Jennison Associates LLC Grows Stake in Trane Technologies plc (NYSE:TT)

Jennison Associates LLC increased its holdings in shares of Trane Technologies plc (NYSE:TT) by 4.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,752 shares of the company’s stock after purchasing an additional 181 shares during the quarter. Jennison Associates LLC’s holdings in Trane Technologies were worth $1,159,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in TT. BKM Wealth Management LLC bought a new position in Trane Technologies during the fourth quarter valued at approximately $25,000. Venturi Wealth Management LLC boosted its stake in Trane Technologies by 139.7% during the third quarter. Venturi Wealth Management LLC now owns 151 shares of the company’s stock valued at $31,000 after buying an additional 88 shares during the last quarter. Avior Wealth Management LLC boosted its stake in Trane Technologies by 58.0% during the third quarter. Avior Wealth Management LLC now owns 177 shares of the company’s stock valued at $36,000 after buying an additional 65 shares during the last quarter. Ancora Advisors LLC bought a new position in Trane Technologies during the third quarter valued at approximately $40,000. Finally, Rosenberg Matthew Hamilton boosted its stake in Trane Technologies by 27.2% during the fourth quarter. Rosenberg Matthew Hamilton now owns 192 shares of the company’s stock valued at $47,000 after buying an additional 41 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insiders Place Their Bets

In other Trane Technologies news, SVP Keith A. Sultana sold 1,983 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $272.26, for a total transaction of $539,891.58. Following the transaction, the senior vice president now directly owns 42,575 shares in the company, valued at approximately $11,591,469.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Keith A. Sultana sold 1,637 shares of Trane Technologies stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $267.74, for a total value of $438,290.38. Following the transaction, the senior vice president now directly owns 42,374 shares in the company, valued at approximately $11,345,214.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Keith A. Sultana sold 1,983 shares of Trane Technologies stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $272.26, for a total value of $539,891.58. Following the completion of the transaction, the senior vice president now owns 42,575 shares in the company, valued at $11,591,469.50. The disclosure for this sale can be found here. Insiders have sold 29,874 shares of company stock worth $8,462,825 in the last ninety days. 0.39% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on TT shares. The Goldman Sachs Group increased their price target on Trane Technologies from $253.00 to $287.00 and gave the company a “neutral” rating in a research note on Monday, February 5th. Barclays raised their price objective on Trane Technologies from $286.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Royal Bank of Canada raised their price objective on Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a research note on Friday, February 2nd. Stephens raised their price objective on Trane Technologies from $235.00 to $280.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 6th. Finally, Citigroup raised their price objective on Trane Technologies from $309.00 to $355.00 and gave the company a “buy” rating in a research note on Monday, April 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $251.83.

Trane Technologies Price Performance

Shares of TT stock opened at $304.53 on Friday. Trane Technologies plc has a 52-week low of $162.04 and a 52-week high of $306.98. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.78 and a current ratio of 1.13. The firm has a market capitalization of $69.15 billion, a P/E ratio of 34.65, a P/E/G ratio of 2.53 and a beta of 1.05. The stock has a 50 day moving average price of $292.22 and a 200 day moving average price of $254.57.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Thursday, February 1st. The company reported $2.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.13 by $0.04. Trane Technologies had a return on equity of 32.01% and a net margin of 11.45%. The firm had revenue of $4.42 billion during the quarter, compared to analyst estimates of $4.43 billion. During the same period last year, the company earned $1.82 EPS. Trane Technologies’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, sell-side analysts predict that Trane Technologies plc will post 10.2 earnings per share for the current year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a dividend of $0.84 per share. The ex-dividend date is Thursday, June 6th. This represents a $3.36 annualized dividend and a yield of 1.10%. Trane Technologies’s payout ratio is currently 38.23%.

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.