Nuveen LLC Purchases 36,655 Shares of Trane Technologies plc $TT

Nuveen LLC boosted its position in Trane Technologies plc (NYSE:TT) by 1.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,171,608 shares of the company’s stock after buying an additional 36,655 shares during the period. Nuveen LLC owned approximately 0.98% of Trane Technologies worth $845,190,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TT. Brighton Jones LLC increased its position in Trane Technologies by 60.0% in the 4th quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock valued at $2,288,000 after buying an additional 2,323 shares in the last quarter. Sivia Capital Partners LLC increased its position in Trane Technologies by 22.4% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,665 shares of the company’s stock valued at $728,000 after buying an additional 305 shares in the last quarter. Schnieders Capital Management LLC. bought a new stake in Trane Technologies in the 2nd quarter valued at about $227,000. Nebula Research & Development LLC increased its position in Trane Technologies by 178.0% in the 2nd quarter. Nebula Research & Development LLC now owns 2,371 shares of the company’s stock valued at $1,037,000 after buying an additional 1,518 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its stake in Trane Technologies by 0.5% during the 2nd quarter. Treasurer of the State of North Carolina now owns 104,140 shares of the company’s stock valued at $45,552,000 after purchasing an additional 497 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TT has been the subject of a number of analyst reports. JPMorgan Chase & Co. lifted their price target on Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a research note on Monday, April 20th. Barclays lifted their price target on Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Evercore initiated coverage on Trane Technologies in a research note on Monday, April 13th. They set an “outperform” rating and a $535.00 price target for the company. Finally, Sanford C. Bernstein initiated coverage on Trane Technologies in a research note on Tuesday. They set an “outperform” rating and a $550.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Trane Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $509.12.

Trane Technologies Stock Performance

TT stock opened at $459.89 on Friday. The firm has a market cap of $101.66 billion, a PE ratio of 35.57, a P/E/G ratio of 2.07 and a beta of 1.20. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.46. The business has a 50 day moving average of $462.86 and a 200-day moving average of $432.97. Trane Technologies plc has a 12-month low of $348.06 and a 12-month high of $503.47.

Trane Technologies (NYSE:TT) last released its earnings results on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.10. The company had revenue of $4.97 billion during the quarter, compared to analyst estimates of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.Trane Technologies’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.45 earnings per share. As a group, sell-side analysts expect that Trane Technologies plc will post 14.88 earnings per share 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 issued a $1.05 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. Trane Technologies’s dividend payout ratio is currently 32.48%.

Insider Activity at Trane Technologies

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 value of $2,296,500.00. Following the completion of the transaction, the insider directly owned 3,819 shares of the company’s stock, valued at $1,909,500. This represents a 54.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 completion of the transaction, the chief financial officer directly owned 60,576 shares of the company’s stock, valued at approximately $27,259,200. This represents a 12.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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.