Capital International Sarl Makes New $5.80 Million Investment in Trane Technologies plc $TT

Key Points

• Capital International Sarl initiated a new position in Trane Technologies during the fourth quarter, buying 14,907 shares worth about $5.8 million.
• Trane Technologies reported better-than-expected Q1 results, with EPS of $2.63 and revenue of $4.97 billion, both ahead of analyst estimates.
• The company also announced a quarterly dividend of $1.05 per share, payable Sept. 30, while analysts currently rate the stock a Moderate Buy with a consensus target price of $506.56.

Capital International Sarl bought a new position in shares of Trane Technologies plc (NYSE:TT - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 14,907 shares of the company's stock, valued at approximately $5,802,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Brighton Jones LLC boosted its position in shares of Trane Technologies by 60.0% in the fourth quarter. Brighton Jones LLC now owns 6,194 shares of the company's stock valued at $2,288,000 after acquiring an additional 2,323 shares during the period. Sivia Capital Partners LLC boosted its position in shares of Trane Technologies by 22.4% in the second quarter. Sivia Capital Partners LLC now owns 1,665 shares of the company's stock valued at $728,000 after acquiring an additional 305 shares during the period. Schnieders Capital Management LLC. bought a new stake in shares of Trane Technologies in the second quarter valued at approximately $227,000. Nebula Research & Development LLC boosted its position in shares of Trane Technologies by 178.0% in the second quarter. Nebula Research & Development LLC now owns 2,371 shares of the company's stock valued at $1,037,000 after acquiring an additional 1,518 shares during the period. Finally, Treasurer of the State of North Carolina boosted its position in shares of Trane Technologies by 0.5% in the second quarter. Treasurer of the State of North Carolina now owns 104,140 shares of the company's stock valued at $45,552,000 after acquiring an additional 497 shares during the period. Institutional investors own 82.97% of the company's stock.

Trane Technologies Stock Performance

Shares of NYSE TT opened at $456.51 on Monday. The business has a fifty day simple moving average of $458.85 and a 200 day simple moving average of $431.46. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $100.91 billion, a price-to-earnings ratio of 35.31, a PEG ratio of 2.10 and a beta of 1.20. Trane Technologies plc has a one year low of $348.06 and a one year high of $503.47.

Trane Technologies (NYSE:TT - Get Free Report) last issued its earnings results on Friday, May 1st. The company reported $2.63 EPS for the quarter, beating analysts' consensus estimates of $2.53 by $0.10. The business had revenue of $4.97 billion during the quarter, compared to analyst estimates of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.Trane Technologies's revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.45 earnings per share. Sell-side analysts expect that Trane Technologies plc will post 14.88 EPS for the current year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 4th will be paid a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, September 4th. Trane Technologies's dividend payout ratio is currently 32.48%.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, CFO Christopher J. Kuehn sold 8,619 shares of the stock in a transaction on 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 completion of the transaction, the chief financial officer directly owned 60,576 shares in the company, valued at $27,259,200. This represents a 12.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald E. Simmons sold 4,593 shares of the stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total value of $2,296,500.00. Following the transaction, the insider owned 3,819 shares of the company's stock, valued at $1,909,500. This represents a 54.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.43% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on TT shares. Evercore started coverage on Trane Technologies in a research report on Monday, April 13th. They issued an "outperform" rating and a $535.00 price objective for the company. Citigroup increased their price objective on Trane Technologies from $525.00 to $570.00 and gave the company a "buy" rating in a research report on Friday, May 1st. Barclays increased their price objective on Trane Technologies from $507.00 to $585.00 and gave the company an "overweight" rating in a research report on Friday, May 1st. Royal Bank Of Canada increased their price objective on Trane Technologies from $440.00 to $501.00 and gave the company a "sector perform" rating in a research report on Friday, May 1st. Finally, JPMorgan Chase & Co. increased their price objective on Trane Technologies from $460.00 to $476.00 and gave the company a "neutral" rating in a research report on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $506.56.

Trane Technologies 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.

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