Cullen Investment Group LTD. Acquires Shares of 27,627 Trane Technologies plc (NYSE:TT)

Cullen Investment Group LTD. acquired a new stake in shares of Trane Technologies plc (NYSE:TT) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 27,627 shares of the company’s stock, valued at approximately $6,738,000. Trane Technologies accounts for 1.2% of Cullen Investment Group LTD.’s portfolio, making the stock its 22nd largest holding.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Norges Bank acquired a new position in shares of Trane Technologies in the 4th quarter valued at $526,026,000. Moneta Group Investment Advisors LLC lifted its stake in shares of Trane Technologies by 109,668.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,963,758 shares of the company’s stock valued at $330,088,000 after purchasing an additional 1,961,969 shares during the period. First Trust Advisors LP lifted its stake in shares of Trane Technologies by 2,606.5% in the 1st quarter. First Trust Advisors LP now owns 1,081,171 shares of the company’s stock valued at $165,095,000 after purchasing an additional 1,041,224 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Trane Technologies by 24,670.7% in the 4th quarter. International Assets Investment Management LLC now owns 1,034,423 shares of the company’s stock valued at $252,296,000 after purchasing an additional 1,030,247 shares during the period. Finally, 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 period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Trading Up 0.5 %

NYSE TT traded up $1.57 during trading hours on Monday, reaching $298.53. The company had a trading volume of 160,866 shares, compared to its average volume of 996,915. The stock has a 50-day moving average of $287.68 and a 200 day moving average of $248.43. Trane Technologies plc has a 1-year low of $162.04 and a 1-year high of $306.98. The company has a current ratio of 1.13, a quick ratio of 0.78 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $67.79 billion, a P/E ratio of 33.78, a price-to-earnings-growth ratio of 2.51 and a beta of 1.05.

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

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a $0.84 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $3.36 annualized dividend and a yield of 1.13%. Trane Technologies’s dividend payout ratio (DPR) is 38.23%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, SVP Keith A. Sultana sold 1,637 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $267.74, for a total value of $438,290.38. Following the transaction, the senior vice president now directly owns 42,374 shares in the company, valued at $11,345,214.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Christopher J. Kuehn sold 2,767 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $268.31, for a total transaction of $742,413.77. Following the transaction, the chief financial officer now directly owns 54,788 shares in the company, valued at $14,700,168.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Keith A. Sultana sold 1,637 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $267.74, for a total transaction of $438,290.38. Following the transaction, the senior vice president now owns 42,374 shares in the company, valued at $11,345,214.76. The disclosure for this sale can be found here. Insiders have sold 29,874 shares of company stock worth $8,462,825 over the last three months. 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.