New Age Alpha Advisors LLC Purchases 3,445 Shares of Trane Technologies plc $TT

New Age Alpha Advisors LLC raised its position in shares of Trane Technologies plc (NYSE:TT) by 99.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,923 shares of the company’s stock after buying an additional 3,445 shares during the period. New Age Alpha Advisors LLC’s holdings in Trane Technologies were worth $2,975,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of TT. Norges Bank acquired a new stake in Trane Technologies during the 2nd quarter valued at $1,356,065,000. JPMorgan Chase & Co. grew its holdings in shares of Trane Technologies by 10.2% during the third quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company’s stock worth $6,550,975,000 after purchasing an additional 1,433,563 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of Trane Technologies by 229.3% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,752,551 shares of the company’s stock valued at $766,583,000 after buying an additional 1,220,388 shares in the last quarter. ABN AMRO Bank N.V. bought a new position in shares of Trane Technologies in the second quarter valued at about $291,206,000. Finally, Corient Private Wealth LLC lifted its position in Trane Technologies by 135.4% during the 2nd quarter. Corient Private Wealth LLC now owns 735,589 shares of the company’s stock worth $321,757,000 after buying an additional 423,090 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Elizabeth A. Elwell sold 137 shares of Trane Technologies stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $462.48, for a total transaction of $63,359.76. Following the transaction, the chief accounting officer directly owned 7,100 shares of the company’s stock, valued at $3,283,608. This trade represents a 1.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Donald E. Simmons sold 822 shares of the company’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $462.57, for a total transaction of $380,232.54. Following the completion of the sale, the insider owned 3,819 shares of the company’s stock, valued at approximately $1,766,554.83. This represents a 17.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 8,936 shares of company stock worth $4,133,991 over the last quarter. 0.14% of the stock is owned by insiders.

Wall Street Analyst Weigh In

TT has been the subject of several research reports. Citigroup raised their price objective on shares of Trane Technologies from $513.00 to $525.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Barclays raised their price target on shares of Trane Technologies from $505.00 to $507.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Wells Fargo & Company upped their price objective on Trane Technologies from $375.00 to $400.00 and gave the stock an “underweight” rating in a report on Friday, January 30th. UBS Group lowered their target price on Trane Technologies from $544.00 to $520.00 and set a “buy” rating for the company in a research note on Monday, January 5th. Finally, Oppenheimer upped their price target on Trane Technologies from $460.00 to $468.00 and gave the company an “outperform” rating in a research note 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 given a Sell rating to the company’s stock. According to MarketBeat.com, Trane Technologies has an average rating of “Moderate Buy” and a consensus target price of $484.67.

Trane Technologies Stock Performance

TT stock opened at $466.21 on Tuesday. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $479.37. 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 company has a market cap of $103.19 billion, a P/E ratio of 35.92, a price-to-earnings-growth ratio of 2.43 and a beta of 1.19. The business’s fifty day moving average is $419.20 and its 200-day moving average is $416.68.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Thursday, January 29th. The company reported $2.86 EPS for the quarter, beating analysts’ consensus estimates of $2.81 by $0.05. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The business had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $5.09 billion. During the same quarter in the prior year, the company posted $2.61 earnings per share. The firm’s revenue was up 5.6% on a year-over-year basis. Equities research analysts forecast 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 given a $1.05 dividend. The ex-dividend date is Friday, March 6th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.94. Trane Technologies’s dividend payout ratio is 28.97%.

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.