AustralianSuper Pty Ltd Grows Position in Trane Technologies plc (NYSE:TT)

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

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. bought a new position in shares of Trane Technologies in the third quarter worth $27,000. Global Wealth Strategies & Associates purchased a new stake in Trane Technologies during the 4th quarter worth about $26,000. DT Investment Partners LLC bought a new position in Trane Technologies in the 3rd quarter worth about $36,000. Sound Income Strategies LLC grew its holdings in Trane Technologies by 1,314.3% during the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company's stock valued at $37,000 after buying an additional 92 shares in the last quarter. Finally, Pittenger & Anderson Inc. bought a new stake in shares of Trane Technologies during the third quarter valued at about $39,000. 82.97% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO David S. Regnery sold 2,754 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total transaction of $984,114.36. Following the completion of the transaction, the chief executive officer now owns 132,969 shares in the company, valued at $47,515,142.46. This represents a 2.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Mairead Magner sold 4,329 shares of the firm's stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total value of $1,800,864.00. Following the completion of the sale, the senior vice president now directly owns 12,893 shares of the company's stock, valued at $5,363,488. The trade was a 25.14 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,563 shares of company stock valued at $4,388,966. Insiders own 0.38% of the company's stock.

Analyst Upgrades and Downgrades

TT has been the subject of several recent analyst reports. Royal Bank of Canada boosted their price objective on shares of Trane Technologies from $390.00 to $395.00 and gave the company a "sector perform" rating in a research note on Friday, January 3rd. Hsbc Global Res downgraded Trane Technologies from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 31st. Melius cut Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 target price for the company. in a research report on Tuesday, January 28th. UBS Group lowered their price target on Trane Technologies from $500.00 to $470.00 and set a "buy" rating on the stock in a report on Friday, January 31st. Finally, Citigroup cut their price objective on Trane Technologies from $478.00 to $476.00 and set a "buy" rating for the company in a report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $415.25.

Trane Technologies Trading Up 2.0 %

Shares of TT traded up $7.13 during trading hours on Wednesday, hitting $370.04. The company had a trading volume of 1,476,935 shares, compared to its average volume of 1,506,417. Trane Technologies plc has a 52-week low of $270.50 and a 52-week high of $422.00. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The stock's 50 day moving average price is $376.98 and its 200 day moving average price is $379.31. The firm has a market cap of $83.00 billion, a P/E ratio of 32.89, a P/E/G ratio of 2.48 and a beta of 1.05.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The company reported $2.61 EPS for the quarter, topping analysts' consensus estimates of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. On average, research analysts predict that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a $0.94 dividend. This is a boost from Trane Technologies's previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.02%. Trane Technologies's payout ratio is presently 29.87%.

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.