Trane Technologies plc (NYSE:TT) Shares Purchased by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC grew its stake in shares of Trane Technologies plc (NYSE:TT) by 16.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 566,893 shares of the company’s stock after acquiring an additional 78,482 shares during the period. Trane Technologies comprises about 0.9% of Los Angeles Capital Management LLC’s portfolio, making the stock its 17th largest holding. Los Angeles Capital Management LLC owned 0.25% of Trane Technologies worth $209,382,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Global Wealth Strategies & Associates acquired a new position in shares of Trane Technologies in the 4th quarter valued at $26,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Trane Technologies in the third quarter worth approximately $27,000. Sound Income Strategies LLC raised its holdings in shares of Trane Technologies by 1,314.3% during the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after acquiring an additional 92 shares during the period. Pittenger & Anderson Inc. acquired a new position in Trane Technologies in the 3rd quarter worth approximately $39,000. Finally, Golden State Wealth Management LLC purchased a new position in Trane Technologies during the 4th quarter worth approximately $39,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Trading Down 2.3 %

TT opened at $346.49 on Tuesday. The firm has a 50 day simple moving average of $373.78 and a 200 day simple moving average of $380.36. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. Trane Technologies plc has a fifty-two week low of $279.00 and a fifty-two week high of $422.00. The company has a market cap of $77.72 billion, a price-to-earnings ratio of 30.80, a price-to-earnings-growth ratio of 2.50 and a beta of 1.05.

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

Trane Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders 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 dividend on an annualized basis and a yield of 1.09%. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s dividend payout ratio is 29.87%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on TT shares. 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. 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. HSBC lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price target for the company. in a research report on Thursday, October 31st. Wells Fargo & Company dropped their price objective on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a research note on Friday, January 31st. Finally, Barclays increased their price objective on Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $415.25.

Insider Transactions at Trane Technologies

In related news, 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 transaction of $113,882.16. Following the transaction, the senior vice president now directly owns 20,513 shares in the company, valued at approximately $7,346,115.56. The trade was a 1.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Mairead Magner sold 4,329 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now owns 12,893 shares in the company, valued at $5,363,488. This represents a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,563 shares of company stock valued at $4,388,966 in the last ninety days. 0.38% of the stock is currently owned by corporate insiders.

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.