First Trust Direct Indexing L.P. Acquires 799 Shares of Trane Technologies plc (NYSE:TT)

First Trust Direct Indexing L.P. increased its stake in shares of Trane Technologies plc (NYSE:TT) by 14.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 6,489 shares of the company’s stock after buying an additional 799 shares during the period. First Trust Direct Indexing L.P.’s holdings in Trane Technologies were worth $1,583,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in TT. International Assets Investment Management LLC increased its stake in Trane Technologies by 24,670.7% during the 4th quarter. International Assets Investment Management LLC now owns 1,034,423 shares of the company’s stock worth $252,296,000 after purchasing an additional 1,030,247 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings 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 buying an additional 880,583 shares during the last quarter. FMR LLC boosted its holdings in shares of Trane Technologies by 12.4% in the 3rd quarter. FMR LLC now owns 5,743,154 shares of the company’s stock valued at $1,165,343,000 after buying an additional 632,598 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Trane Technologies by 36.4% during the 3rd quarter. Wellington Management Group LLP now owns 1,639,058 shares of the company’s stock valued at $332,581,000 after purchasing an additional 436,997 shares during the last quarter. Finally, Alphinity Investment Management Pty Ltd lifted its holdings in Trane Technologies by 31.4% during the 3rd quarter. Alphinity Investment Management Pty Ltd now owns 1,812,549 shares of the company’s stock valued at $367,784,000 after purchasing an additional 433,388 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Price Performance

Shares of Trane Technologies stock opened at $316.79 on Friday. The firm has a market cap of $71.71 billion, a PE ratio of 33.85, a PEG ratio of 2.50 and a beta of 1.01. Trane Technologies plc has a 12 month low of $162.04 and a 12 month high of $327.09. The stock has a 50 day moving average of $295.08 and a 200 day moving average of $257.16. The company has a current ratio of 1.13, a quick ratio of 0.78 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.30. The business had revenue of $4.22 billion for the quarter, compared to the consensus estimate of $3.99 billion. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. The business’s revenue was up 15.0% compared to the same quarter last year. During the same period last year, the business posted $1.41 EPS. On average, research analysts expect that Trane Technologies plc will post 10.47 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $3.36 annualized dividend and a dividend yield of 1.06%. Trane Technologies’s dividend payout ratio is presently 35.90%.

Insiders Place Their Bets

In other Trane Technologies news, CEO David S. Regnery sold 6,990 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $286.19, for a total transaction of $2,000,468.10. Following the transaction, the chief executive officer now directly owns 113,874 shares in the company, valued at $32,589,600.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO David S. Regnery sold 6,990 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $286.19, for a total value of $2,000,468.10. Following the transaction, the chief executive officer now owns 113,874 shares of the company’s stock, valued at $32,589,600.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Christopher J. Kuehn sold 2,767 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $268.31, for a total value of $742,413.77. Following the completion of the transaction, the chief financial officer now directly owns 54,788 shares in the company, valued at approximately $14,700,168.28. The disclosure for this sale can be found here. In the last three months, insiders sold 28,237 shares of company stock worth $8,024,534. Corporate insiders own 0.39% of the company’s stock.

Wall Street Analyst Weigh In

TT has been the topic of a number of recent analyst reports. Royal Bank of Canada raised their price target on Trane Technologies from $231.00 to $246.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. Wells Fargo & Company upped their target price on Trane Technologies from $281.00 to $295.00 and gave the company an “underweight” rating in a report on Thursday. JPMorgan Chase & Co. increased their target price on Trane Technologies from $247.00 to $300.00 and gave the stock a “neutral” rating in a report on Thursday. TD Cowen increased their price target on Trane Technologies from $325.00 to $360.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Mizuho raised their target price on Trane Technologies from $280.00 to $325.00 and gave the company a “neutral” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $300.54.

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.