Aptus Capital Advisors LLC Has $6.22 Million Stock Holdings in Trane Technologies plc $TT

Aptus Capital Advisors LLC grew its stake in shares of Trane Technologies plc (NYSE:TT) by 169.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,738 shares of the company’s stock after purchasing an additional 9,276 shares during the quarter. Aptus Capital Advisors LLC’s holdings in Trane Technologies were worth $6,219,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Norges Bank acquired a new stake in Trane Technologies during the 2nd quarter worth approximately $1,356,065,000. JPMorgan Chase & Co. boosted its holdings in Trane Technologies by 10.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company’s stock valued at $6,550,975,000 after purchasing an additional 1,433,563 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in shares of Trane Technologies by 229.3% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,752,551 shares of the company’s stock worth $766,583,000 after purchasing an additional 1,220,388 shares in the last quarter. ABN AMRO Bank N.V. bought a new position in shares of Trane Technologies during the second quarter worth approximately $291,206,000. Finally, Corient Private Wealth LLC raised its position in shares of Trane Technologies by 135.4% in the second quarter. Corient Private Wealth LLC now owns 735,589 shares of the company’s stock valued at $321,757,000 after buying an additional 423,090 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Performance

Shares of Trane Technologies stock opened at $423.04 on Friday. The company’s 50 day moving average price is $422.75 and its two-hundred day moving average price is $417.05. The firm has a market capitalization of $93.63 billion, a P/E ratio of 32.59, a P/E/G ratio of 2.23 and a beta of 1.19. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $479.37. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.92.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $5.09 billion. During the same period in the prior year, the business earned $2.61 earnings per share. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, equities analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

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

Insider Transactions at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 2,389 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer directly owned 60,486 shares in the company, valued at approximately $27,986,872.20. The trade was a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO David S. Regnery sold 5,588 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $462.60, for a total transaction of $2,585,008.80. Following the completion of the transaction, the chief executive officer owned 96,948 shares of the company’s stock, valued at approximately $44,848,144.80. This trade represents a 5.45% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 8,936 shares of company stock valued at $4,133,991. Company insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

TT has been the topic of a number of analyst reports. UBS Group reduced their price target on Trane Technologies from $544.00 to $520.00 and set a “buy” rating on the stock in a research report on Monday, January 5th. Oppenheimer increased their target price on Trane Technologies from $460.00 to $468.00 and gave the stock an “outperform” rating in a report on Friday, January 30th. JPMorgan Chase & Co. boosted their price target on Trane Technologies from $434.00 to $460.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. Royal Bank Of Canada upped their price target on shares of Trane Technologies from $469.00 to $470.00 and gave the stock a “sector perform” rating in a report on Friday, January 30th. Finally, Bank of America upgraded Trane Technologies from a “neutral” rating to a “buy” rating and upped their target price for the stock from $490.00 to $550.00 in a research note on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $484.67.

About Trane Technologies

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.