Korea Investment CORP Buys 30,558 Shares of Trane Technologies plc $TT

Korea Investment CORP grew its stake in Trane Technologies plc (NYSE:TT) by 17.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 204,695 shares of the company’s stock after acquiring an additional 30,558 shares during the quarter. Korea Investment CORP’s holdings in Trane Technologies were worth $86,373,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Icon Advisers Inc. Co. bought a new stake in Trane Technologies during the second quarter valued at about $26,000. Financial Consulate Inc. bought a new position in Trane Technologies in the third quarter worth about $25,000. United Community Bank lifted its position in shares of Trane Technologies by 134.4% during the third quarter. United Community Bank now owns 75 shares of the company’s stock valued at $32,000 after buying an additional 43 shares during the last quarter. Halbert Hargrove Global Advisors LLC lifted its position in shares of Trane Technologies by 34.2% during the third quarter. Halbert Hargrove Global Advisors LLC now owns 102 shares of the company’s stock valued at $43,000 after buying an additional 26 shares during the last quarter. Finally, Hantz Financial Services Inc. boosted its holdings in shares of Trane Technologies by 58.2% in the 3rd quarter. Hantz Financial Services Inc. now owns 106 shares of the company’s stock valued at $45,000 after buying an additional 39 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Insider Transactions at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 5,588 shares of Trane Technologies stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $462.60, for a total transaction of $2,585,008.80. Following the completion of the sale, the chief executive officer owned 96,948 shares of the company’s stock, valued at approximately $44,848,144.80. The trade was a 5.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Christopher J. Kuehn sold 2,389 shares of the business’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $462.70, for a total value of $1,105,390.30. Following the sale, the chief financial officer owned 60,486 shares in the company, valued at approximately $27,986,872.20. The trade was a 3.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 8,936 shares of company stock worth $4,133,991. 0.14% of the stock is owned by insiders.

Trane Technologies Stock Down 3.1%

NYSE:TT opened at $423.04 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $479.37. The company has a market cap of $93.63 billion, a PE ratio of 32.59, a P/E/G ratio of 2.23 and a beta of 1.19. The company’s 50 day moving average is $422.75 and its two-hundred day moving average is $417.05.

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

Trane Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 6th will be paid a $1.05 dividend. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.94. The ex-dividend date is Friday, March 6th. This represents a $4.20 dividend on an annualized basis and a yield of 1.0%. Trane Technologies’s dividend payout ratio (DPR) is 28.97%.

Wall Street Analyst Weigh In

Several research firms recently commented on TT. Melius Research upgraded shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price objective for the company in a research note on Wednesday, January 7th. Barclays lifted their price target on shares of Trane Technologies from $505.00 to $507.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Oppenheimer upped their price target on Trane Technologies from $460.00 to $468.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. Royal Bank Of Canada increased their price objective on Trane Technologies from $469.00 to $470.00 and gave the company a “sector perform” rating in a report on Friday, January 30th. Finally, JPMorgan Chase & Co. boosted their target price on Trane Technologies from $434.00 to $460.00 and gave the stock a “neutral” 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 issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $484.67.

Trane Technologies 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.