Trane Technologies plc (NYSE:TT) Shares Bought by Alphinity Investment Management Pty Ltd

Alphinity Investment Management Pty Ltd increased its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 11.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,018,431 shares of the company's stock after buying an additional 205,882 shares during the period. Trane Technologies accounts for 5.0% of Alphinity Investment Management Pty Ltd's holdings, making the stock its 6th biggest position. Alphinity Investment Management Pty Ltd owned about 0.89% of Trane Technologies worth $492,295,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. BKM Wealth Management LLC purchased a new stake in Trane Technologies during the fourth quarter worth $25,000. Live Oak Investment Partners purchased a new stake in Trane Technologies during the fourth quarter worth $30,000. Venturi Wealth Management LLC boosted its holdings in Trane Technologies by 139.7% during the third quarter. Venturi Wealth Management LLC now owns 151 shares of the company's stock worth $31,000 after buying an additional 88 shares in the last quarter. 1832 Asset Management L.P. purchased a new stake in Trane Technologies during the first quarter worth $34,000. Finally, Avior Wealth Management LLC boosted its holdings in Trane Technologies by 58.0% during the third quarter. Avior Wealth Management LLC now owns 177 shares of the company's stock worth $36,000 after buying an additional 65 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO David S. Regnery sold 6,990 shares of the firm'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 sale, the chief executive officer now directly owns 113,874 shares in the company, valued at $32,589,600.06. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Trane Technologies news, SVP Keith A. Sultana sold 1,637 shares of Trane Technologies stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $267.74, for a total transaction of $438,290.38. Following the completion of the sale, the senior vice president now directly owns 42,374 shares in the company, valued at $11,345,214.76. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David S. Regnery sold 6,990 shares of Trane Technologies 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 sale, the chief executive officer now owns 113,874 shares of the company's stock, valued at $32,589,600.06. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,874 shares of company stock worth $8,462,825. Insiders own 0.39% of the company's stock.

Analyst Ratings Changes

TT has been the topic of several recent analyst reports. Royal Bank of Canada increased their price objective on shares of Trane Technologies from $231.00 to $246.00 and gave the company a "sector perform" rating in a report on Friday, February 2nd. Stephens increased their price objective on shares of Trane Technologies from $235.00 to $280.00 and gave the company an "equal weight" rating in a report on Tuesday, February 6th. Citigroup increased their price objective on shares of Trane Technologies from $246.00 to $269.00 and gave the company a "buy" rating in a report on Monday, December 11th. The Goldman Sachs Group increased their price objective on shares of Trane Technologies from $253.00 to $287.00 and gave the company a "neutral" rating in a report on Monday, February 5th. Finally, Barclays increased their price objective on shares of Trane Technologies from $286.00 to $325.00 and gave the company an "overweight" rating in a report on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $239.92.

Trane Technologies Price Performance

Shares of NYSE TT traded up $7.16 during mid-day trading on Friday, reaching $304.67. The company's stock had a trading volume of 811,436 shares, compared to its average volume of 818,697. The stock has a 50-day moving average of $283.96 and a two-hundred day moving average of $244.90. The stock has a market capitalization of $69.18 billion, a P/E ratio of 34.66, a P/E/G ratio of 2.57 and a beta of 1.05. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.78 and a current ratio of 1.13. Trane Technologies plc has a 1-year low of $162.04 and a 1-year high of $306.13.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings data on Thursday, February 1st. The company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.13 by $0.04. Trane Technologies had a net margin of 11.45% and a return on equity of 32.01%. The firm had revenue of $4.42 billion during the quarter, compared to analysts' expectations of $4.43 billion. During the same period last year, the business earned $1.82 earnings per share. Trane Technologies's revenue was up 8.6% compared to the same quarter last year. On average, equities research analysts anticipate that Trane Technologies plc will post 10.19 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 1.10%. The ex-dividend date is Thursday, June 6th. Trane Technologies's payout ratio is currently 38.23%.

Trane Technologies 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.