ZWJ Investment Counsel Inc. Increases Holdings in Trane Technologies plc (NYSE:TT)

ZWJ Investment Counsel Inc. increased its stake in Trane Technologies plc (NYSE:TT) by 6.2% in the 4th quarter, HoldingsChannel reports. The fund owned 1,060 shares of the company’s stock after acquiring an additional 62 shares during the period. ZWJ Investment Counsel Inc.’s holdings in Trane Technologies were worth $259,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Acadian Asset Management LLC bought a new position in shares of Trane Technologies during the 1st quarter valued at approximately $178,000. Blair William & Co. IL lifted its holdings in shares of Trane Technologies by 3.0% in the 1st quarter. Blair William & Co. IL now owns 16,727 shares of the company’s stock worth $2,554,000 after acquiring an additional 495 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new stake in Trane Technologies in the 1st quarter worth about $219,000. Vanguard Group Inc. boosted its position in shares of Trane Technologies by 0.4% during the first quarter. Vanguard Group Inc. now owns 18,133,851 shares of the company’s stock valued at $2,769,040,000 after buying an additional 77,924 shares during the period. Finally, Mackenzie Financial Corp grew its stake in shares of Trane Technologies by 3.8% during the first quarter. Mackenzie Financial Corp now owns 956,177 shares of the company’s stock valued at $146,008,000 after buying an additional 34,591 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on TT shares. Stephens boosted their price objective on shares of Trane Technologies from $235.00 to $280.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. Citigroup boosted their price target on Trane Technologies from $309.00 to $355.00 and gave the company a “buy” rating in a report on Monday, April 8th. Royal Bank of Canada raised their price objective on 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 target price on Trane Technologies from $253.00 to $287.00 and gave the stock a “neutral” rating in a report on Monday, February 5th. Finally, Barclays raised their price target on Trane Technologies from $286.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Trane Technologies has a consensus rating of “Hold” and an average target price of $251.83.

Insider Buying and Selling

In related news, SVP Keith A. Sultana sold 1,637 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $267.74, for a total value of $438,290.38. Following the transaction, the senior vice president now owns 42,374 shares in the company, valued at approximately $11,345,214.76. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CFO Christopher J. Kuehn sold 3,762 shares of the company’s stock in a transaction dated 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 $17,673,237.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Keith A. Sultana sold 1,637 shares of Trane Technologies stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $267.74, for a total value of $438,290.38. Following the transaction, the senior vice president now owns 42,374 shares of the company’s stock, valued at $11,345,214.76. The disclosure for this sale can be found here. Insiders sold 29,874 shares of company stock worth $8,462,825 in the last 90 days. Insiders own 0.39% of the company’s stock.

Trane Technologies Stock Down 0.4 %

TT traded down $1.29 during trading on Friday, hitting $288.27. The stock had a trading volume of 800,778 shares, compared to its average volume of 750,544. The stock has a 50 day simple moving average of $289.67 and a two-hundred day simple moving average of $250.91. The company has a market capitalization of $65.46 billion, a PE ratio of 32.80, a PEG ratio of 2.44 and a beta of 1.05. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.78 and a current ratio of 1.13. Trane Technologies plc has a twelve month low of $162.04 and a twelve month high of $306.98.

Trane Technologies (NYSE:TT) last announced its earnings results on Thursday, February 1st. The company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.04. The company had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.43 billion. Trane Technologies had a return on equity of 32.01% and a net margin of 11.45%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.82 EPS. On average, research analysts predict that Trane Technologies plc will post 10.2 earnings per share for the current year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Thursday, June 6th. Trane Technologies’s payout ratio is 38.23%.

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.