Trane Technologies plc $TT Shares Bought by Strategic Planning Group LLC

Strategic Planning Group LLC grew its holdings in Trane Technologies plc (NYSE:TT) by 12.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 16,810 shares of the company’s stock after buying an additional 1,838 shares during the period. Strategic Planning Group LLC’s holdings in Trane Technologies were worth $6,543,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of brokerages have commented on TT. JPMorgan Chase & Co. lifted their price target on Trane Technologies from $434.00 to $460.00 and gave the stock a “neutral” rating in a research report on Friday, January 30th. KeyCorp upped their target price on Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. BNP Paribas Exane started coverage on shares of Trane Technologies in a report on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 price objective on the stock. Barclays raised their target price on shares of Trane Technologies from $507.00 to $585.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Finally, Oppenheimer increased their price target on Trane Technologies from $460.00 to $468.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $505.56.

Insiders Place Their Bets

In other Trane Technologies news, CFO Christopher J. Kuehn sold 8,619 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $27,259,200. This trade represents a 12.46% decrease in their ownership of the stock. The sale was disclosed in a document filed 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, CAO Elizabeth A. Elwell sold 635 shares of the company’s 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 transaction, the chief accounting officer directly owned 7,100 shares of the company’s stock, valued at approximately $3,001,170. The trade was a 8.21% decrease in their ownership of the stock. 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 in the last 90 days. 0.14% of the stock is currently owned by company insiders.

Trane Technologies Price Performance

Shares of NYSE TT opened at $476.26 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77. The stock has a market capitalization of $105.28 billion, a price-to-earnings ratio of 36.83, a PEG ratio of 2.15 and a beta of 1.25. The firm’s 50 day simple moving average is $448.82 and its 200-day simple moving average is $427.40. Trane Technologies plc has a 12 month low of $348.06 and a 12 month high of $503.47.

Trane Technologies (NYSE:TT) last posted its earnings results on Friday, May 1st. The company reported $2.63 earnings per share (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 firm had revenue of $4.97 billion during the quarter, compared to analysts’ expectations of $4.81 billion. During the same period in the previous year, the business posted $2.45 EPS. The business’s revenue was up 6.0% compared to the same quarter last year. Analysts expect that Trane Technologies plc will post 14.87 EPS for the current year.

Trane Technologies Dividend Announcement

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 given a dividend of $1.05 per share. 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 (DPR) is 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.