,337,700 shares of the company’s stock worth $3,889,789,000 after acquiring an additional 1,048,924 shares in the last quarter. First Trust Advisors LP increased its position in shares of Trane Technologies by 2,606.5% during the first quarter. First Trust Advisors LP now owns 1,081,171 shares of the company’s stock worth $165,095,000 after acquiring an additional 1,041,224 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of Trane Technologies by 5.4% during the third quarter. JPMorgan Chase & Co. now owns 17,085,662 shares of the company’s stock valued at $3,466,852,000 after acquiring an additional 880,583 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Performance

Shares of NYSE:TT traded up $0.89 on Thursday, hitting $300.60. 448,495 shares of the company were exchanged, compared to its average volume of 1,031,377. The firm has a market capitalization of $68.26 billion, a P/E ratio of 34.10, a price-to-earnings-growth ratio of 2.34 and a beta of 1.05. The company has a current ratio of 1.13, a quick ratio of 0.78 and a debt-to-equity ratio of 0.57. The stock’s 50 day moving average price is $277.13 and its 200 day moving average price is $239.97. Trane Technologies plc has a 1-year low of $162.04 and a 1-year high of $305.00.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Thursday, February 1st. The company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.13 by $0.04. The firm had revenue of $4.42 billion during the quarter, compared to analysts’ expectations of $4.43 billion. Trane Technologies had a return on equity of 32.01% and a net margin of 11.45%. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period last year, the business posted $1.82 earnings per share. Sell-side analysts predict that Trane Technologies plc will post 10.18 EPS for the current year.

Trane Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 1st will be paid a $0.84 dividend. This is an increase from Trane Technologies’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Thursday, February 29th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.12%. Trane Technologies’s dividend payout ratio is presently 38.23%.

Analysts Set New Price Targets

Several research analysts have commented on the company. Citigroup raised their price objective on Trane Technologies from $246.00 to $269.00 and gave the stock a “buy” rating in a report on Monday, December 11th. Royal Bank of Canada increased their target price on shares of Trane Technologies from $231.00 to $246.00 and gave the stock a “sector perform” rating in a report on Friday, February 2nd. The Goldman Sachs Group upped their price target on shares of Trane Technologies from $253.00 to $287.00 and gave the stock a “neutral” rating in a research report on Monday, February 5th. Wells Fargo & Company lifted their price objective on shares of Trane Technologies from $200.00 to $246.00 and gave the company an “underweight” rating in a report on Tuesday, December 19th. Finally, Stephens lifted their price target on Trane Technologies from $235.00 to $280.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $232.31.

Insider Buying and Selling

In other Trane Technologies news, CFO Christopher J. Kuehn sold 3,762 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $286.48, for a total value of $1,077,737.76. Following the sale, the chief financial officer now owns 61,691 shares in the company, valued at approximately $17,673,237.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Trane Technologies news, CFO Christopher J. Kuehn sold 3,762 shares of Trane Technologies stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $286.48, for a total value of $1,077,737.76. Following the completion of the transaction, the chief financial officer now owns 61,691 shares of the company’s stock, valued at $17,673,237.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Keith A. Sultana sold 1,637 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $267.74, for a total transaction of $438,290.38. Following the sale, the senior vice president now directly owns 42,374 shares in the company, valued at $11,345,214.76. The disclosure for this sale can be found here. Insiders have sold a total of 29,874 shares of company stock valued at $8,462,825 over the last ninety days. Company insiders own 0.39% of the company’s stock.

Trane Technologies Profile

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.