Trane Technologies plc $TT Shares Purchased by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP increased its stake in Trane Technologies plc (NYSE:TT) by 8.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 1,027,064 shares of the company’s stock after acquiring an additional 79,305 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Trane Technologies were worth $433,310,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TT. Montag A & Associates Inc. grew its position in shares of Trane Technologies by 4.0% in the third quarter. Montag A & Associates Inc. now owns 5,505 shares of the company’s stock valued at $2,323,000 after purchasing an additional 214 shares during the period. Great Lakes Retirement Inc. lifted its stake in Trane Technologies by 3.3% in the 3rd quarter. Great Lakes Retirement Inc. now owns 15,555 shares of the company’s stock valued at $6,564,000 after buying an additional 502 shares in the last quarter. Fiduciary Group LLC boosted its holdings in Trane Technologies by 23.9% in the 3rd quarter. Fiduciary Group LLC now owns 1,918 shares of the company’s stock worth $809,000 after buying an additional 370 shares during the last quarter. Cresset Asset Management LLC increased its stake 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 buying an additional 24 shares in the last quarter. Finally, CI Investments Inc. raised its holdings in shares of Trane Technologies by 6.6% during the third quarter. CI Investments Inc. now owns 9,340 shares of the company’s stock valued at $3,941,000 after acquiring an additional 581 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Trading Down 0.1%

Shares of TT opened at $445.20 on Thursday. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $479.37. The firm has a market capitalization of $98.54 billion, a P/E ratio of 34.30, a P/E/G ratio of 2.35 and a beta of 1.19. The firm has a 50-day moving average price of $421.28 and a 200 day moving average price of $417.04. 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 earnings results on Thursday, January 29th. The company reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.81 by $0.05. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The company had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $5.09 billion. During the same period in the previous year, the firm earned $2.61 earnings per share. Trane Technologies’s quarterly revenue was up 5.6% compared to the same quarter last year. Sell-side analysts forecast that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 6th will be given a $1.05 dividend. The ex-dividend date is Friday, March 6th. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.94. This represents a $4.20 annualized dividend and a yield of 0.9%. Trane Technologies’s dividend payout ratio (DPR) is currently 28.97%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Wells Fargo & Company lifted their price target on Trane Technologies from $375.00 to $400.00 and gave the stock an “underweight” rating in a research note on Friday, January 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Trane Technologies in a research note on Wednesday, January 21st. KeyCorp upgraded shares of Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 target price for the company in a research report on Monday, December 15th. Royal Bank Of Canada raised their price target on shares of Trane Technologies from $469.00 to $470.00 and gave the stock a “sector perform” rating in a research note on Friday, January 30th. Finally, Morgan Stanley dropped 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 note on Tuesday, January 13th. One 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $484.67.

Insiders Place Their Bets

In other news, CEO David S. Regnery sold 5,588 shares of the stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $462.60, for a total transaction of $2,585,008.80. Following the completion of the transaction, the chief executive officer directly owned 96,948 shares in the company, valued at approximately $44,848,144.80. This represents a 5.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Donald E. Simmons sold 822 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $462.57, for a total value of $380,232.54. Following the sale, the insider directly owned 3,819 shares of the company’s stock, valued at $1,766,554.83. The trade was a 17.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 8,936 shares of company stock worth $4,133,991 in the last three months. 0.14% of the stock is owned by insiders.

Trane Technologies 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.