Jain Global LLC Takes $17.24 Million Position in Trane Technologies plc $TT

Jain Global LLC bought a new stake in shares of Trane Technologies plc (NYSE:TT) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 40,864 shares of the company’s stock, valued at approximately $17,243,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Financial Consulate Inc. acquired a new position in Trane Technologies in the third quarter valued at approximately $25,000. Icon Advisers Inc. Co. acquired a new stake in shares of Trane Technologies during the 2nd quarter worth approximately $26,000. United Community Bank increased its stake in shares of Trane Technologies by 134.4% in the 3rd quarter. United Community Bank now owns 75 shares of the company’s stock valued at $32,000 after acquiring an additional 43 shares in the last quarter. Halbert Hargrove Global Advisors LLC lifted its position in shares of Trane Technologies by 34.2% during the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 102 shares of the company’s stock valued at $43,000 after acquiring an additional 26 shares during the period. Finally, Hantz Financial Services Inc. lifted its position in shares of Trane Technologies by 58.2% during the 3rd quarter. Hantz Financial Services Inc. now owns 106 shares of the company’s stock valued at $45,000 after acquiring an additional 39 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on TT. Royal Bank Of Canada raised their price target on shares of Trane Technologies from $469.00 to $470.00 and gave the stock a “sector perform” rating in a report on Friday, January 30th. Oppenheimer upped their price objective on shares of Trane Technologies from $460.00 to $468.00 and gave the company an “outperform” rating in a report on Friday, January 30th. JPMorgan Chase & Co. increased their price objective on shares of Trane Technologies from $434.00 to $460.00 and gave the stock a “neutral” rating in a research report on Friday, January 30th. KeyCorp raised Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 target price for the company in a research report on Monday, December 15th. Finally, Morgan Stanley dropped their price target on Trane Technologies from $550.00 to $535.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 13th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Trane Technologies has a consensus rating of “Moderate Buy” and an average target price of $484.67.

Insider Activity

In other Trane Technologies news, CEO David S. Regnery sold 36,045 shares of the company’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $422.69, for a total value of $15,235,861.05. Following the completion of the sale, the chief executive officer directly owned 96,948 shares of the company’s stock, valued at approximately $40,978,950.12. This represents a 27.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Christopher J. Kuehn sold 2,389 shares of the stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $462.70, for a total transaction of $1,105,390.30. Following the completion of the sale, the chief financial officer owned 60,486 shares of the company’s stock, valued at approximately $27,986,872.20. This trade represents a 3.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 49,378 shares of company stock valued at $21,228,464 in the last three months. 0.14% of the stock is owned by company insiders.

Trane Technologies Trading Up 0.2%

Shares of Trane Technologies stock opened at $422.66 on Monday. The company has a market capitalization of $93.55 billion, a P/E ratio of 32.56, a price-to-earnings-growth ratio of 2.22 and a beta of 1.19. The stock has a fifty day simple moving average of $426.27 and a 200 day simple moving average of $417.13. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $479.37. The company has a current ratio of 1.25, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.05. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The business had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $5.09 billion. During the same period last year, the business earned $2.61 EPS. The business’s revenue was up 5.6% on a year-over-year basis. On average, sell-side analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 6th will be given a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, March 6th. This is an increase from Trane Technologies’s previous quarterly dividend of $0.94. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.0%. Trane Technologies’s payout ratio is 32.36%.

Trane Technologies Profile

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.