Victory Capital Management Inc. Raises Stock Position in Trane Technologies plc (NYSE:TT)

Victory Capital Management Inc. boosted its position in shares of Trane Technologies plc (NYSE:TT) by 4.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 179,510 shares of the company’s stock after buying an additional 7,874 shares during the quarter. Victory Capital Management Inc.’s holdings in Trane Technologies were worth $43,782,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. BKM Wealth Management LLC acquired a new position in shares of Trane Technologies in the fourth quarter valued at approximately $25,000. Venturi Wealth Management LLC increased its stake in Trane Technologies by 139.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 151 shares of the company’s stock valued at $31,000 after buying an additional 88 shares during the period. Rosenberg Matthew Hamilton increased its stake in Trane Technologies by 27.2% in the 4th quarter. Rosenberg Matthew Hamilton now owns 192 shares of the company’s stock valued at $47,000 after buying an additional 41 shares during the period. Ancora Advisors LLC acquired a new position in Trane Technologies in the 3rd quarter valued at $40,000. Finally, Operose Advisors LLC acquired a new position in Trane Technologies in the 3rd quarter valued at $53,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TT has been the topic of several recent research reports. The Goldman Sachs Group boosted their price objective on shares of Trane Technologies from $287.00 to $326.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. TD Cowen boosted their price objective on shares of Trane Technologies from $325.00 to $360.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Mizuho upped their price target on shares of Trane Technologies from $280.00 to $325.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. JPMorgan Chase & Co. upped their price target on shares of Trane Technologies from $247.00 to $300.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Barclays upped their price target on shares of Trane Technologies from $286.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $300.54.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, SVP Evan M. Turtz sold 2,821 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $288.33, for a total value of $813,378.93. Following the transaction, the senior vice president now directly owns 20,729 shares in the company, valued at approximately $5,976,792.57. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Trane Technologies news, SVP Evan M. Turtz sold 2,821 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $288.33, for a total value of $813,378.93. Following the transaction, the senior vice president now directly owns 20,729 shares in the company, valued at approximately $5,976,792.57. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Christopher J. Kuehn sold 3,762 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $286.48, for a total transaction of $1,077,737.76. Following the completion of the transaction, the chief financial officer now owns 61,691 shares in the company, valued at $17,673,237.68. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,237 shares of company stock worth $8,024,534. Corporate insiders own 0.39% of the company’s stock.

Trane Technologies Price Performance

Shares of NYSE TT opened at $319.29 on Monday. The stock has a market cap of $72.27 billion, a price-to-earnings ratio of 34.11, a PEG ratio of 2.54 and a beta of 1.01. Trane Technologies plc has a 52 week low of $162.04 and a 52 week high of $327.09. The company’s 50-day moving average price is $295.83 and its 200 day moving average price is $258.71. The company has a current ratio of 1.13, a quick ratio of 0.78 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.30. The firm had revenue of $4.22 billion for the quarter, compared to analysts’ expectations of $3.99 billion. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The firm’s revenue was up 15.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.41 EPS. As a group, research analysts forecast that Trane Technologies plc will post 10.48 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a $0.84 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $3.36 dividend on an annualized basis and a yield of 1.05%. Trane Technologies’s dividend payout ratio (DPR) is 35.90%.

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.