Trane Technologies plc $TT Stock: Machina Capital S.A.S. Raises Holdings

Machina Capital S.A.S. boosted its stake in shares of Trane Technologies plc (NYSE:TT) by 132.6% during the third quarter, Holdings Channel reports. The fund owned 10,639 shares of the company’s stock after acquiring an additional 6,066 shares during the period. Machina Capital S.A.S.’s holdings in Trane Technologies were worth $4,809,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TT. Amundi raised its stake in shares of Trane Technologies by 47.8% in the first quarter. Amundi now owns 2,174,396 shares of the company’s stock worth $906,158,000 after acquiring an additional 703,018 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Trane Technologies by 10.6% during the first quarter. Janus Henderson Group PLC now owns 1,878,018 shares of the company’s stock valued at $782,707,000 after purchasing an additional 180,537 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Trane Technologies by 3.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,035,241 shares of the company’s stock valued at $431,347,000 after purchasing an additional 32,286 shares during the last quarter. Ninety One UK Ltd grew its stake in shares of Trane Technologies by 0.4% during the third quarter. Ninety One UK Ltd now owns 926,668 shares of the company’s stock valued at $418,835,000 after purchasing an additional 3,624 shares during the last quarter. Finally, California Public Employees Retirement System increased its holdings in shares of Trane Technologies by 51.9% in the first quarter. California Public Employees Retirement System now owns 686,691 shares of the company’s stock valued at $286,172,000 after purchasing an additional 234,666 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Stock Performance

Trane Technologies stock opened at $424.68 on Thursday. The company has a market cap of $92.96 billion, a PE ratio of 29.99, a PEG ratio of 1.98 and a beta of 1.19. The company has a current ratio of 1.12, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. Trane Technologies plc has a 1 year low of $348.06 and a 1 year high of $505.87. The company’s 50-day moving average is $444.35 and its two-hundred day moving average is $454.94.

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

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Friday, December 4th will be paid a $1.05 dividend. The ex-dividend date of this dividend is Friday, December 4th. This represents a $4.20 dividend on an annualized basis and a yield of 1.0%. Trane Technologies’s dividend payout ratio (DPR) is presently 29.66%.

Analyst Ratings Changes

Several research firms recently weighed in on TT. Sanford C. Bernstein boosted their price objective on shares of Trane Technologies from $555.00 to $575.00 and gave the stock an “outperform” rating in a research report on Friday, August 14th. Deutsche Bank decreased their price objective on Trane Technologies from $515.00 to $499.00 and set a “hold” rating on the stock in a research report on Wednesday, September 30th. Wall Street Zen cut Trane Technologies from a “buy” rating to a “hold” rating in a research note on Sunday. Weiss Ratings upgraded Trane Technologies from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, September 10th. Finally, BNP Paribas Exane boosted their target price on Trane Technologies from $560.00 to $575.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $532.21.

Insider Buying and Selling

In other Trane Technologies news, CEO David Regnery sold 48,091 shares of Trane Technologies stock in a transaction 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 owned 96,951 shares of the company’s stock, valued at approximately $46,536,480. The trade was a 33.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.43% of the company’s stock.

Trane Technologies Profile

Trane Technologies plc is a global climate innovator that designs, manufactures, and services heating, ventilation, air conditioning, and refrigeration systems. Its products and services support commercial buildings, homes, and transportation applications, including temperature-controlled shipping. The company’s portfolio includes the Trane brand of HVAC systems and building services, as well as Thermo King equipment for transport refrigeration and climate control. It also offers building controls, energy-efficiency solutions, system maintenance, and related services.