40,864 Shares in Trane Technologies plc $TT Bought by Jain Global LLC

Jain Global LLC acquired a new stake in Trane Technologies plc (NYSE:TT) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 40,864 shares of the company’s stock, valued at approximately $17,243,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Old Port Advisors lifted its holdings in shares of Trane Technologies by 3.2% in the third quarter. Old Port Advisors now owns 778 shares of the company’s stock worth $328,000 after acquiring an additional 24 shares during the last quarter. OneAscent Wealth Management LLC boosted its stake in shares of Trane Technologies by 1.5% in the 3rd quarter. OneAscent Wealth Management LLC now owns 1,627 shares of the company’s stock valued at $686,000 after purchasing an additional 24 shares in the last quarter. Bridgewater Advisors Inc. grew its holdings in shares of Trane Technologies by 3.7% during the 3rd quarter. Bridgewater Advisors Inc. now owns 670 shares of the company’s stock valued at $285,000 after purchasing an additional 24 shares during the last quarter. West Family Investments Inc. increased its position in Trane Technologies by 2.3% during the 3rd quarter. West Family Investments Inc. now owns 1,072 shares of the company’s stock worth $452,000 after purchasing an additional 24 shares in the last quarter. Finally, Cresset Asset Management LLC increased its position in Trane Technologies by 0.3% during the 3rd quarter. Cresset Asset Management LLC now owns 7,012 shares of the company’s stock worth $2,959,000 after purchasing an additional 24 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Insider Activity

In other news, CEO David S. Regnery sold 36,045 shares of the stock in a transaction on Friday, March 6th. The shares were sold at an average price of $422.69, for a total transaction of $15,235,861.05. Following the completion of the sale, the chief executive officer directly owned 96,948 shares in the company, valued at $40,978,950.12. This represents a 27.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Donald E. Simmons sold 3,762 shares of Trane Technologies stock in a transaction on Friday, March 6th. The stock was sold at an average price of $422.70, for a total transaction of $1,590,197.40. Following the transaction, the insider directly owned 3,819 shares of the company’s stock, valued at $1,614,291.30. This represents a 49.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 49,378 shares of company stock worth $21,228,464 in the last 90 days. 0.14% of the stock is owned by company insiders.

Trane Technologies Stock Up 0.2%

Shares of TT opened at $422.66 on Monday. The stock’s 50-day moving average price is $426.27 and its two-hundred day moving average price is $417.13. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $479.37. 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 current ratio of 1.25, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data 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 return on equity of 36.34% and a net margin of 13.69%.The firm’s revenue was up 5.6% compared to the same quarter last year. During the same period last year, the company earned $2.61 earnings per share. On average, analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be issued a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, March 6th. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.94. Trane Technologies’s dividend payout ratio (DPR) is 32.36%.

Wall Street Analyst Weigh In

TT has been the topic of a number of research analyst reports. Morgan Stanley cut their target price 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. Wells Fargo & Company upped their price target on shares of Trane Technologies from $375.00 to $400.00 and gave the stock an “underweight” rating in a report on Friday, January 30th. Citigroup raised their price objective on Trane Technologies from $513.00 to $525.00 and gave the company a “buy” rating in a report on Friday, January 30th. KeyCorp upgraded Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 price objective on the stock in a research report on Monday, December 15th. Finally, Barclays upped their target price on Trane Technologies from $505.00 to $507.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Trane Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $484.67.

About Trane Technologies

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.