AustralianSuper Pty Ltd Has $93.36 Million Stock Holdings in Trane Technologies plc (NYSE:TT)

AustralianSuper Pty Ltd raised its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 54.1% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 277,109 shares of the company's stock after buying an additional 97,315 shares during the period. AustralianSuper Pty Ltd owned about 0.12% of Trane Technologies worth $93,364,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Trane Technologies by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 19,235,570 shares of the company's stock worth $7,104,658,000 after buying an additional 152,353 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Trane Technologies by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 4,775,263 shares of the company's stock worth $1,760,549,000 after buying an additional 136,349 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Trane Technologies by 4.1% in the 4th quarter. Ameriprise Financial Inc. now owns 3,343,390 shares of the company's stock worth $1,234,908,000 after buying an additional 130,867 shares during the last quarter. Norges Bank acquired a new stake in Trane Technologies in the 4th quarter worth about $1,117,816,000. Finally, Northern Trust Corp boosted its holdings in Trane Technologies by 20.1% in the 4th quarter. Northern Trust Corp now owns 2,567,527 shares of the company's stock worth $948,316,000 after buying an additional 429,953 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Trane Technologies Price Performance

Trane Technologies stock traded down $2.77 during mid-day trading on Friday, reaching $447.29. The company had a trading volume of 1,296,591 shares, compared to its average volume of 1,329,571. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $451.87. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.09 and a quick ratio of 0.74. The company has a market capitalization of $99.75 billion, a P/E ratio of 37.21, a P/E/G ratio of 2.91 and a beta of 1.15. The stock's 50-day simple moving average is $429.64 and its 200-day simple moving average is $383.59.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, topping analysts' consensus estimates of $2.20 by $0.25. The company had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.46 billion. Trane Technologies had a net margin of 13.47% and a return on equity of 36.10%. Trane Technologies's revenue was up 11.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.94 earnings per share. On average, equities analysts predict that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be issued a dividend of $0.94 per share. The ex-dividend date is Friday, September 5th. This represents a $3.76 annualized dividend and a yield of 0.84%. Trane Technologies's payout ratio is 31.28%.

Insider Transactions at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of Trane Technologies stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the transaction, the insider directly owned 3,593 shares in the company, valued at approximately $1,365,340. The trade was a 49.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.38% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Robert W. Baird boosted their target price on Trane Technologies from $396.00 to $450.00 and gave the stock a "neutral" rating in a report on Thursday. The Goldman Sachs Group upped their price objective on Trane Technologies from $416.00 to $460.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Royal Bank Of Canada upped their price objective on Trane Technologies from $363.00 to $408.00 and gave the company a "sector perform" rating in a report on Thursday, May 1st. JPMorgan Chase & Co. upped their price objective on Trane Technologies from $334.00 to $400.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Finally, HSBC upgraded Trane Technologies from a "hold" rating to a "buy" rating and upped their price objective for the company from $405.00 to $415.00 in a report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Trane Technologies currently has a consensus rating of "Moderate Buy" and a consensus target price of $441.40.

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.