Elo Mutual Pension Insurance Co Raises Holdings in Trane Technologies plc $TT

Elo Mutual Pension Insurance Co boosted its stake in shares of Trane Technologies plc (NYSE:TT) by 32.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,612 shares of the company’s stock after buying an additional 8,077 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Trane Technologies were worth $13,761,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC boosted its position in Trane Technologies by 60.0% during the fourth quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock valued at $2,288,000 after purchasing an additional 2,323 shares in the last quarter. Sivia Capital Partners LLC raised its holdings in Trane Technologies by 22.4% in the second quarter. Sivia Capital Partners LLC now owns 1,665 shares of the company’s stock worth $728,000 after purchasing an additional 305 shares in the last quarter. Schnieders Capital Management LLC. purchased a new stake in shares of Trane Technologies during the second quarter valued at about $227,000. Hantz Financial Services Inc. boosted its holdings in shares of Trane Technologies by 1,016.7% in the 2nd quarter. Hantz Financial Services Inc. now owns 67 shares of the company’s stock valued at $29,000 after buying an additional 61 shares in the last quarter. Finally, Assetmark Inc. grew its position in shares of Trane Technologies by 14.8% in the 2nd quarter. Assetmark Inc. now owns 21,464 shares of the company’s stock worth $9,388,000 after buying an additional 2,775 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Morgan Stanley decreased their target price on shares of Trane Technologies from $550.00 to $535.00 and set an “overweight” rating for the company in a research report on Tuesday, January 13th. Wells Fargo & Company upped their price target on Trane Technologies from $375.00 to $400.00 and gave the stock an “underweight” rating in a research report on Friday, January 30th. JPMorgan Chase & Co. raised their price objective on Trane Technologies from $434.00 to $460.00 and gave the stock a “neutral” rating in a research report on Friday, January 30th. UBS Group dropped their target price on Trane Technologies from $544.00 to $520.00 and set a “buy” rating on the stock in a research note on Monday, January 5th. Finally, Oppenheimer increased 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 equities research 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 given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $484.67.

Insider Buying and Selling

In related news, CFO Christopher J. Kuehn sold 2,389 shares of Trane Technologies stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $462.70, for a total transaction of $1,105,390.30. Following the completion of the transaction, the chief financial officer directly owned 60,486 shares in the company, valued at approximately $27,986,872.20. This trade represents a 3.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Elizabeth A. Elwell sold 137 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $462.48, for a total value of $63,359.76. Following the completion of the sale, the chief accounting officer owned 7,100 shares in the company, valued at approximately $3,283,608. This represents a 1.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 8,936 shares of company stock valued at $4,133,991 in the last three months. 0.14% of the stock is currently owned by insiders.

Trane Technologies Trading Up 1.0%

Shares of NYSE:TT opened at $461.71 on Monday. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $479.37. The stock has a market cap of $102.19 billion, a price-to-earnings ratio of 35.57, a PEG ratio of 2.43 and a beta of 1.19. The business has a 50-day moving average price of $417.67 and a 200-day moving average price of $416.42.

Trane Technologies (NYSE:TT) last issued 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 company had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $5.09 billion. During the same quarter in the prior year, the company earned $2.61 EPS. Trane Technologies’s quarterly revenue was up 5.6% on a year-over-year basis. Equities analysts predict that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be paid a $1.05 dividend. The ex-dividend date is Friday, March 6th. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.94. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. Trane Technologies’s dividend payout ratio (DPR) is currently 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.