Los Angeles Capital Management LLC Buys 6,131 Shares of Trane Technologies plc (NYSE:TT)

Los Angeles Capital Management LLC boosted its stake in Trane Technologies plc (NYSE:TT - Free Report) by 1.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 573,024 shares of the company's stock after acquiring an additional 6,131 shares during the period. Trane Technologies accounts for approximately 0.9% of Los Angeles Capital Management LLC's holdings, making the stock its 24th biggest holding. Los Angeles Capital Management LLC owned 0.26% of Trane Technologies worth $193,063,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in TT. CWA Asset Management Group LLC boosted its holdings in shares of Trane Technologies by 19.2% during the 1st quarter. CWA Asset Management Group LLC now owns 1,135 shares of the company's stock valued at $382,000 after buying an additional 183 shares in the last quarter. Ethic Inc. boosted its holdings in shares of Trane Technologies by 150.1% during the 4th quarter. Ethic Inc. now owns 24,883 shares of the company's stock valued at $9,190,000 after buying an additional 14,932 shares in the last quarter. Proficio Capital Partners LLC boosted its holdings in shares of Trane Technologies by 28.3% during the 4th quarter. Proficio Capital Partners LLC now owns 685 shares of the company's stock valued at $253,000 after buying an additional 151 shares in the last quarter. Brighton Jones LLC boosted its holdings in shares of Trane Technologies by 60.0% during the 4th quarter. Brighton Jones LLC now owns 6,194 shares of the company's stock valued at $2,288,000 after buying an additional 2,323 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its holdings in shares of Trane Technologies by 495.5% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,252 shares of the company's stock valued at $1,433,000 after buying an additional 3,538 shares in the last quarter. Institutional investors own 82.97% of the company's stock.

Trane Technologies Stock Down 0.6%

NYSE TT opened at $447.29 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.74 and a current ratio of 1.09. 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. Trane Technologies plc has a one year low of $298.15 and a one year high of $451.87. The stock has a 50 day moving average price of $429.64 and a 200-day moving average price of $383.59.

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

Trane Technologies Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. HSBC raised Trane Technologies from a "hold" rating to a "buy" rating and lifted their price target for the stock from $405.00 to $415.00 in a research report on Friday, April 25th. UBS Group boosted their target price on Trane Technologies from $470.00 to $500.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Hsbc Global Res raised Trane Technologies from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Citigroup boosted their target price on Trane Technologies from $445.00 to $502.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Finally, Stephens raised shares of Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price target for the company in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $441.40.

Insiders Place Their Bets

In related news, insider Donald E. Simmons sold 3,571 shares of Trane Technologies stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total value of $1,356,980.00. Following the completion of the sale, the insider directly owned 3,593 shares in the company, valued at $1,365,340. The trade was a 49.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.38% of the stock is currently owned by insiders.

Trane Technologies Company Profile

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.

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