Pacer Advisors Inc. Purchases 12,673 Shares of Trane Technologies plc $TT

Pacer Advisors Inc. increased its position in Trane Technologies plc (NYSE:TT) by 41.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 43,173 shares of the company’s stock after acquiring an additional 12,673 shares during the period. Pacer Advisors Inc.’s holdings in Trane Technologies were worth $16,803,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Trane Technologies in the 4th quarter worth approximately $1,163,124,000. Capital International Investors acquired a new position in Trane Technologies during the fourth quarter valued at approximately $324,639,000. Corient Private Wealth LLC raised its position in shares of Trane Technologies by 135.4% in the second quarter. Corient Private Wealth LLC now owns 735,589 shares of the company’s stock valued at $321,757,000 after purchasing an additional 423,090 shares during the period. SG Americas Securities LLC raised its position in shares of Trane Technologies by 13,460.8% in the fourth quarter. SG Americas Securities LLC now owns 423,504 shares of the company’s stock valued at $164,828,000 after purchasing an additional 420,381 shares during the period. Finally, Capital Research Global Investors acquired a new stake in shares of Trane Technologies in the fourth quarter worth $132,124,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Donald E. Simmons sold 4,593 shares of the stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $500.00, for a total value of $2,296,500.00. Following the completion of the sale, the insider owned 3,819 shares in the company, valued at approximately $1,909,500. This trade represents a 54.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher J. Kuehn sold 8,619 shares of Trane Technologies stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total value of $3,878,550.00. Following the sale, the chief financial officer directly owned 60,576 shares in the company, valued at approximately $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. Insiders own 0.43% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on TT. Citigroup raised their target price on shares of Trane Technologies from $525.00 to $570.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a research report on Monday, April 20th. KeyCorp upped their price target on shares of Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Sanford C. Bernstein started coverage on Trane Technologies in a research report on Tuesday, June 9th. They issued an “outperform” rating and a $550.00 price target on the stock. Finally, Evercore assumed coverage on Trane Technologies in a research note on Monday, April 13th. They issued an “outperform” rating and a $535.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $509.12.

Trane Technologies Stock Up 0.1%

TT opened at $483.88 on Friday. The business has a 50 day moving average of $467.88 and a 200-day moving average of $435.22. The stock has a market capitalization of $106.96 billion, a price-to-earnings ratio of 37.42, a P/E/G ratio of 2.23 and a beta of 1.20. 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 plc has a 1-year low of $348.06 and a 1-year high of $503.47.

Trane Technologies (NYSE:TT) last announced its earnings results on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.10. The business had revenue of $4.97 billion for the quarter, compared to analyst estimates of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. Trane Technologies’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.45 earnings per share. As a group, sell-side analysts anticipate that Trane Technologies plc will post 14.88 earnings per share for the current year.

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be issued a dividend of $1.05 per share. The ex-dividend date is Friday, September 4th. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. Trane Technologies’s payout ratio is presently 32.48%.

About Trane Technologies

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.