Pacer Advisors Inc. Buys 4,575 Shares of Trane Technologies plc (NYSE:TT)

Pacer Advisors Inc. raised its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 30.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,440 shares of the company's stock after acquiring an additional 4,575 shares during the period. Pacer Advisors Inc.'s holdings in Trane Technologies were worth $4,741,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Wellington Management Group LLP boosted its stake in shares of Trane Technologies by 36.4% during the third quarter. Wellington Management Group LLP now owns 1,639,058 shares of the company's stock valued at $332,581,000 after purchasing an additional 436,997 shares during the period. CHICAGO TRUST Co NA boosted its stake in shares of Trane Technologies by 2.1% during the fourth quarter. CHICAGO TRUST Co NA now owns 3,136 shares of the company's stock valued at $765,000 after purchasing an additional 64 shares during the period. Graypoint LLC lifted its stake in Trane Technologies by 46.0% in the third quarter. Graypoint LLC now owns 2,043 shares of the company's stock worth $414,000 after acquiring an additional 644 shares during the period. Keybank National Association OH grew its holdings in Trane Technologies by 3.2% during the 3rd quarter. Keybank National Association OH now owns 24,352 shares of the company's stock worth $4,941,000 after acquiring an additional 756 shares in the last quarter. Finally, Stratos Wealth Partners LTD. increased its position in Trane Technologies by 2.6% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 4,586 shares of the company's stock valued at $931,000 after purchasing an additional 117 shares during the period. Institutional investors own 82.97% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on TT shares. The Goldman Sachs Group boosted their price objective on shares of Trane Technologies from $253.00 to $287.00 and gave the stock a "neutral" rating in a research note on Monday, February 5th. Wells Fargo & Company boosted their price objective on shares of Trane Technologies from $200.00 to $246.00 and gave the stock an "underweight" rating in a research note on Tuesday, December 19th. Royal Bank of Canada boosted their price objective on shares of Trane Technologies from $231.00 to $246.00 and gave the stock a "sector perform" rating in a research note on Friday, February 2nd. Stephens boosted their price objective on shares of Trane Technologies from $235.00 to $280.00 and gave the stock an "equal weight" rating in a research note on Tuesday, February 6th. Finally, Citigroup boosted their price objective on shares of Trane Technologies from $246.00 to $269.00 and gave the stock a "buy" rating in a research note on Monday, December 11th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $232.31.

Trane Technologies Stock Performance

NYSE:TT traded up $0.49 during mid-day trading on Friday, hitting $300.20. The company's stock had a trading volume of 753,994 shares, compared to its average volume of 906,336. Trane Technologies plc has a 1 year low of $162.04 and a 1 year high of $305.00. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.13 and a quick ratio of 0.78. The stock has a market cap of $68.17 billion, a price-to-earnings ratio of 34.15, a PEG ratio of 2.34 and a beta of 1.05. The business's fifty day moving average is $278.19 and its two-hundred day moving average is $240.39.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings results on Thursday, February 1st. The company reported $2.17 EPS for the quarter, beating the consensus estimate of $2.13 by $0.04. The company had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.43 billion. Trane Technologies had a net margin of 11.45% and a return on equity of 32.01%. The firm's revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.82 earnings per share. Analysts anticipate that Trane Technologies plc will post 10.18 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 1st will be given a $0.84 dividend. The ex-dividend date of this dividend is Thursday, February 29th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.12%. This is an increase from Trane Technologies's previous quarterly dividend of $0.75. Trane Technologies's dividend payout ratio is 38.23%.

Insiders Place Their Bets

In related news, CEO David S. Regnery sold 6,990 shares of the company's stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $286.19, for a total transaction of $2,000,468.10. Following the completion of the transaction, the chief executive officer now owns 113,874 shares in the company, valued at approximately $32,589,600.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO David S. Regnery sold 6,990 shares of the company's stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $286.19, for a total transaction of $2,000,468.10. Following the completion of the transaction, the chief executive officer now owns 113,874 shares in the company, valued at approximately $32,589,600.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Paul A. Camuti sold 5,643 shares of the company's stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $288.30, for a total transaction of $1,626,876.90. Following the transaction, the executive vice president now owns 88,770 shares of the company's stock, valued at approximately $25,592,391. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,874 shares of company stock worth $8,462,825. Company insiders own 0.39% of the company's stock.

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.