Victory Capital Management Inc. Sells 17,548 Shares of Trane Technologies plc $TT

Victory Capital Management Inc. cut its holdings in Trane Technologies plc (NYSE:TT) by 6.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 257,327 shares of the company’s stock after selling 17,548 shares during the quarter. Victory Capital Management Inc. owned approximately 0.12% of Trane Technologies worth $108,582,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. CI Investments Inc. lifted 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 purchasing an additional 581 shares during the last quarter. Elo Mutual Pension Insurance Co increased its position in Trane Technologies by 32.9% during the 3rd quarter. Elo Mutual Pension Insurance Co now owns 32,612 shares of the company’s stock valued at $13,761,000 after buying an additional 8,077 shares in the last quarter. Journey Strategic Wealth LLC boosted its holdings in Trane Technologies by 21.4% in the third quarter. Journey Strategic Wealth LLC now owns 1,345 shares of the company’s stock worth $568,000 after acquiring an additional 237 shares in the last quarter. New Age Alpha Advisors LLC grew its stake in shares of Trane Technologies by 99.1% in the third quarter. New Age Alpha Advisors LLC now owns 6,923 shares of the company’s stock worth $2,975,000 after acquiring an additional 3,445 shares during the last quarter. Finally, Aprio Wealth Management LLC bought a new position in shares of Trane Technologies during the third quarter valued at $205,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Trane Technologies

In other Trane Technologies news, CAO Elizabeth A. Elwell sold 137 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $462.48, for a total value of $63,359.76. Following the sale, the chief accounting officer owned 7,100 shares of the company’s stock, valued at $3,283,608. The trade was a 1.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David S. Regnery sold 5,588 shares of Trane Technologies stock in a transaction that occurred on Tuesday, February 10th. The shares were 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 owned 96,948 shares of the company’s stock, valued at $44,848,144.80. This trade represents a 5.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 8,936 shares of company stock valued at $4,133,991 in the last ninety days. Insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TT. Melius Research upgraded Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price objective for the company in a report on Wednesday, January 7th. Morgan Stanley decreased their price target on Trane Technologies from $550.00 to $535.00 and set an “overweight” rating on the stock in a report on Tuesday, January 13th. Oppenheimer increased their price objective on shares of Trane Technologies from $460.00 to $468.00 and gave the company an “outperform” rating in a report on Friday, January 30th. KeyCorp raised shares of Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 price objective for the company in a research note on Monday, December 15th. Finally, Bank of America raised Trane Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the company from $490.00 to $550.00 in a research report on Thursday, November 13th. 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 given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $484.67.

Trane Technologies Price Performance

NYSE:TT opened at $445.20 on Thursday. The firm’s fifty day moving average is $421.28 and its two-hundred day moving average is $417.04. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.25. The firm has a market cap of $98.54 billion, a price-to-earnings ratio of 34.30, a PEG ratio of 2.35 and a beta of 1.19. Trane Technologies plc has a one year low of $298.15 and a one year high of $479.37.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.05. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The firm had revenue of $5.14 billion during the quarter, compared to analyst estimates of $5.09 billion. During the same quarter in the previous year, the business earned $2.61 EPS. Trane Technologies’s revenue for the quarter was up 5.6% compared to the same quarter last year. Research analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be issued a dividend of $1.05 per share. The ex-dividend date is Friday, March 6th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. This is a boost from Trane Technologies’s previous quarterly dividend of $0.94. Trane Technologies’s dividend payout ratio (DPR) is currently 28.97%.

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.