TCW Group Inc. Invests $7.64 Million in Trane Technologies plc (NYSE:TT)

TCW Group Inc. acquired a new position in shares of Trane Technologies plc (NYSE:TT) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 31,338 shares of the company’s stock, valued at approximately $7,642,000.

A number of other institutional investors also recently made changes to their positions in TT. BKM Wealth Management LLC bought a new stake in shares of Trane Technologies during the fourth quarter worth approximately $25,000. Motco bought a new stake in shares of Trane Technologies in the fourth quarter valued at approximately $27,000. Sachetta LLC bought a new stake in shares of Trane Technologies in the fourth quarter valued at approximately $27,000. Ancora Advisors LLC bought a new stake in shares of Trane Technologies in the third quarter valued at approximately $40,000. Finally, Gables Capital Management Inc. boosted its stake in shares of Trane Technologies by 68.2% in the fourth quarter. Gables Capital Management Inc. now owns 185 shares of the company’s stock valued at $45,000 after buying an additional 75 shares during the period. Institutional investors own 82.97% of the company’s stock.

Insider Activity at Trane Technologies

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 shares were sold at an average price of $286.19, for a total transaction of $2,000,468.10. Following the sale, the chief executive officer now owns 113,874 shares of the company’s stock, valued at $32,589,600.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Evan M. Turtz sold 2,821 shares of Trane Technologies stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $288.33, for a total value of $813,378.93. Following the sale, the senior vice president now owns 20,729 shares of the company’s stock, valued at approximately $5,976,792.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David S. Regnery sold 6,990 shares of Trane Technologies stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 113,874 shares in the company, valued at approximately $32,589,600.06. The disclosure for this sale can be found here. Insiders sold 22,979 shares of company stock worth $6,603,372 over the last three months. Company insiders own 0.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TT. The Goldman Sachs Group boosted their price target on Trane Technologies from $287.00 to $326.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Citigroup boosted their price target on Trane Technologies from $355.00 to $366.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Robert W. Baird boosted their price target on Trane Technologies from $315.00 to $344.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Stephens boosted their price target on Trane Technologies from $310.00 to $320.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 1st. Finally, TD Cowen boosted their price objective on shares of Trane Technologies from $325.00 to $360.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $300.54.

Trane Technologies Price Performance

Shares of NYSE:TT traded up $3.74 during trading on Friday, hitting $336.66. 283,740 shares of the company were exchanged, compared to its average volume of 996,298. The business’s 50 day moving average is $308.24 and its 200-day moving average is $271.00. The company has a market capitalization of $76.20 billion, a P/E ratio of 35.57, a price-to-earnings-growth ratio of 2.65 and a beta of 1.01. The company has a quick ratio of 0.74, a current ratio of 1.13 and a debt-to-equity ratio of 0.58. Trane Technologies plc has a 1-year low of $162.04 and a 1-year high of $338.09.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.30. The business had revenue of $4.22 billion during 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%. Trane Technologies’s quarterly revenue was up 15.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.41 earnings per share. Equities analysts forecast that Trane Technologies plc will post 10.46 earnings per share for the current year.

Trane Technologies Dividend Announcement

The business also recently disclosed 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 is Friday, June 7th. This represents a $3.36 dividend on an annualized basis and a yield of 1.00%. Trane Technologies’s payout ratio is 35.90%.

Trane Technologies Company Profile

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.