Trane Technologies plc $TT Shares Acquired by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP grew its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 3.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,035,241 shares of the company's stock after purchasing an additional 32,286 shares during the quarter. Dimensional Fund Advisors LP owned 0.47% of Trane Technologies worth $431,347,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in Trane Technologies in the 4th quarter valued at approximately $1,163,124,000. Capital International Investors acquired a new position in shares of Trane Technologies in the fourth quarter worth $324,639,000. Hsbc Holdings PLC increased its position in shares of Trane Technologies by 215.9% during the first quarter. Hsbc Holdings PLC now owns 653,423 shares of the company's stock worth $271,950,000 after acquiring an additional 446,598 shares during the period. Corient Private Wealth LLC raised its stake in shares of Trane Technologies by 135.4% in the second quarter. Corient Private Wealth LLC now owns 735,589 shares of the company's stock valued at $321,757,000 after acquiring an additional 423,090 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of Trane Technologies by 13,460.8% in the fourth quarter. SG Americas Securities LLC now owns 423,504 shares of the company's stock valued at $164,828,000 after acquiring an additional 420,381 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Insider Activity

In other news, insider Donald E. Simmons sold 4,593 shares of Trane Technologies stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $500.00, for a total value of $2,296,500.00. Following the transaction, the insider directly owned 3,819 shares of the company's stock, valued at $1,909,500. The trade was a 54.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.43% of the company's stock.

Trane Technologies Stock Down 0.3%

TT opened at $468.40 on Tuesday. Trane Technologies plc has a one year low of $348.06 and a one year high of $505.87. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10. The stock has a market capitalization of $103.54 billion, a P/E ratio of 36.23, a price-to-earnings-growth ratio of 2.16 and a beta of 1.19. The business's 50-day simple moving average is $469.73 and its 200-day simple moving average is $447.90.

Trane Technologies (NYSE:TT - Get Free Report) last announced its earnings results on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.53 by $0.10. The firm had revenue of $4.97 billion during the quarter, compared to analysts' expectations of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The business's revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.45 EPS. Analysts anticipate that Trane Technologies plc will post 14.89 EPS for the current year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be given a dividend of $1.05 per share. The ex-dividend date is Friday, September 4th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. Trane Technologies's dividend payout ratio (DPR) is 32.48%.

Wall Street Analyst Weigh In

Several research analysts recently commented on TT shares. Citigroup boosted their target price on Trane Technologies from $525.00 to $570.00 and gave the stock a "buy" rating in a research note on Friday, May 1st. JPMorgan Chase & Co. increased their price target on Trane Technologies from $460.00 to $476.00 and gave the company a "neutral" rating in a research report on Thursday, May 14th. Weiss Ratings reiterated a "buy (b)" rating on shares of Trane Technologies in a research note on Friday. KeyCorp boosted their price objective on Trane Technologies from $525.00 to $555.00 and gave the stock an "overweight" rating in a research report on Friday, May 1st. Finally, Royal Bank Of Canada upped their target price on shares of Trane Technologies from $440.00 to $501.00 and gave the stock a "sector perform" rating in a research note on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Trane Technologies has a consensus rating of "Moderate Buy" and an average target price of $516.67.

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.

Want to see what other hedge funds are holding TT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Trane Technologies plc (NYSE:TT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.