Charles Schwab Investment Management Inc. Acquires 21,096 Shares of Trane Technologies plc (NYSE:TT)

Charles Schwab Investment Management Inc. boosted its stake in shares of Trane Technologies plc (NYSE:TT) by 1.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,229,434 shares of the company’s stock after acquiring an additional 21,096 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.54% of Trane Technologies worth $299,859,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. BKM Wealth Management LLC bought a new position in Trane Technologies during the 4th quarter valued at about $25,000. Venturi Wealth Management LLC raised its holdings in shares of Trane Technologies by 139.7% in the third quarter. Venturi Wealth Management LLC now owns 151 shares of the company’s stock worth $31,000 after buying an additional 88 shares during the period. Ancora Advisors LLC bought a new stake in shares of Trane Technologies during the 3rd quarter worth approximately $40,000. Rosenberg Matthew Hamilton boosted its holdings in Trane Technologies by 27.2% during the 4th quarter. Rosenberg Matthew Hamilton now owns 192 shares of the company’s stock valued at $47,000 after acquiring an additional 41 shares during the period. Finally, Operose Advisors LLC purchased a new stake in Trane Technologies in the third quarter worth $53,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Robert W. Baird boosted their target price on shares of Trane Technologies from $315.00 to $344.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Royal Bank of Canada raised their target price on shares of Trane Technologies from $231.00 to $246.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. The Goldman Sachs Group boosted their price target on Trane Technologies from $287.00 to $326.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Wells Fargo & Company raised their price objective on Trane Technologies from $281.00 to $295.00 and gave the stock an “underweight” rating in a report on Thursday, May 2nd. Finally, Mizuho upped their target price on Trane Technologies from $280.00 to $325.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $300.54.

Trane Technologies Stock Up 0.4 %

Shares of NYSE:TT traded up $1.31 during trading on Wednesday, reaching $327.20. The stock had a trading volume of 324,142 shares, compared to its average volume of 1,018,958. The firm’s 50-day simple moving average is $296.65 and its 200 day simple moving average is $259.66. The company has a current ratio of 1.13, a quick ratio of 0.74 and a debt-to-equity ratio of 0.58. Trane Technologies plc has a one year low of $162.04 and a one year high of $329.14. The company has a market capitalization of $74.06 billion, a P/E ratio of 35.04, a PEG ratio of 2.54 and a beta of 1.01.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.30. The business had revenue of $4.22 billion for the quarter, compared to the consensus estimate of $3.99 billion. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. The business’s quarterly revenue was up 15.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.41 earnings per share. As a group, research analysts expect that Trane Technologies plc will post 10.48 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a dividend of $0.84 per share. The ex-dividend date is Thursday, June 6th. This represents a $3.36 dividend on an annualized basis and a yield of 1.03%. Trane Technologies’s payout ratio is 35.90%.

Insiders Place Their Bets

In other Trane Technologies news, CFO Christopher J. Kuehn sold 3,762 shares of Trane Technologies stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $286.48, for a total transaction of $1,077,737.76. Following the completion of the sale, the chief financial officer now owns 61,691 shares of the company’s stock, valued at approximately $17,673,237.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Trane Technologies news, CFO Christopher J. Kuehn sold 3,762 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $286.48, for a total transaction of $1,077,737.76. Following the completion of the transaction, the chief financial officer now directly owns 61,691 shares of the company’s stock, valued at approximately $17,673,237.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Paul A. Camuti sold 508 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $273.34, for a total transaction of $138,856.72. Following the completion of the sale, the executive vice president now directly owns 89,447 shares in the company, valued at $24,449,442.98. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,237 shares of company stock valued at $8,024,534. Insiders own 0.39% of the company’s stock.

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.