Legal & General Group Plc Acquires 44,243 Shares of Trane Technologies plc $TT

Legal & General Group Plc boosted its holdings in Trane Technologies plc (NYSE:TT) by 2.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,880,221 shares of the company’s stock after purchasing an additional 44,243 shares during the quarter. Legal & General Group Plc’s holdings in Trane Technologies were worth $793,378,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Financial Consulate Inc. bought a new stake in shares of Trane Technologies during the third quarter valued at approximately $25,000. Icon Advisers Inc. Co. bought a new position in shares of Trane Technologies during the second quarter worth $26,000. United Community Bank grew its stake in Trane Technologies by 134.4% during the third quarter. United Community Bank now owns 75 shares of the company’s stock valued at $32,000 after acquiring an additional 43 shares in the last quarter. Halbert Hargrove Global Advisors LLC grew its stake in Trane Technologies by 34.2% during the third quarter. Halbert Hargrove Global Advisors LLC now owns 102 shares of the company’s stock valued at $43,000 after acquiring an additional 26 shares in the last quarter. Finally, Hantz Financial Services Inc. increased its holdings in Trane Technologies by 58.2% in the 3rd quarter. Hantz Financial Services Inc. now owns 106 shares of the company’s stock valued at $45,000 after acquiring an additional 39 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Trane Technologies news, CEO David S. Regnery sold 36,045 shares of the firm’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $422.69, for a total value of $15,235,861.05. Following the completion of the sale, the chief executive officer owned 96,948 shares of the company’s stock, valued at $40,978,950.12. This trade represents a 27.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Donald E. Simmons sold 3,762 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $422.70, for a total value of $1,590,197.40. Following the transaction, the insider owned 3,819 shares of the company’s stock, valued at $1,614,291.30. This trade represents a 49.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 49,378 shares of company stock valued at $21,228,464. Company insiders own 0.14% of the company’s stock.

Trane Technologies Stock Up 1.1%

Shares of TT opened at $427.89 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. The business has a fifty day moving average of $423.43 and a 200 day moving average of $417.02. The company has a market cap of $94.70 billion, a PE ratio of 32.97, a P/E/G ratio of 2.23 and a beta of 1.19. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $479.37.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.81 by $0.05. The business had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $5.09 billion. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The business’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.61 earnings per share. On average, sell-side analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 6th will be issued a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, March 6th. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.94. Trane Technologies’s payout ratio is currently 32.36%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Barclays boosted their price target 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. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Trane Technologies in a report on Wednesday, January 21st. Wells Fargo & Company boosted their target price on Trane Technologies from $375.00 to $400.00 and gave the stock an “underweight” rating in a research report on Friday, January 30th. Melius Research raised Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price target for the company in a research note on Wednesday, January 7th. Finally, Bank of America raised Trane Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $490.00 to $550.00 in a research note on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $484.67.

Trane Technologies Profile

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.