AustralianSuper Pty Ltd Increases Stock Holdings in Trane Technologies plc (NYSE:TT)

AustralianSuper Pty Ltd boosted its position in Trane Technologies plc (NYSE:TT) by 470.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 179,794 shares of the company’s stock after purchasing an additional 148,302 shares during the period. AustralianSuper Pty Ltd owned about 0.08% of Trane Technologies worth $66,407,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of TT. International Assets Investment Management LLC lifted its position in shares of Trane Technologies by 35,914.4% during the 3rd quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company’s stock valued at $639,514,000 after buying an additional 1,640,569 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Trane Technologies by 35.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock valued at $991,460,000 after buying an additional 671,691 shares in the last quarter. FMR LLC lifted its position in shares of Trane Technologies by 4.0% during the 3rd quarter. FMR LLC now owns 10,337,672 shares of the company’s stock valued at $4,018,563,000 after buying an additional 397,537 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Trane Technologies by 42.9% during the 4th quarter. Nordea Investment Management AB now owns 978,275 shares of the company’s stock valued at $361,874,000 after buying an additional 293,916 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Trane Technologies by 76.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 417,193 shares of the company’s stock valued at $162,175,000 after buying an additional 181,335 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Mairead Magner sold 4,329 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the completion of the transaction, the senior vice president now owns 12,893 shares in the company, valued at $5,363,488. The trade was a 25.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Evan M. Turtz sold 318 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $358.12, for a total value of $113,882.16. Following the transaction, the senior vice president now owns 20,513 shares of the company’s stock, valued at approximately $7,346,115.56. The trade was a 1.53 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,563 shares of company stock valued at $4,388,966. 0.38% of the stock is currently owned by insiders.

Trane Technologies Stock Performance

NYSE TT opened at $363.58 on Friday. The company has a market cap of $81.81 billion, a P/E ratio of 32.32, a P/E/G ratio of 2.44 and a beta of 1.05. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. The business’s 50 day moving average price is $379.41 and its 200-day moving average price is $377.91. Trane Technologies plc has a fifty-two week low of $270.50 and a fifty-two week high of $422.00.

Trane Technologies (NYSE:TT) last released its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. Sell-side analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.76 annualized dividend and a dividend yield of 1.03%. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s payout ratio is currently 29.87%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on TT shares. Wells Fargo & Company decreased their target price on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a research note on Friday, January 31st. UBS Group decreased their target price on Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Citigroup decreased their target price on Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. HSBC downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price on the stock. in a research note on Thursday, October 31st. Finally, Northcoast Research started coverage on Trane Technologies in a research note on Friday, November 22nd. They set a “buy” rating and a $500.00 target price on the stock. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $415.25.

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.