The Manufacturers Life Insurance Company Has $104.87 Million Holdings in Trane Technologies plc $TT

The Manufacturers Life Insurance Company increased its position in shares of Trane Technologies plc (NYSE:TT) by 3.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 251,663 shares of the company’s stock after buying an additional 9,466 shares during the period. The Manufacturers Life Insurance Company owned 0.11% of Trane Technologies worth $104,874,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the company. Farther Finance Advisors LLC boosted its position in shares of Trane Technologies by 64.0% during the 4th quarter. Farther Finance Advisors LLC now owns 7,478 shares of the company’s stock worth $2,911,000 after purchasing an additional 2,917 shares in the last quarter. Dara Capital US Inc. bought a new stake in Trane Technologies in the 4th quarter valued at about $966,000. ProCore Advisors LLC bought a new stake in Trane Technologies in the 4th quarter valued at about $939,000. Horizon Investments LLC raised its stake in Trane Technologies by 115.4% during the 4th quarter. Horizon Investments LLC now owns 30,560 shares of the company’s stock worth $11,894,000 after buying an additional 16,370 shares during the period. Finally, Buffalo Business & Estate Services Ltd. bought a new position in Trane Technologies in the fourth quarter worth approximately $4,325,000. Institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Evercore started coverage on Trane Technologies in a research note on Monday, April 13th. They issued an “outperform” rating and a $535.00 price objective for the company. BNP Paribas Exane began coverage on Trane Technologies in a research report on Tuesday, April 14th. They set an “outperform” rating and a $550.00 target price on the stock. Citigroup increased their target price on Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a report on Friday, May 1st. JPMorgan Chase & Co. lifted their price target on shares of Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Finally, Barclays upped their price objective on shares of Trane Technologies from $507.00 to $585.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $516.67.

Trane Technologies Stock Performance

Shares of TT opened at $470.66 on Wednesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10. The stock has a 50 day moving average price of $471.04 and a two-hundred day moving average price of $451.67. The firm has a market capitalization of $104.04 billion, a P/E ratio of 36.40, a P/E/G ratio of 2.22 and a beta of 1.19. Trane Technologies plc has a 52 week low of $348.06 and a 52 week high of $505.87.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Friday, May 1st. The company reported $2.63 EPS for the quarter, topping the consensus estimate of $2.53 by $0.10. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The firm had revenue of $4.97 billion during the quarter, compared to the consensus estimate of $4.81 billion. During the same period in the prior year, the business posted $2.45 earnings per share. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. Equities analysts forecast that Trane Technologies plc will post 14.89 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be given a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, September 4th. Trane Technologies’s dividend payout ratio is presently 32.48%.

Insider Buying and Selling

In other Trane Technologies news, insider Donald E. Simmons sold 4,593 shares of the firm’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the transaction, the insider directly owned 3,819 shares in the company, valued at approximately $1,909,500. This trade represents a 54.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.43% of the company’s stock.

Trane Technologies Company 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.