Ethic Inc. Has $11.02 Million Position in Trane Technologies plc $TT

Ethic Inc. lifted its stake in Trane Technologies plc (NYSE:TT) by 4.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 28,323 shares of the company’s stock after purchasing an additional 1,308 shares during the quarter. Ethic Inc.’s holdings in Trane Technologies were worth $11,023,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in Trane Technologies by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 20,020,321 shares of the company’s stock worth $7,791,909,000 after acquiring an additional 192,270 shares during the period. JPMorgan Chase & Co. grew its holdings in Trane Technologies by 10.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company’s stock worth $6,550,975,000 after acquiring an additional 1,433,563 shares during the period. Nordea Investment Management AB grew its holdings in Trane Technologies by 2.9% during the 4th quarter. Nordea Investment Management AB now owns 2,586,506 shares of the company’s stock worth $1,010,419,000 after acquiring an additional 72,998 shares during the period. Bank of America Corp DE grew its holdings in Trane Technologies by 9.2% during the 3rd quarter. Bank of America Corp DE now owns 2,422,690 shares of the company’s stock worth $1,022,278,000 after acquiring an additional 203,766 shares during the period. Finally, Legal & General Group Plc grew its holdings in Trane Technologies by 2.4% during the 3rd quarter. Legal & General Group Plc now owns 1,880,221 shares of the company’s stock worth $793,378,000 after acquiring an additional 44,243 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Trading Down 0.7%

TT opened at $466.59 on Friday. The stock has a market capitalization of $103.14 billion, a P/E ratio of 36.09, a P/E/G ratio of 2.15 and a beta of 1.25. Trane Technologies plc has a 12 month low of $348.06 and a 12 month high of $503.47. The firm’s fifty day simple moving average is $448.30 and its 200 day simple moving average is $426.70. The company has a current ratio of 1.10, a quick ratio of 0.77 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 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $4.81 billion. During the same period in the previous year, the firm posted $2.45 EPS. The firm’s revenue was up 6.0% compared to the same quarter last year. As a group, research analysts anticipate that Trane Technologies plc will post 14.87 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th will be given a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $4.20 annualized dividend and a yield of 0.9%. Trane Technologies’s payout ratio is 32.48%.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 36,045 shares of the business’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $422.69, for a total transaction of $15,235,861.05. Following the sale, the chief executive officer directly owned 96,948 shares of the company’s stock, valued at $40,978,950.12. The trade was a 27.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Christopher J. Kuehn sold 8,619 shares of the business’s stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total transaction of $3,878,550.00. Following the sale, the chief financial officer directly owned 60,576 shares in the company, valued at $27,259,200. This trade represents a 12.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 62,590 shares of company stock valued at $27,403,514. Corporate insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

TT has been the subject of a number of analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Trane Technologies from $434.00 to $460.00 and gave the stock a “neutral” rating in a report on Friday, January 30th. Evercore initiated coverage on shares of Trane Technologies in a report on Monday, April 13th. They set an “outperform” rating and a $535.00 target price for the company. Oppenheimer lifted their target price on shares of Trane Technologies from $460.00 to $468.00 and gave the stock an “outperform” rating in a report on Friday, January 30th. BNP Paribas Exane initiated coverage on shares of Trane Technologies in a report on Tuesday, April 14th. They set an “outperform” rating and a $550.00 target price for the company. Finally, Citigroup lifted their target price on shares of Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $505.56.

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.