Man Group plc Buys 82,186 Shares of Trane Technologies plc (NYSE:TT)

Man Group plc grew its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 15.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 614,934 shares of the company's stock after purchasing an additional 82,186 shares during the quarter. Trane Technologies makes up about 0.6% of Man Group plc's holdings, making the stock its 14th biggest position. Man Group plc owned 0.27% of Trane Technologies worth $227,126,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of TT. Minot DeBlois Advisors LLC purchased a new position in shares of Trane Technologies during the fourth quarter worth approximately $26,000. Sound Income Strategies LLC boosted its stake in Trane Technologies by 1,314.3% during the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company's stock worth $37,000 after purchasing an additional 92 shares during the period. Flagship Wealth Advisors LLC purchased a new position in Trane Technologies during the 4th quarter worth $37,000. Golden State Wealth Management LLC acquired a new position in Trane Technologies in the fourth quarter valued at $39,000. Finally, BankPlus Trust Department purchased a new stake in shares of Trane Technologies in the fourth quarter valued at about $45,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Insider Activity

In other news, insider Donald E. Simmons sold 3,571 shares of the firm's 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 now directly owns 3,593 shares in the company, valued at $1,365,340. This trade represents a 49.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.38% of the stock is currently owned by corporate insiders.

Trane Technologies Stock Up 1.6%

TT stock traded up $6.85 during mid-day trading on Friday, hitting $429.20. 1,110,362 shares of the company were exchanged, compared to its average volume of 1,346,253. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $429.40. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. The firm's 50 day simple moving average is $358.06 and its 200 day simple moving average is $373.44. The firm has a market cap of $95.72 billion, a P/E ratio of 38.15, a P/E/G ratio of 2.50 and a beta of 1.14.

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 the consensus estimate of $2.20 by $0.25. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The firm had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same quarter in the previous year, the firm earned $1.94 EPS. The business's quarterly revenue was up 11.2% on a year-over-year basis. On average, sell-side analysts predict that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 0.88%. The ex-dividend date is Friday, June 6th. Trane Technologies's payout ratio is presently 31.28%.

Analysts Set New Price Targets

Several research firms have recently commented on TT. Hsbc Global Res upgraded shares of Trane Technologies from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. 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 research report on Friday. Melius Research reaffirmed a "hold" rating and set a $398.00 price objective on shares of Trane Technologies in a research note on Tuesday, January 28th. Melius downgraded Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 price target for the company. in a report on Tuesday, January 28th. Finally, Wells Fargo & Company upped their price target on shares of Trane Technologies from $330.00 to $370.00 and gave the stock an "underweight" rating in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $425.47.

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.