Advisors Capital Management LLC Has $68.69 Million Stock Holdings in Trane Technologies plc $TT

Advisors Capital Management LLC grew its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 2.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 176,483 shares of the company's stock after buying an additional 4,295 shares during the quarter. Trane Technologies accounts for approximately 0.8% of Advisors Capital Management LLC's holdings, making the stock its 28th biggest holding. Advisors Capital Management LLC owned 0.08% of Trane Technologies worth $68,687,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Financial Consulate Inc. acquired a new position in shares of Trane Technologies in the 3rd quarter valued at $25,000. United Community Bank raised its stake in shares of Trane Technologies by 134.4% in the 3rd quarter. United Community Bank now owns 75 shares of the company's stock valued at $32,000 after buying an additional 43 shares in the last quarter. JPL Wealth Management LLC acquired a new position in shares of Trane Technologies in the 3rd quarter valued at $32,000. Halbert Hargrove Global Advisors LLC grew its holdings in shares of Trane Technologies by 34.2% in the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 102 shares of the company's stock worth $43,000 after purchasing an additional 26 shares during the last quarter. Finally, KERR FINANCIAL PLANNING Corp bought a new stake in shares of Trane Technologies in the 3rd quarter worth about $42,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Analyst Ratings Changes

TT has been the topic of several analyst reports. Melius Research raised shares of Trane Technologies from a "hold" rating to a "buy" rating and set a $490.00 target price on the stock in a report on Wednesday, January 7th. UBS Group lowered their target price on shares of Trane Technologies from $544.00 to $520.00 and set a "buy" rating on the stock in a report on Monday, January 5th. BNP Paribas Exane initiated coverage on shares of Trane Technologies in a report on Tuesday, April 14th. They issued an "outperform" rating and a $550.00 target price on the stock. JPMorgan Chase & Co. upped their target price on shares of Trane Technologies from $434.00 to $460.00 and gave the stock a "neutral" rating in a report on Friday, January 30th. Finally, Citigroup upped their target price on shares of Trane Technologies from $513.00 to $525.00 and gave the stock a "buy" rating in a report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $492.94.

Trane Technologies Stock Up 0.3%

Shares of NYSE:TT opened at $486.88 on Friday. Trane Technologies plc has a 12 month low of $343.09 and a 12 month high of $490.15. The company's 50-day moving average price is $445.72 and its two-hundred day moving average price is $423.57. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. The firm has a market cap of $107.76 billion, a P/E ratio of 37.51, a P/E/G ratio of 2.56 and a beta of 1.21.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings data on Thursday, January 29th. The company reported $2.86 EPS for the quarter, topping analysts' consensus estimates of $2.81 by $0.05. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The firm had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.09 billion. During the same quarter in the prior year, the firm earned $2.61 EPS. The company's revenue was up 5.6% on a year-over-year basis. As a group, research analysts forecast that Trane Technologies plc will post 14.76 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th will be issued a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. Trane Technologies's dividend payout ratio is currently 32.36%.

Insider Activity at Trane Technologies

In other Trane Technologies news, CAO Elizabeth A. Elwell sold 635 shares of the stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $422.70, for a total transaction of $268,414.50. Following the sale, the chief accounting officer owned 7,100 shares of the company's stock, valued at $3,001,170. This represents a 8.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Christopher J. Kuehn sold 8,619 shares of the stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total transaction of $3,878,550.00. Following the sale, the chief financial officer directly owned 60,576 shares in the company, valued at approximately $27,259,200. This represents a 12.46% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 57,997 shares of company stock worth $25,107,014 in the last quarter. Insiders own 0.14% of the company's stock.

Trane Technologies Company Profile

Trane Technologies NYSE: TT is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.