Barclays PLC Purchases 37,271 Shares of Trane Technologies plc $TT

Barclays PLC grew its position in Trane Technologies plc (NYSE:TT) by 7.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 529,258 shares of the company’s stock after purchasing an additional 37,271 shares during the quarter. Barclays PLC owned about 0.24% of Trane Technologies worth $223,326,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. Financial Consulate Inc. acquired a new position in Trane Technologies in the 3rd quarter valued at $25,000. Icon Advisers Inc. Co. acquired a new stake in shares of Trane Technologies during the second quarter worth $26,000. Hantz Financial Services Inc. lifted its holdings in shares of Trane Technologies by 1,016.7% during the second quarter. Hantz Financial Services Inc. now owns 67 shares of the company’s stock worth $29,000 after buying an additional 61 shares in the last quarter. United Community Bank boosted its position in shares of Trane Technologies by 134.4% in the third quarter. United Community Bank now owns 75 shares of the company’s stock valued at $32,000 after acquiring an additional 43 shares during the period. Finally, Halbert Hargrove Global Advisors LLC grew its stake in shares of Trane Technologies by 34.2% in the third quarter. Halbert Hargrove Global Advisors LLC now owns 102 shares of the company’s stock valued at $43,000 after acquiring an additional 26 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on TT shares. KeyCorp upgraded Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 price objective on the stock in a research note on Monday, December 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a research report on Wednesday, January 21st. UBS Group reduced their target price on Trane Technologies from $544.00 to $520.00 and set a “buy” rating on the stock in a report on Monday, January 5th. Barclays raised their price target on Trane Technologies from $505.00 to $507.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Finally, Wells Fargo & Company upped their price objective on shares of Trane Technologies from $375.00 to $400.00 and gave the stock an “underweight” rating in a research report on Friday, January 30th. One investment 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $484.67.

Trane Technologies Trading Down 3.1%

NYSE TT opened at $423.04 on Friday. The firm has a market capitalization of $93.63 billion, a PE ratio of 32.59, a price-to-earnings-growth ratio of 2.30 and a beta of 1.19. The business’s 50-day moving average price is $422.75 and its two-hundred day moving average price is $417.13. 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 12 month low of $298.15 and a 12 month high of $479.37.

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

Trane Technologies Increases Dividend

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

Insider Activity

In related news, CEO David S. Regnery sold 5,588 shares of the company’s 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 sale, the chief executive officer owned 96,948 shares in the company, valued at $44,848,144.80. This represents a 5.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $1,105,390.30. Following the completion of the sale, the chief financial officer 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 8,936 shares of company stock worth $4,133,991 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.