Los Angeles Capital Management LLC Buys 78,482 Shares of Trane Technologies plc (NYSE:TT)

Los Angeles Capital Management LLC raised its position in shares of Trane Technologies plc (NYSE:TT) by 16.1% in the 4th quarter, Holdings Channel reports. The firm owned 566,893 shares of the company’s stock after acquiring an additional 78,482 shares during the period. Trane Technologies accounts for approximately 0.9% of Los Angeles Capital Management LLC’s holdings, making the stock its 17th largest position. Los Angeles Capital Management LLC’s holdings in Trane Technologies were worth $209,382,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Tidal Investments LLC increased its holdings in Trane Technologies by 22.2% in the third quarter. Tidal Investments LLC now owns 15,827 shares of the company’s stock valued at $6,152,000 after purchasing an additional 2,874 shares during the period. Synovus Financial Corp raised its position in shares of Trane Technologies by 16.8% during the third quarter. Synovus Financial Corp now owns 8,828 shares of the company’s stock worth $3,431,000 after acquiring an additional 1,271 shares during the last quarter. Ameritas Advisory Services LLC bought a new stake in Trane Technologies in the fourth quarter valued at approximately $468,000. HB Wealth Management LLC boosted its holdings in Trane Technologies by 14.3% in the fourth quarter. HB Wealth Management LLC now owns 5,689 shares of the company’s stock valued at $2,101,000 after acquiring an additional 711 shares during the last quarter. Finally, GDS Wealth Management increased its position in Trane Technologies by 4.3% during the 3rd quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock valued at $20,123,000 after purchasing an additional 2,124 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Insider Activity

In other Trane Technologies news, CEO David S. Regnery sold 2,754 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total value of $984,114.36. Following the sale, the chief executive officer now owns 132,969 shares in the company, valued at approximately $47,515,142.46. This represents a 2.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Mairead Magner sold 4,329 shares of Trane Technologies stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the transaction, the senior vice president now owns 12,893 shares of the company’s stock, valued at $5,363,488. The trade was a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,563 shares of company stock valued at $4,388,966. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Stock Performance

Shares of TT stock opened at $346.49 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. Trane Technologies plc has a fifty-two week low of $279.00 and a fifty-two week high of $422.00. The company has a market capitalization of $77.72 billion, a P/E ratio of 30.80, a PEG ratio of 2.50 and a beta of 1.05. The stock has a 50 day moving average price of $373.78 and a two-hundred day moving average price of $380.36.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. Analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be issued a $0.94 dividend. The ex-dividend date is Friday, March 7th. This represents a $3.76 annualized dividend and a yield of 1.09%. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s payout ratio is 29.87%.

Wall Street Analysts Forecast Growth

TT has been the subject of several recent analyst reports. Wells Fargo & Company decreased their price objective on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a research report on Friday, January 31st. Robert W. Baird lowered their price objective on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Royal Bank of Canada upped their target price on Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a research report on Friday, January 3rd. Melius Research reiterated a “hold” rating and issued a $398.00 target price on shares of Trane Technologies in a report on Tuesday, January 28th. Finally, Hsbc Global Res cut Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Trane Technologies presently has an average rating of “Hold” and an average target price of $415.25.

Trane Technologies 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.