TCW Group Inc. Buys 4,113 Shares of Trane Technologies plc (NYSE:TT)

Key Points

• TCW Group Inc. increased its holdings in Trane Technologies plc by 6.3%, acquiring an additional 4,113 shares, bringing its total to 69,742 shares valued at approximately $23.5 million.
• Insider Donald E. Simmons sold 3,571 shares at an average price of $380.00, representing a significant decrease in his holdings by nearly 50%.
• Analysts have a consensus rating of "Moderate Buy" for Trane Technologies, with price targets ranging from $400.00 to $500.00, following several upgrades from brokerages.

TCW Group Inc. raised its position in Trane Technologies plc (NYSE:TT - Free Report) by 6.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 69,742 shares of the company's stock after acquiring an additional 4,113 shares during the quarter. TCW Group Inc.'s holdings in Trane Technologies were worth $23,497,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of TT. WFA Asset Management Corp boosted its stake in Trane Technologies by 208.3% during the first quarter. WFA Asset Management Corp now owns 74 shares of the company's stock worth $25,000 after acquiring an additional 50 shares in the last quarter. Minot DeBlois Advisors LLC purchased a new position in Trane Technologies in the fourth quarter worth about $26,000. Vermillion & White Wealth Management Group LLC purchased a new position in Trane Technologies in the fourth quarter worth about $28,000. Opal Wealth Advisors LLC purchased a new position in Trane Technologies in the first quarter worth about $31,000. Finally, Bogart Wealth LLC raised its holdings in Trane Technologies by 97.9% in the first quarter. Bogart Wealth LLC now owns 93 shares of the company's stock worth $31,000 after buying an additional 46 shares during the last quarter. Institutional investors own 82.97% of the company's stock.

Trane Technologies Stock Performance

TT stock traded up $0.38 during midday trading on Monday, reaching $472.45. 1,209,811 shares of the company's stock traded hands, compared to its average volume of 1,020,104. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $476.19. The stock has a market cap of $105.37 billion, a P/E ratio of 39.31, a PEG ratio of 3.07 and a beta of 1.15. The company has a current ratio of 1.09, a quick ratio of 0.74 and a debt-to-equity ratio of 0.52. The stock's 50-day moving average is $433.99 and its 200 day moving average is $386.90.

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 business had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.46 billion. Trane Technologies had a net margin of 13.47% and a return on equity of 36.10%. The company's revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.94 earnings per share. As a group, analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be given a $0.94 dividend. The ex-dividend date is Friday, September 5th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.80%. Trane Technologies's payout ratio is currently 31.28%.

Insider Buying and Selling at Trane Technologies

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

Analyst Ratings Changes

Several research analysts have issued reports on TT shares. JPMorgan Chase & Co. lifted their target price on shares of Trane Technologies from $334.00 to $400.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Wells Fargo & Company lifted their target price on shares of Trane Technologies from $370.00 to $410.00 and gave the stock an "underweight" rating in a report on Tuesday, July 1st. Citigroup lifted their target price on shares of Trane Technologies from $445.00 to $502.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Hsbc Global Res raised shares of Trane Technologies from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Finally, UBS Group boosted their price objective on shares of Trane Technologies from $470.00 to $500.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target 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.