O Shaughnessy Asset Management LLC Acquires 1,885 Shares of Trane Technologies plc $TT

O Shaughnessy Asset Management LLC increased its position in Trane Technologies plc (NYSE:TT) by 5.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,202 shares of the company’s stock after buying an additional 1,885 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Trane Technologies were worth $14,479,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Fiduciary Family Office LLC lifted its position in shares of Trane Technologies by 1.5% in the fourth quarter. Fiduciary Family Office LLC now owns 1,573 shares of the company’s stock worth $612,000 after buying an additional 23 shares in the last quarter. Bridgewater Advisors Inc. lifted its position in shares of Trane Technologies by 3.7% in the third quarter. Bridgewater Advisors Inc. now owns 670 shares of the company’s stock worth $285,000 after buying an additional 24 shares in the last quarter. West Family Investments Inc. lifted its position in shares of Trane Technologies by 2.3% in the third quarter. West Family Investments Inc. now owns 1,072 shares of the company’s stock worth $452,000 after buying an additional 24 shares in the last quarter. Cresset Asset Management LLC lifted its position in shares of Trane Technologies by 0.3% in the third quarter. Cresset Asset Management LLC now owns 7,012 shares of the company’s stock worth $2,959,000 after buying an additional 24 shares in the last quarter. Finally, Bridges Investment Management Inc. lifted its position in shares of Trane Technologies by 1.6% in the fourth quarter. Bridges Investment Management Inc. now owns 1,542 shares of the company’s stock worth $600,000 after buying an additional 24 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Trane Technologies Trading Up 2.5%

Shares of NYSE TT opened at $470.24 on Wednesday. The business’s 50 day moving average is $461.08 and its two-hundred day moving average is $432.27. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77. Trane Technologies plc has a 1-year low of $348.06 and a 1-year high of $503.47. The stock has a market capitalization of $103.95 billion, a P/E ratio of 36.37, a PEG ratio of 2.11 and a beta of 1.20.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.10. The company had revenue of $4.97 billion for the quarter, compared to analysts’ expectations of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.45 earnings per share. As a group, research analysts expect that Trane Technologies plc will post 14.88 EPS for the current year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be paid a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. Trane Technologies’s dividend payout ratio is currently 32.48%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Citigroup boosted their target price on Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. BNP Paribas Exane assumed coverage on Trane Technologies in a research report on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 target price on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a research report on Monday, April 20th. Barclays boosted their price objective on Trane Technologies from $507.00 to $585.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Finally, KeyCorp boosted their price objective on Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Trane Technologies has a consensus rating of “Moderate Buy” and an average price target of $506.56.

Insider Buying and Selling

In other news, insider Donald E. Simmons sold 4,593 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the transaction, the insider owned 3,819 shares of the company’s stock, valued at approximately $1,909,500. This represents a 54.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher J. Kuehn sold 8,619 shares of the company’s stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $450.00, for a total value of $3,878,550.00. Following the transaction, the chief financial officer directly owned 60,576 shares in the company, valued at approximately $27,259,200. This represents a 12.46% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.43% of the company’s stock.

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.