Trane Technologies plc $TT Shares Acquired by Sei Investments Co.

Sei Investments Co. grew its stake in Trane Technologies plc (NYSE:TT) by 261.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 357,337 shares of the company’s stock after buying an additional 258,478 shares during the period. Sei Investments Co. owned 0.16% of Trane Technologies worth $148,915,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Farther Finance Advisors LLC raised its stake in shares of Trane Technologies by 64.0% during the 4th quarter. Farther Finance Advisors LLC now owns 7,478 shares of the company’s stock worth $2,911,000 after purchasing an additional 2,917 shares in the last quarter. Dara Capital US Inc. bought a new stake in shares of Trane Technologies in the 4th quarter valued at approximately $966,000. ProCore Advisors LLC bought a new stake in shares of Trane Technologies in the 4th quarter valued at approximately $939,000. Horizon Investments LLC increased its holdings in Trane Technologies by 115.4% in the fourth quarter. Horizon Investments LLC now owns 30,560 shares of the company’s stock worth $11,894,000 after buying an additional 16,370 shares during the last quarter. Finally, Buffalo Business & Estate Services Ltd. bought a new position in Trane Technologies during the fourth quarter valued at approximately $4,325,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Stock Up 1.5%

TT opened at $480.56 on Friday. The firm has a market cap of $106.23 billion, a P/E ratio of 37.17, a price-to-earnings-growth ratio of 2.18 and a beta of 1.19. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10. The business has a 50 day moving average price of $469.84 and a 200 day moving average price of $449.65. Trane Technologies plc has a twelve month low of $348.06 and a twelve month high of $505.87.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Friday, May 1st. The company reported $2.63 EPS for the quarter, beating the consensus estimate of $2.53 by $0.10. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The company had revenue of $4.97 billion for the quarter, compared to the consensus estimate of $4.81 billion. During the same quarter last year, the company posted $2.45 earnings per share. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. Research analysts forecast that Trane Technologies plc will post 14.89 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be paid a $1.05 dividend. The ex-dividend date is Friday, September 4th. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. Trane Technologies’s dividend payout ratio (DPR) is presently 32.48%.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Barclays lifted their target price on shares of Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Evercore began coverage on shares of Trane Technologies in a research note on Monday, April 13th. They set an “outperform” rating and a $535.00 price target on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a report on Friday, July 17th. KeyCorp lifted their price objective on shares of Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Finally, Sanford C. Bernstein set a $555.00 price objective on shares of Trane Technologies in a report on Thursday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $516.67.

Insider Buying and Selling

In related news, insider Donald E. Simmons sold 4,593 shares of Trane Technologies stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $500.00, for a total value of $2,296,500.00. Following the transaction, the insider owned 3,819 shares in the company, valued at $1,909,500. This trade represents a 54.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is owned by company insiders.

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.