Trane Technologies plc $TT Shares Acquired by Ameritas Advisory Services LLC

Key Points

• Ameritas Advisory Services LLC boosted its Trane Technologies stake by 336.4% in the fourth quarter, ending with 5,054 shares valued at about $1.97 million.
• Trane Technologies reported better-than-expected first-quarter results, with earnings per share of $2.63 versus estimates of $2.53 and revenue of $4.97 billion versus expectations of $4.81 billion.
• The company also announced a quarterly dividend of $1.05 per share, payable June 30, while analysts maintain a Moderate Buy consensus with an average price target of $505.56.

Ameritas Advisory Services LLC increased its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 336.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,054 shares of the company's stock after purchasing an additional 3,896 shares during the period. Ameritas Advisory Services LLC's holdings in Trane Technologies were worth $1,967,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TT. Vanguard Group Inc. lifted its stake in Trane Technologies by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 20,020,321 shares of the company's stock valued at $7,791,909,000 after purchasing an additional 192,270 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Trane Technologies by 10.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company's stock worth $6,550,975,000 after acquiring an additional 1,433,563 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Trane Technologies by 2.9% during the 4th quarter. Nordea Investment Management AB now owns 2,586,506 shares of the company's stock worth $1,010,419,000 after acquiring an additional 72,998 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Trane Technologies by 9.2% in the 3rd quarter. Bank of America Corp DE now owns 2,422,690 shares of the company's stock worth $1,022,278,000 after acquiring an additional 203,766 shares during the last quarter. Finally, Legal & General Group Plc raised its position in shares of Trane Technologies by 2.4% during the third quarter. Legal & General Group Plc now owns 1,880,221 shares of the company's stock worth $793,378,000 after purchasing an additional 44,243 shares during the period. 82.97% of the stock is owned by institutional investors.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, CFO Christopher J. Kuehn sold 8,619 shares of the business's stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total value of $3,878,550.00. Following the completion of the sale, the chief financial officer owned 60,576 shares of the company's stock, valued at $27,259,200. The trade was a 12.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald E. Simmons sold 4,593 shares of the company's stock in a transaction dated 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 sale, the insider owned 3,819 shares of the company's stock, valued at approximately $1,909,500. This trade represents a 54.60% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 53,654 shares of company stock worth $23,269,523 over the last quarter. Company insiders own 0.14% of the company's stock.

Trane Technologies Trading Up 0.6%

Shares of NYSE:TT opened at $470.52 on Thursday. The firm has a fifty day moving average of $449.02 and a two-hundred day moving average of $428.20. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.46. Trane Technologies plc has a 12-month low of $348.06 and a 12-month high of $503.47. The firm has a market capitalization of $104.01 billion, a P/E ratio of 36.39, a price-to-earnings-growth ratio of 2.16 and a beta of 1.25.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings results on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, topping analysts' consensus estimates of $2.53 by $0.10. The business had revenue of $4.97 billion for the quarter, compared to the consensus estimate of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. Trane Technologies's revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.45 earnings per share. On average, equities analysts expect that Trane Technologies plc will post 14.87 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be paid a dividend of $1.05 per share. The ex-dividend date is Friday, June 5th. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. Trane Technologies's dividend payout ratio is 32.48%.

Analyst Ratings Changes

TT has been the subject of a number of recent analyst reports. BNP Paribas Exane initiated coverage on Trane Technologies in a research report on Tuesday, April 14th. They issued an "outperform" rating and a $550.00 price target for the company. Wells Fargo & Company boosted their price objective on Trane Technologies from $375.00 to $400.00 and gave the stock an "underweight" rating in a report on Friday, January 30th. Royal Bank Of Canada upped their price objective on shares of Trane Technologies from $440.00 to $501.00 and gave the company a "sector perform" rating in a research note on Friday, May 1st. Weiss Ratings reiterated a "buy (b)" rating on shares of Trane Technologies in a report on Monday, April 20th. Finally, Evercore started coverage on shares of Trane Technologies in a research report on Monday, April 13th. They issued an "outperform" rating and a $535.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Trane Technologies presently has an average rating of "Moderate Buy" and a consensus price target of $505.56.

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.

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