DekaBank Deutsche Girozentrale Acquires 41,783 Shares of Trane Technologies plc (NYSE:TT)

DekaBank Deutsche Girozentrale lifted its stake in Trane Technologies plc (NYSE:TT) by 11.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 419,951 shares of the company’s stock after acquiring an additional 41,783 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Trane Technologies were worth $160,449,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Trane Technologies by 0.9% during the first quarter. Vanguard Group Inc. now owns 18,887,514 shares of the company’s stock valued at $5,670,032,000 after buying an additional 174,251 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Trane Technologies by 0.5% in the 1st quarter. JPMorgan Chase & Co. now owns 17,393,733 shares of the company’s stock worth $5,221,599,000 after acquiring an additional 80,536 shares during the period. International Assets Investment Management LLC grew its holdings in shares of Trane Technologies by 35,914.4% during the 3rd quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company’s stock worth $639,514,000 after purchasing an additional 1,640,569 shares in the last quarter. Mackenzie Financial Corp increased its position in shares of Trane Technologies by 0.3% during the second quarter. Mackenzie Financial Corp now owns 1,085,468 shares of the company’s stock valued at $357,043,000 after purchasing an additional 2,898 shares during the period. Finally, Raymond James & Associates raised its stake in shares of Trane Technologies by 3.1% in the third quarter. Raymond James & Associates now owns 1,076,484 shares of the company’s stock valued at $418,462,000 after purchasing an additional 32,079 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on TT shares. Mizuho lifted their price target on shares of Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Morgan Stanley started coverage on shares of Trane Technologies in a research note on Friday, September 6th. They issued an “overweight” rating and a $425.00 target price on the stock. The Goldman Sachs Group lifted their price objective on Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Robert W. Baird increased their target price on Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Finally, Wells Fargo & Company boosted their price target on Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Trane Technologies has an average rating of “Hold” and a consensus price target of $373.58.

Trane Technologies Price Performance

Shares of NYSE TT opened at $392.57 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.17 and a debt-to-equity ratio of 0.62. The company has a market cap of $88.59 billion, a price-to-earnings ratio of 38.83, a price-to-earnings-growth ratio of 2.70 and a beta of 1.01. Trane Technologies plc has a 12-month low of $184.24 and a 12-month high of $406.96. The firm’s 50-day simple moving average is $374.71 and its 200 day simple moving average is $342.75.

Trane Technologies (NYSE:TT) last announced its earnings results 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. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The company had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.13 billion. During the same period in the prior year, the business earned $2.68 earnings per share. Trane Technologies’s quarterly revenue was up 12.8% on a year-over-year basis. On average, research analysts expect that Trane Technologies plc will post 10.89 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

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

Insider Activity at Trane Technologies

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

Trane Technologies 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.