Everence Capital Management Inc. Raises Stock Position in Trane Technologies plc (NYSE:TT)

Everence Capital Management Inc. grew its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 17.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,980 shares of the company's stock after acquiring an additional 3,050 shares during the period. Everence Capital Management Inc.'s holdings in Trane Technologies were worth $5,117,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Norges Bank purchased a new position in Trane Technologies in the 4th quarter valued at approximately $526,026,000. Moneta Group Investment Advisors LLC increased its position in shares of Trane Technologies by 109,668.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,963,758 shares of the company's stock valued at $330,088,000 after buying an additional 1,961,969 shares during the period. First Trust Advisors LP increased its stake in shares of Trane Technologies by 2,606.5% during the first quarter. First Trust Advisors LP now owns 1,081,171 shares of the company's stock valued at $165,095,000 after purchasing an additional 1,041,224 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of Trane Technologies by 24,670.7% in the 4th quarter. International Assets Investment Management LLC now owns 1,034,423 shares of the company's stock worth $252,296,000 after purchasing an additional 1,030,247 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Trane Technologies by 5.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,085,662 shares of the company's stock valued at $3,466,852,000 after purchasing an additional 880,583 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Price Performance

TT traded up $1.83 during trading on Tuesday, reaching $295.71. 752,198 shares of the stock were exchanged, compared to its average volume of 1,003,653. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.13 and a quick ratio of 0.78. Trane Technologies plc has a 1 year low of $162.04 and a 1 year high of $306.98. The business's 50 day moving average price is $288.63 and its two-hundred day moving average price is $249.71. The company has a market capitalization of $67.15 billion, a price-to-earnings ratio of 33.64, a P/E/G ratio of 2.51 and a beta of 1.05.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings data on Thursday, February 1st. The company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.04. Trane Technologies had a return on equity of 32.01% and a net margin of 11.45%. The business had revenue of $4.42 billion for the quarter, compared to the consensus estimate of $4.43 billion. During the same period in the prior year, the business earned $1.82 earnings per share. The business's revenue was up 8.6% on a year-over-year basis. As a group, equities research analysts anticipate that Trane Technologies plc will post 10.2 earnings per share for the current year.

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a dividend of $0.84 per share. The ex-dividend date is Thursday, June 6th. This represents a $3.36 annualized dividend and a yield of 1.14%. Trane Technologies's dividend payout ratio is presently 38.23%.

Insider Activity

In related news, CFO Christopher J. Kuehn sold 3,762 shares of the firm's stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $286.48, for a total value of $1,077,737.76. Following the sale, the chief financial officer now owns 61,691 shares of the company's stock, valued at approximately $17,673,237.68. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Christopher J. Kuehn sold 3,762 shares of the business's stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $286.48, for a total value of $1,077,737.76. Following the sale, the chief financial officer now owns 61,691 shares of the company's stock, valued at approximately $17,673,237.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Paul A. Camuti sold 508 shares of the business's stock in a transaction on Friday, February 9th. The stock was sold at an average price of $273.34, for a total value of $138,856.72. Following the completion of the sale, the executive vice president now directly owns 89,447 shares in the company, valued at approximately $24,449,442.98. 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. 0.39% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TT. Citigroup lifted their price target on shares of Trane Technologies from $309.00 to $355.00 and gave the company a "buy" rating in a report on Monday, April 8th. Royal Bank of Canada upped 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. Wells Fargo & Company upped 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. Barclays boosted their target price on shares of Trane Technologies from $286.00 to $325.00 and gave the stock an "overweight" rating in a report on Tuesday, April 2nd. Finally, The Goldman Sachs Group boosted their target price on shares of Trane Technologies from $253.00 to $287.00 and gave the stock a "neutral" rating in a report on Monday, February 5th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $251.83.

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.