Rakuten Investment Management Inc. Buys 39,559 Shares of Trane Technologies plc $TT

Rakuten Investment Management Inc. acquired a new position in shares of Trane Technologies plc (NYSE:TT) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 39,559 shares of the company’s stock, valued at approximately $18,023,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Wilkerson Advisory Group LLC lifted its position in shares of Trane Technologies by 136.0% in the first quarter. Wilkerson Advisory Group LLC now owns 59 shares of the company’s stock worth $25,000 after purchasing an additional 34 shares in the last quarter. Elevation Wealth Partners LLC increased its stake in shares of Trane Technologies by 153.8% in the second quarter. Elevation Wealth Partners LLC now owns 66 shares of the company’s stock worth $32,000 after acquiring an additional 40 shares during the last quarter. Frazier Financial Advisors LLC bought a new position in Trane Technologies during the first quarter valued at approximately $33,000. James T. Borello RIA grew its position in Trane Technologies by 41.7% in the third quarter. James T. Borello RIA now owns 102 shares of the company’s stock worth $46,000 after acquiring an additional 30 shares in the last quarter. Finally, MADDEN SECURITIES Corp acquired a new stake in shares of Trane Technologies in the 3rd quarter valued at $46,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Oppenheimer reissued an “outperform” rating and issued a $500.00 price objective on shares of Trane Technologies in a research note on Friday, October 30th. Deutsche Bank Aktiengesellschaft decreased their price objective on Trane Technologies from $515.00 to $499.00 and set a “hold” rating on the stock in a report on Wednesday, September 30th. Evercore raised their target price on Trane Technologies from $560.00 to $565.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. JPMorgan Chase & Co. started coverage on shares of Trane Technologies in a research note on Friday, October 9th. They issued an “overweight” rating and a $550.00 target price on the stock. Finally, The Goldman Sachs Group raised Trane Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $548.00 to $565.00 in a report on Wednesday, October 14th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Trane Technologies presently has an average rating of “Moderate Buy” and an average target price of $535.89.

Insider Activity

In related news, CEO David Regnery sold 48,091 shares of the business’s stock in a transaction that occurred on Tuesday, October 6th. The shares were sold at an average price of $480.00, for a total transaction of $23,083,680.00. Following the completion of the sale, the chief executive officer directly owned 96,951 shares of the company’s stock, valued at $46,536,480. The trade was a 33.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.43% of the company’s stock.

Trane Technologies Stock Performance

Shares of NYSE:TT opened at $410.31 on Thursday. Trane Technologies plc has a twelve month low of $348.06 and a twelve month high of $505.87. The firm has a market cap of $89.82 billion, a PE ratio of 28.98, a price-to-earnings-growth ratio of 1.96 and a beta of 1.19. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.12. The business has a fifty day moving average of $448.16 and a 200-day moving average of $454.37.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Thursday, October 29th. The company reported $4.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.74 by $0.12. Trane Technologies had a net margin of 13.56% and a return on equity of 37.26%. The business had revenue of $6.76 billion for the quarter, compared to the consensus estimate of $6.50 billion. During the same quarter in the prior year, the company earned $3.88 EPS. The firm’s quarterly revenue was up 17.7% on a year-over-year basis. On average, equities research analysts predict that Trane Technologies plc will post 15.29 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Friday, December 4th will be issued a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, December 4th. Trane Technologies’s payout ratio is currently 29.66%.

Trane Technologies Company Profile

Trane Technologies plc is a global climate technology company that develops solutions for heating, ventilation, air conditioning, refrigeration and building management. Its products and services are designed to improve indoor comfort, energy efficiency and the sustainability of commercial, industrial, residential and institutional buildings.

The company operates through well-known brands including Trane, Thermo King and Frigoblock. Trane provides HVAC equipment, building controls, digital solutions, maintenance and energy services, while Thermo King and Frigoblock offer temperature-control systems for refrigerated transportation.