SG Americas Securities LLC Purchases 420,381 Shares of Trane Technologies plc $TT

SG Americas Securities LLC raised its holdings in shares of Trane Technologies plc (NYSE:TT) by 13,460.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 423,504 shares of the company’s stock after buying an additional 420,381 shares during the period. SG Americas Securities LLC owned about 0.19% of Trane Technologies worth $164,828,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. JPMorgan Chase & Co. lifted its stake in shares of Trane Technologies by 10.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company’s stock worth $6,550,975,000 after acquiring an additional 1,433,563 shares during the last quarter. State Street Corp grew its position in Trane Technologies by 0.3% in the 2nd quarter. State Street Corp now owns 10,077,267 shares of the company’s stock valued at $4,407,904,000 after acquiring an additional 31,826 shares during the last quarter. Norges Bank purchased a new stake in Trane Technologies in the second quarter worth $1,356,065,000. Nordea Investment Management AB increased its stake in Trane Technologies by 2.9% in the fourth quarter. Nordea Investment Management AB now owns 2,586,506 shares of the company’s stock worth $1,010,419,000 after purchasing an additional 72,998 shares during the period. Finally, Bank of America Corp DE lifted its position in shares of Trane Technologies by 9.2% during the third quarter. Bank of America Corp DE now owns 2,422,690 shares of the company’s stock worth $1,022,278,000 after purchasing an additional 203,766 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TT has been the topic of a number of research analyst reports. Wells Fargo & Company upped their price target on shares of Trane Technologies from $375.00 to $400.00 and gave the stock an “underweight” rating in a report on Friday, January 30th. Citigroup boosted 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. KeyCorp upgraded shares of Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 target price on the stock in a research note on Monday, December 15th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Trane Technologies in a research note on Wednesday, January 21st. Finally, Royal Bank Of Canada raised their price objective on Trane Technologies from $469.00 to $470.00 and gave the stock a “sector perform” rating in a report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $484.67.

Trane Technologies Trading Up 3.7%

NYSE TT opened at $425.49 on Tuesday. 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 $94.18 billion, a price-to-earnings ratio of 32.78, a price-to-earnings-growth ratio of 2.16 and a beta of 1.19. The company’s 50-day simple moving average is $431.05 and its two-hundred day simple moving average is $417.45. Trane Technologies plc has a one year low of $298.15 and a one year high of $479.37.

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

Trane Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be issued a dividend of $1.05 per share. This is an increase from Trane Technologies’s previous quarterly dividend of $0.94. This represents a $4.20 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Friday, March 6th. Trane Technologies’s dividend payout ratio (DPR) is currently 32.36%.

Insider Buying and Selling

In other news, CFO Christopher J. Kuehn sold 2,389 shares of the business’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $462.70, for a total value of $1,105,390.30. Following the completion of the transaction, the chief financial officer directly owned 60,486 shares of the company’s stock, valued at approximately $27,986,872.20. The trade was a 3.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Elizabeth A. Elwell sold 635 shares of the company’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $422.70, for a total value of $268,414.50. Following the sale, the chief accounting officer owned 7,100 shares of the company’s stock, valued at $3,001,170. This trade represents a 8.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 49,378 shares of company stock worth $21,228,464 in the last three months. Corporate insiders own 0.14% 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.