Highland Capital Management LLC Takes Position in Trane Technologies plc (NYSE:TT)

Highland Capital Management LLC bought a new position in shares of Trane Technologies plc (NYSE:TT) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 3,399 shares of the company’s stock, valued at approximately $1,321,000.

Other large investors have also added to or reduced their stakes in the company. Empowered Funds LLC raised its position in shares of Trane Technologies by 138.0% in the first quarter. Empowered Funds LLC now owns 6,667 shares of the company’s stock valued at $2,001,000 after purchasing an additional 3,866 shares during the period. Nordea Investment Management AB lifted its position in Trane Technologies by 3.0% during the first quarter. Nordea Investment Management AB now owns 453,212 shares of the company’s stock worth $135,796,000 after acquiring an additional 13,078 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of Trane Technologies by 379.2% during the first quarter. Sei Investments Co. now owns 306,165 shares of the company’s stock worth $91,909,000 after acquiring an additional 242,271 shares during the period. Albar Capital Ltd acquired a new position in shares of Trane Technologies in the second quarter valued at approximately $14,556,000. Finally, M&G Plc bought a new position in shares of Trane Technologies during the first quarter worth approximately $8,939,000. Institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on TT. Wells Fargo & Company upped their price objective on Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Robert W. Baird raised their price target on shares of Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. The Goldman Sachs Group boosted their price objective on shares of Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Barclays raised their target price on shares of Trane Technologies from $394.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Finally, Royal Bank of Canada boosted their price target on Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $373.58.

Trane Technologies Stock Performance

Trane Technologies stock opened at $392.57 on Friday. The stock has a market cap of $88.59 billion, a PE ratio of 38.83, a P/E/G ratio of 2.70 and a beta of 1.01. The company has a quick ratio of 0.84, a current ratio of 1.17 and a debt-to-equity ratio of 0.62. Trane Technologies plc has a 12-month low of $184.24 and a 12-month high of $406.96. The business’s 50-day moving average price is $374.71 and its two-hundred day moving average price is $342.75.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.08 by $0.22. The business had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.13 billion. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.68 EPS. As a group, analysts expect that Trane Technologies plc will post 10.89 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be given a dividend of $0.84 per share. The ex-dividend date is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a yield of 0.86%. Trane Technologies’s dividend payout ratio is currently 33.23%.

Insider Buying and Selling at Trane Technologies

In other news, EVP Raymond D. Pittard sold 1,805 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total transaction of $593,213.25. Following the sale, the executive vice president now directly owns 83,517 shares in the company, valued at approximately $27,447,862.05. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO David S. Regnery sold 29,450 shares of Trane Technologies stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total value of $9,460,812.50. Following the transaction, the chief executive officer now directly owns 132,946 shares of the company’s stock, valued at $42,708,902.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Raymond D. Pittard sold 1,805 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total transaction of $593,213.25. Following the completion of the transaction, the executive vice president now owns 83,517 shares in the company, valued at $27,447,862.05. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.

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.