1,517 Shares in Trane Technologies plc $TT Bought by Cercano Management LLC

Cercano Management LLC purchased a new position in Trane Technologies plc (NYSE:TT) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,517 shares of the company’s stock, valued at approximately $590,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Trane Technologies by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 20,020,321 shares of the company’s stock valued at $7,791,909,000 after purchasing an additional 192,270 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Trane Technologies by 10.2% during the third quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company’s stock valued at $6,550,975,000 after purchasing an additional 1,433,563 shares during the last quarter. Geode Capital Management LLC increased its stake in Trane Technologies by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 5,071,072 shares of the company’s stock valued at $1,964,896,000 after purchasing an additional 14,179 shares during the last quarter. Norges Bank bought a new stake in Trane Technologies during the fourth quarter valued at $1,163,124,000. Finally, Nordea Investment Management AB increased its stake in Trane Technologies by 2.9% during the fourth quarter. Nordea Investment Management AB now owns 2,586,506 shares of the company’s stock valued at $1,010,419,000 after purchasing an additional 72,998 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Insiders Place Their Bets

In related news, CEO David S. Regnery sold 36,045 shares of the stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $422.69, for a total value of $15,235,861.05. Following the transaction, the chief executive officer owned 96,948 shares in the company, valued at approximately $40,978,950.12. This represents a 27.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Elizabeth A. Elwell sold 635 shares of the stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $422.70, for a total value of $268,414.50. Following the completion of the transaction, the chief accounting officer owned 7,100 shares in the company, valued at $3,001,170. This represents a 8.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 53,654 shares of company stock worth $23,269,523 over the last quarter. Company insiders own 0.14% of the company’s stock.

Trane Technologies Stock Performance

TT stock opened at $448.60 on Tuesday. The company has a market capitalization of $99.17 billion, a P/E ratio of 34.69, a PEG ratio of 2.08 and a beta of 1.25. The company has a 50-day simple moving average of $455.94 and a 200 day simple moving average of $430.21. Trane Technologies plc has a fifty-two week low of $348.06 and a fifty-two week high of $503.47. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.46.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.10. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The business had revenue of $4.97 billion during the quarter, compared to the consensus estimate of $4.81 billion. During the same quarter in the prior year, the company posted $2.45 earnings per share. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. Sell-side analysts predict that Trane Technologies plc will post 14.88 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be issued a $1.05 dividend. The ex-dividend date is Friday, June 5th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. Trane Technologies’s dividend payout ratio is currently 32.48%.

Analyst Ratings Changes

Several analysts have weighed in on TT shares. BNP Paribas Exane started coverage on shares of Trane Technologies in a research note on Tuesday, April 14th. They set an “outperform” rating and a $550.00 target price for the company. Royal Bank Of Canada boosted their target price on shares of Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a research note on Friday, May 1st. JPMorgan Chase & Co. boosted their target price on shares of 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 reissued a “buy (b)” rating on shares of Trane Technologies in a report on Monday, April 20th. Finally, Barclays boosted their price target on shares of Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” rating in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $506.56.

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.