Ninety One SA PTY Ltd Raises Stake in Trane Technologies plc (NYSE:TT)

Ninety One SA PTY Ltd grew its holdings in Trane Technologies plc (NYSE:TT) by 1.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 43,121 shares of the company’s stock after buying an additional 723 shares during the period. Trane Technologies accounts for approximately 1.6% of Ninety One SA PTY Ltd’s holdings, making the stock its 21st largest holding. Ninety One SA PTY Ltd’s holdings in Trane Technologies were worth $10,517,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Trane Technologies by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 18,133,851 shares of the company’s stock valued at $2,769,040,000 after purchasing an additional 77,924 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Trane Technologies by 5.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 17,085,662 shares of the company’s stock valued at $3,466,852,000 after purchasing an additional 880,583 shares during the last quarter. FMR LLC lifted its stake in shares of Trane Technologies by 12.4% in the 3rd quarter. FMR LLC now owns 5,743,154 shares of the company’s stock valued at $1,165,343,000 after purchasing an additional 632,598 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Trane Technologies by 1.7% in the 1st quarter. Geode Capital Management LLC now owns 4,765,976 shares of the company’s stock valued at $874,863,000 after purchasing an additional 80,607 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in shares of Trane Technologies by 2.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,050,779 shares of the company’s stock valued at $821,952,000 after purchasing an additional 103,823 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Citigroup upped their price target on Trane Technologies from $309.00 to $355.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Stephens increased their target price on Trane Technologies from $235.00 to $280.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 6th. Royal Bank of Canada increased their target price on Trane Technologies from $231.00 to $246.00 and gave the stock a “sector perform” rating in a research note on Friday, February 2nd. The Goldman Sachs Group increased their target price on Trane Technologies from $253.00 to $287.00 and gave the stock a “neutral” rating in a research note on Monday, February 5th. Finally, Barclays increased their target price on Trane Technologies from $286.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $251.83.

Trane Technologies Stock Down 0.9 %

TT stock traded down $2.76 during mid-day trading on Thursday, reaching $290.33. The company had a trading volume of 363,145 shares, compared to its average volume of 993,236. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.78 and a current ratio of 1.13. The company has a market capitalization of $65.93 billion, a price-to-earnings ratio of 33.34, a price-to-earnings-growth ratio of 2.49 and a beta of 1.05. The firm has a fifty day simple moving average of $289.02 and a 200 day simple moving average of $250.01. Trane Technologies plc has a fifty-two week low of $162.04 and a fifty-two week high of $306.98.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Thursday, February 1st. The company reported $2.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.13 by $0.04. The company had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.43 billion. Trane Technologies had a return on equity of 32.01% and a net margin of 11.45%. Trane Technologies’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.82 EPS. Analysts forecast that Trane Technologies plc will post 10.2 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend is Thursday, June 6th. Trane Technologies’s dividend payout ratio is currently 38.23%.

Insider Buying and Selling at Trane Technologies

In other news, EVP Paul A. Camuti sold 508 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $273.34, for a total value of $138,856.72. Following the transaction, the executive vice president now owns 89,447 shares in the company, valued at approximately $24,449,442.98. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Christopher J. Kuehn sold 3,762 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $286.48, for a total value of $1,077,737.76. Following the transaction, the chief financial officer now owns 61,691 shares in the company, valued at approximately $17,673,237.68. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Paul A. Camuti sold 508 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $273.34, for a total value of $138,856.72. Following the completion of the transaction, the executive vice president now owns 89,447 shares in the company, valued at approximately $24,449,442.98. The disclosure for this sale can be found here. Insiders have sold 29,874 shares of company stock valued at $8,462,825 in the last quarter. Corporate insiders own 0.39% of the company’s stock.

About Trane Technologies

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.