Nuveen Asset Management LLC Has $861.56 Million Stock Position in Trane Technologies plc (NYSE:TT)

Nuveen Asset Management LLC increased its position in shares of Trane Technologies plc (NYSE:TT) by 1.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,332,626 shares of the company’s stock after buying an additional 37,389 shares during the quarter. Nuveen Asset Management LLC owned about 1.04% of Trane Technologies worth $861,555,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Minot DeBlois Advisors LLC bought a new stake in Trane Technologies during the 4th quarter worth approximately $26,000. Sound Income Strategies LLC lifted its position in shares of Trane Technologies by 1,314.3% during the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock worth $37,000 after buying an additional 92 shares in the last quarter. Flagship Wealth Advisors LLC purchased a new stake in shares of Trane Technologies during the fourth quarter valued at approximately $37,000. Golden State Wealth Management LLC purchased a new position in Trane Technologies in the fourth quarter worth $39,000. Finally, BankPlus Trust Department purchased a new position in shares of Trane Technologies in the 4th quarter worth about $45,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Stock Up 1.4%

TT stock opened at $422.17 on Wednesday. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $424.46. The stock has a market cap of $94.15 billion, a price-to-earnings ratio of 37.53, a price-to-earnings-growth ratio of 2.50 and a beta of 1.14. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The company’s 50 day moving average is $353.01 and its 200 day moving average is $372.66.

Trane Technologies (NYSE:TT) last announced its earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.25. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. The company had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.46 billion. During the same period in the previous year, the business earned $1.94 earnings per share. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. Sell-side analysts predict that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be issued a dividend of $0.94 per share. The ex-dividend date is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.89%. Trane Technologies’s dividend payout ratio is 31.28%.

Insider Buying and Selling

In related news, insider Donald E. Simmons sold 3,571 shares of Trane Technologies stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total value of $1,356,980.00. Following the transaction, the insider now owns 3,593 shares in the company, valued at $1,365,340. This trade represents a 49.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.38% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. JPMorgan Chase & Co. upped their price objective on Trane Technologies from $323.00 to $334.00 and gave the company a “neutral” rating in a research note on Thursday, May 1st. UBS Group lowered their price objective on Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Royal Bank of Canada increased their target price on shares of Trane Technologies from $363.00 to $408.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 1st. HSBC raised shares of Trane Technologies from a “hold” rating to a “buy” rating and boosted their price target for the company from $405.00 to $415.00 in a research report on Friday, April 25th. Finally, Hsbc Global Res upgraded shares of Trane Technologies from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 25th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $421.07.

Trane Technologies Company 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.