Los Angeles Capital Management LLC Increases Stock Position in Trane Technologies plc (NYSE:TT)

Los Angeles Capital Management LLC raised its position in shares of Trane Technologies plc (NYSE:TTFree Report) by 19.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 691,856 shares of the company’s stock after buying an additional 112,369 shares during the quarter. Trane Technologies comprises approximately 0.7% of Los Angeles Capital Management LLC’s portfolio, making the stock its 28th biggest position. Los Angeles Capital Management LLC’s holdings in Trane Technologies were worth $207,695,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BKM Wealth Management LLC purchased a new position in Trane Technologies during the fourth quarter valued at $25,000. Sachetta LLC purchased a new position in Trane Technologies during the fourth quarter valued at $27,000. Motco purchased a new position in Trane Technologies during the fourth quarter valued at $27,000. General Partner Inc. purchased a new position in Trane Technologies during the first quarter valued at $54,000. Finally, Gables Capital Management Inc. lifted its position in Trane Technologies by 68.2% during 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. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on TT shares. UBS Group lifted their price target on Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, June 3rd. Citigroup lifted their price target on Trane Technologies from $355.00 to $366.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. The Goldman Sachs Group lifted their price target on Trane Technologies from $287.00 to $326.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. JPMorgan Chase & Co. lifted their price target on Trane Technologies from $247.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Finally, Robert W. Baird lifted their price target on Trane Technologies from $315.00 to $344.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Trane Technologies presently has a consensus rating of “Hold” and a consensus target price of $309.79.

Read Our Latest Stock Analysis on TT

Trane Technologies Price Performance

Shares of TT traded up $10.07 during mid-day trading on Wednesday, hitting $345.38. 1,569,430 shares of the stock were exchanged, compared to its average volume of 1,085,744. The company has a market cap of $78.18 billion, a PE ratio of 36.90, a price-to-earnings-growth ratio of 2.67 and a beta of 1.01. Trane Technologies plc has a 52-week low of $182.96 and a 52-week high of $345.46. The firm has a 50-day moving average of $318.69 and a two-hundred day moving average of $284.71. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.74 and a current ratio of 1.13.

Trane Technologies (NYSE:TTGet Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.30. The business had revenue of $4.22 billion for the quarter, compared to analysts’ expectations of $3.99 billion. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. The company’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.41 EPS. On average, equities analysts predict that Trane Technologies plc will post 10.46 earnings per share for the current year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be issued a dividend of $0.84 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $3.36 annualized dividend and a dividend yield of 0.97%. Trane Technologies’s dividend payout ratio (DPR) is 35.90%.

Insider Transactions at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $318.67, for a total transaction of $1,274,680.00. Following the transaction, the chief financial officer now owns 61,293 shares of the company’s stock, valued at approximately $19,532,240.31. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Trane Technologies news, SVP Evan M. Turtz sold 8,988 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $321.30, for a total value of $2,887,844.40. Following the transaction, the senior vice president now owns 20,758 shares of the company’s stock, valued at approximately $6,669,545.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Christopher J. Kuehn sold 4,000 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $318.67, for a total value of $1,274,680.00. Following the completion of the transaction, the chief financial officer now directly owns 61,293 shares in the company, valued at approximately $19,532,240.31. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

Trane Technologies Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Trane Technologies (NYSE:TT)

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