Xponance Inc. Raises Holdings in Trane Technologies plc (NYSE:TT)

Xponance Inc. grew its holdings in Trane Technologies plc (NYSE:TT) by 18.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 43,825 shares of the company’s stock after acquiring an additional 6,869 shares during the quarter. Xponance Inc.’s holdings in Trane Technologies were worth $10,689,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Trane Technologies by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 18,133,851 shares of the company’s stock valued at $2,769,040,000 after purchasing an additional 77,924 shares during the period. JPMorgan Chase & Co. lifted its position in Trane Technologies by 5.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,085,662 shares of the company’s stock worth $3,466,852,000 after acquiring an additional 880,583 shares during the period. FMR LLC lifted its position in Trane Technologies by 12.4% during the 3rd quarter. FMR LLC now owns 5,743,154 shares of the company’s stock worth $1,165,343,000 after acquiring an additional 632,598 shares during the period. Geode Capital Management LLC lifted its position in Trane Technologies by 1.7% during the 1st quarter. Geode Capital Management LLC now owns 4,765,976 shares of the company’s stock worth $874,863,000 after acquiring an additional 80,607 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in Trane Technologies by 2.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,050,779 shares of the company’s stock worth $821,952,000 after acquiring an additional 103,823 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Transactions at Trane Technologies

In other news, CEO David S. Regnery sold 6,990 shares of the firm’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 sale, the chief executive officer now 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 is available through the SEC website. In other news, CFO Christopher J. Kuehn sold 2,767 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $268.31, for a total transaction of $742,413.77. Following the sale, the chief financial officer now owns 54,788 shares in the company, valued at $14,700,168.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David S. Regnery sold 6,990 shares of the firm’s 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 sale, the chief executive officer now owns 113,874 shares in the company, valued at approximately $32,589,600.06. The disclosure for this sale can be found here. Insiders have sold 29,874 shares of company stock worth $8,462,825 over the last quarter. 0.39% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Barclays increased their price objective on Trane Technologies from $286.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. The Goldman Sachs Group increased their target price on Trane Technologies from $253.00 to $287.00 and gave the stock a “neutral” rating in a research note on Monday, February 5th. Citigroup increased their target price on Trane Technologies from $309.00 to $355.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Royal Bank of Canada increased their target price on Trane Technologies from $231.00 to $246.00 and gave the stock a “sector perform” rating in a research note on Friday, February 2nd. Finally, Stephens increased their target price on Trane Technologies from $235.00 to $280.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $251.83.

Trane Technologies Price Performance

NYSE TT traded up $3.04 during mid-day trading on Friday, hitting $292.60. The stock had a trading volume of 99,356 shares, compared to its average volume of 985,358. The company has a quick ratio of 0.78, a current ratio of 1.13 and a debt-to-equity ratio of 0.57. The company has a 50 day simple moving average of $289.41 and a 200 day simple moving average of $250.29. The company has a market cap of $66.44 billion, a price-to-earnings ratio of 32.92, a P/E/G ratio of 2.47 and a beta of 1.05. Trane Technologies plc has a 52-week low of $162.04 and a 52-week high of $306.98.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Thursday, February 1st. The company reported $2.17 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.04. The company had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.43 billion. Trane Technologies had a return on equity of 32.01% and a net margin of 11.45%. Trane Technologies’s revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.82 earnings per share. Equities analysts forecast that Trane Technologies plc will post 10.2 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 1.15%. The ex-dividend date is Thursday, June 6th. Trane Technologies’s payout ratio is 38.23%.

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.