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

Van ECK Associates Corp lifted its holdings in shares of Trane Technologies plc (NYSE:TT) by 3.7% in the third quarter, HoldingsChannel reports. The firm 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 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Icon Advisers Inc. Co. acquired a new stake in Trane Technologies during the 2nd quarter valued at $26,000. Financial Consulate Inc. acquired a new position in shares of Trane Technologies in the third quarter worth $25,000. United Community Bank lifted its position in shares of Trane Technologies by 134.4% in the third quarter. United Community Bank now owns 75 shares of the company’s stock valued at $32,000 after acquiring an additional 43 shares in the last quarter. Halbert Hargrove Global Advisors LLC boosted its stake in shares of Trane Technologies by 34.2% during the third quarter. Halbert Hargrove Global Advisors LLC now owns 102 shares of the company’s stock valued at $43,000 after acquiring an additional 26 shares during the last quarter. Finally, Hantz Financial Services Inc. boosted its stake in shares of Trane Technologies by 58.2% during the third quarter. Hantz Financial Services Inc. now owns 106 shares of the company’s stock valued at $45,000 after acquiring an additional 39 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Barclays boosted their target price on shares of Trane Technologies from $505.00 to $507.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. KeyCorp upgraded shares of Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 price target for the company in a report on Monday, December 15th. Morgan Stanley cut their price objective on shares of Trane Technologies from $550.00 to $535.00 and set an “overweight” rating for the company in a research report on Tuesday, January 13th. Citigroup upped their price objective on shares of Trane Technologies from $513.00 to $525.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Finally, Oppenheimer lifted their target price 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 research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $484.67.

Insider Transactions at Trane Technologies

In other Trane Technologies news, CAO Elizabeth A. Elwell sold 635 shares of the business’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $422.70, for a total transaction of $268,414.50. Following the completion of the sale, the chief accounting officer owned 7,100 shares of the company’s stock, valued at approximately $3,001,170. The trade was a 8.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David S. Regnery sold 36,045 shares of the company’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 owned 96,948 shares of the company’s stock, valued at $40,978,950.12. This represents a 27.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 49,378 shares of company stock valued at $21,228,464. Corporate insiders own 0.14% of the company’s stock.

Trane Technologies Trading Down 0.2%

Shares of NYSE TT traded down $0.72 on Friday, reaching $421.10. 127,573 shares of the company traded hands, compared to its average volume of 1,663,146. The stock has a market capitalization of $93.20 billion, a PE ratio of 32.45, a P/E/G ratio of 2.28 and a beta of 1.19. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $479.37. The company has a current ratio of 1.25, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The company has a 50 day moving average of $425.78 and a 200 day moving average of $417.23.

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 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 business had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $5.09 billion. During the same period last year, the company earned $2.61 earnings per share. The company’s quarterly revenue was up 5.6% on a year-over-year basis. On average, equities research analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be paid a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, March 6th. This represents a $4.20 annualized dividend and a dividend yield of 1.0%. This is a boost from Trane Technologies’s previous quarterly dividend of $0.94. Trane Technologies’s dividend payout ratio is presently 32.36%.

Trane Technologies Company 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.