Korea Investment CORP Raises Stock Holdings in Trane Technologies plc $TT

Korea Investment CORP grew its position in shares of Trane Technologies plc (NYSE:TT) by 17.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 204,695 shares of the company’s stock after acquiring an additional 30,558 shares during the quarter. Korea Investment CORP owned about 0.09% of Trane Technologies worth $86,373,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Y Intercept Hong Kong Ltd purchased a new position in shares of Trane Technologies in the 3rd quarter worth approximately $6,571,000. Nordea Investment Management AB raised its holdings in Trane Technologies by 2.4% during the 3rd quarter. Nordea Investment Management AB now owns 2,513,508 shares of the company’s stock valued at $1,051,049,000 after buying an additional 57,774 shares during the period. Boston Common Asset Management LLC bought a new stake in Trane Technologies in the third quarter worth $9,546,000. Compass Wealth Management LLC boosted its stake in Trane Technologies by 3,785.4% during the third quarter. Compass Wealth Management LLC now owns 27,198 shares of the company’s stock worth $11,476,000 after buying an additional 26,498 shares during the period. Finally, Aptus Capital Advisors LLC increased its position in Trane Technologies by 169.8% during the third quarter. Aptus Capital Advisors LLC now owns 14,738 shares of the company’s stock valued at $6,219,000 after acquiring an additional 9,276 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

TT has been the subject of several analyst reports. Royal Bank Of Canada raised their target price on shares of Trane Technologies from $469.00 to $470.00 and gave the stock a “sector perform” rating in a report on Friday, January 30th. Morgan Stanley cut their price target on shares of Trane Technologies from $550.00 to $535.00 and set an “overweight” rating on the stock in a report on Tuesday, January 13th. Barclays raised their price objective on shares of Trane Technologies from $505.00 to $507.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. Bank of America raised Trane Technologies from a “neutral” rating to a “buy” rating and upped their target price for the company from $490.00 to $550.00 in a research note on Thursday, November 13th. Finally, JPMorgan Chase & Co. increased their price target on Trane Technologies from $434.00 to $460.00 and gave the stock a “neutral” rating in a report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $484.67.

Trane Technologies Stock Performance

Trane Technologies stock opened at $423.04 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.25. The company has a market capitalization of $93.63 billion, a PE ratio of 32.59, a P/E/G ratio of 2.23 and a beta of 1.19. The company has a 50 day moving average price of $422.75 and a 200-day moving average price of $417.05. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $479.37.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.05. The company had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $5.09 billion. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.Trane Technologies’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.61 earnings per share. As a group, equities analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be given a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, March 6th. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.94. Trane Technologies’s dividend payout ratio is currently 28.97%.

Insider Transactions at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 5,588 shares of the stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $462.60, for a total transaction of $2,585,008.80. Following the transaction, the chief executive officer directly owned 96,948 shares in the company, valued at $44,848,144.80. This represents a 5.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Christopher J. Kuehn sold 2,389 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $462.70, for a total transaction of $1,105,390.30. Following the transaction, the chief financial officer directly owned 60,486 shares in the company, valued at $27,986,872.20. This trade represents a 3.80% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 8,936 shares of company stock worth $4,133,991. Corporate insiders own 0.14% of the company’s stock.

About Trane Technologies

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.