Van Hulzen Asset Management LLC Takes $7.67 Million Position in Trane Technologies plc $TT

Key Points

• Van Hulzen Asset Management opened a new position in Trane Technologies, buying 19,706 shares valued at about $7.67 million in the fourth quarter.
• Institutional ownership remains very high, with hedge funds and other investors holding 82.97% of the company’s stock. Several large firms, including Vanguard and JPMorgan Chase, also increased their stakes recently.
• Trane Technologies reported better-than-expected quarterly results, with EPS of $2.63 versus $2.53 expected and revenue up 6% year over year. The company also lifted guidance and declared a $1.05 quarterly dividend, while analysts currently rate the stock a Moderate Buy.

Van Hulzen Asset Management LLC acquired a new stake in Trane Technologies plc (NYSE:TT - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 19,706 shares of the company's stock, valued at approximately $7,670,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Trane Technologies by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 20,020,321 shares of the company's stock valued at $7,791,909,000 after buying an additional 192,270 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Trane Technologies by 10.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company's stock valued at $6,550,975,000 after buying an additional 1,433,563 shares during the period. Nordea Investment Management AB boosted its stake in shares of Trane Technologies by 2.9% in the 4th quarter. Nordea Investment Management AB now owns 2,586,506 shares of the company's stock valued at $1,010,419,000 after buying an additional 72,998 shares during the period. Bank of America Corp DE boosted its stake 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 valued at $1,022,278,000 after buying an additional 203,766 shares during the period. Finally, Legal & General Group Plc lifted its stake in 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 last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on TT. BNP Paribas Exane began coverage on Trane Technologies in a research note on Tuesday, April 14th. They set an "outperform" rating and a $550.00 target price for the company. Royal Bank Of Canada boosted their target price on Trane Technologies from $440.00 to $501.00 and gave the stock a "sector perform" rating in a research note on Friday, May 1st. Weiss Ratings restated a "buy (b)" rating on shares of Trane Technologies in a research note on Monday, April 20th. 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. Finally, Oppenheimer boosted their target price on Trane Technologies from $460.00 to $468.00 and gave the stock an "outperform" rating in a research note on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $506.56.

Trane Technologies Price Performance

Shares of NYSE TT opened at $446.83 on Friday. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. Trane Technologies plc has a twelve month low of $348.06 and a twelve month high of $503.47. The stock has a 50 day moving average of $451.88 and a two-hundred day moving average of $429.26. The stock has a market cap of $98.77 billion, a P/E ratio of 34.56, a P/E/G ratio of 2.08 and a beta of 1.25.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The company reported $2.63 earnings per share for the quarter, beating analysts' consensus estimates of $2.53 by $0.10. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The company had revenue of $4.97 billion during the quarter, compared to analysts' expectations of $4.81 billion. During the same quarter in the previous year, the business earned $2.45 earnings per share. The firm's revenue for the quarter was up 6.0% on a year-over-year basis. Trane Technologies has set its FY 2026 guidance at 14.750-14.950 EPS. On average, research analysts forecast that Trane Technologies plc will post 14.9 earnings per share for the current year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th will be paid a $1.05 dividend. The ex-dividend date is Friday, June 5th. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. Trane Technologies's payout ratio is currently 32.48%.

Insider Transactions at Trane Technologies

In other Trane Technologies news, CFO Christopher J. Kuehn sold 8,619 shares of the business's stock in a transaction that occurred on 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 in the company, valued at approximately $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 can be accessed through 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 business's stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 3,819 shares in the company, valued at approximately $1,909,500. The trade was a 54.60% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 in the last three months. Corporate insiders own 0.14% of the company's stock.

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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