AustralianSuper Pty Ltd Increases Stock Holdings in Trane Technologies plc (NYSE:TT)

AustralianSuper Pty Ltd boosted its position in shares of Trane Technologies plc (NYSE:TT) by 25.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,492 shares of the company’s stock after acquiring an additional 6,291 shares during the period. AustralianSuper Pty Ltd’s holdings in Trane Technologies were worth $12,242,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Trust Point Inc. increased its holdings in shares of Trane Technologies by 3.1% in the third quarter. Trust Point Inc. now owns 897 shares of the company’s stock worth $349,000 after purchasing an additional 27 shares during the period. First Pacific Financial raised its holdings in shares of Trane Technologies by 1.1% in the 3rd quarter. First Pacific Financial now owns 2,674 shares of the company’s stock valued at $1,039,000 after acquiring an additional 28 shares in the last quarter. Greenleaf Trust boosted its position in shares of Trane Technologies by 0.5% during the 3rd quarter. Greenleaf Trust now owns 5,852 shares of the company’s stock valued at $2,275,000 after acquiring an additional 29 shares during the last quarter. Lake Street Advisors Group LLC grew its holdings in shares of Trane Technologies by 1.6% during the third quarter. Lake Street Advisors Group LLC now owns 1,896 shares of the company’s stock worth $737,000 after purchasing an additional 30 shares in the last quarter. Finally, PFG Private Wealth Management LLC increased its position in shares of Trane Technologies by 4.7% in the second quarter. PFG Private Wealth Management LLC now owns 706 shares of the company’s stock worth $232,000 after purchasing an additional 32 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Insider Activity at Trane Technologies

In related news, EVP Raymond D. Pittard sold 1,805 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total value of $593,213.25. Following the completion of the transaction, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at $27,447,862.05. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Raymond D. Pittard sold 1,805 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total value of $593,213.25. Following the sale, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at $27,447,862.05. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO David S. Regnery sold 29,450 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total value of $9,460,812.50. Following the transaction, the chief executive officer now directly owns 132,946 shares of the company’s stock, valued at $42,708,902.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Robert W. Baird dropped their target price on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research report on Thursday. Barclays upped their target price on shares of Trane Technologies from $394.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. The Goldman Sachs Group raised their price target on Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Mizuho increased their price objective on Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Finally, Royal Bank of Canada raised their price objective on Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $379.00.

Trane Technologies Trading Down 2.2 %

Trane Technologies stock traded down $8.33 during trading hours on Thursday, reaching $367.19. The stock had a trading volume of 557,346 shares, compared to its average volume of 1,096,750. The company has a fifty day simple moving average of $376.97 and a 200-day simple moving average of $344.61. Trane Technologies plc has a 52 week low of $186.24 and a 52 week high of $406.96. The stock has a market cap of $83.11 billion, a PE ratio of 39.20, a PEG ratio of 2.70 and a beta of 1.01. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.17 and a quick ratio of 0.84.

Trane Technologies (NYSE:TT) last posted its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.14. The company had revenue of $5.44 billion for the quarter, compared to analysts’ expectations of $5.32 billion. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. Trane Technologies’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period last year, the firm earned $2.79 earnings per share. Analysts forecast that Trane Technologies plc will post 10.89 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date is Friday, December 6th. Trane Technologies’s payout ratio is 35.90%.

Trane Technologies Company Profile

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.