Bailard Inc. Buys 4,304 Shares of Trane Technologies plc (NYSE:TT)

Bailard Inc. lifted its stake in Trane Technologies plc (NYSE:TT) by 8.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 53,320 shares of the company’s stock after acquiring an additional 4,304 shares during the period. Bailard Inc.’s holdings in Trane Technologies were worth $13,005,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. JPMorgan Chase & Co. raised its stake in shares of Trane Technologies by 5.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 17,085,662 shares of the company’s stock valued at $3,466,852,000 after acquiring an additional 880,583 shares in the last quarter. FMR LLC grew its holdings in Trane Technologies by 12.4% in the 3rd quarter. FMR LLC now owns 5,743,154 shares of the company’s stock valued at $1,165,343,000 after buying an additional 632,598 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in Trane Technologies by 2.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,050,779 shares of the company’s stock valued at $821,952,000 after buying an additional 103,823 shares during the last quarter. Morgan Stanley grew its holdings in Trane Technologies by 0.6% in the 3rd quarter. Morgan Stanley now owns 2,797,382 shares of the company’s stock valued at $567,617,000 after buying an additional 17,758 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in Trane Technologies by 4.3% in the 3rd quarter. Northern Trust Corp now owns 2,522,449 shares of the company’s stock valued at $511,830,000 after buying an additional 104,653 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Paul A. Camuti sold 508 shares of Trane Technologies stock in a transaction on Friday, February 9th. The stock was sold at an average price of $273.34, for a total transaction of $138,856.72. Following the completion of the sale, the executive vice president now directly owns 89,447 shares of the company’s stock, valued at $24,449,442.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Christopher J. Kuehn sold 3,762 shares of Trane Technologies stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $286.48, for a total transaction of $1,077,737.76. Following the completion of the sale, the chief financial officer now directly owns 61,691 shares of the company’s stock, valued at $17,673,237.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Paul A. Camuti sold 508 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $273.34, for a total value of $138,856.72. Following the completion of the transaction, the executive vice president now directly owns 89,447 shares of the company’s stock, valued at $24,449,442.98. The disclosure for this sale can be found here. Insiders sold a total of 29,874 shares of company stock valued at $8,462,825 over the last three months. Company insiders own 0.39% of the company’s stock.

Trane Technologies Trading Up 0.5 %

Shares of TT stock traded up $1.40 on Wednesday, reaching $296.49. 907,898 shares of the stock were exchanged, compared to its average volume of 994,304. The stock has a market cap of $67.32 billion, a PE ratio of 33.73, a P/E/G ratio of 2.46 and a beta of 1.05. Trane Technologies plc has a one year low of $162.04 and a one year high of $306.98. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.13 and a quick ratio of 0.78. The stock has a 50 day moving average price of $291.04 and a 200 day moving average price of $253.23.

Trane Technologies (NYSE:TT) last released its earnings results on Thursday, February 1st. The company reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates 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%. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.82 earnings per share. Equities research analysts forecast that Trane Technologies plc will post 10.2 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.13%. Trane Technologies’s dividend payout ratio (DPR) is presently 38.23%.

Wall Street Analyst Weigh In

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

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.