American International Group Inc. Acquires 1,326 Shares of Trane Technologies plc (NYSE:TT)

American International Group Inc. lifted its position in Trane Technologies plc (NYSE:TT) by 2.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 62,358 shares of the company’s stock after purchasing an additional 1,326 shares during the period. American International Group Inc.’s holdings in Trane Technologies were worth $15,209,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. GSA Capital Partners LLP purchased a new stake in Trane Technologies in the 4th quarter worth approximately $3,086,000. Wellington Management Group LLP boosted its holdings in Trane Technologies by 36.4% in the third quarter. Wellington Management Group LLP now owns 1,639,058 shares of the company’s stock valued at $332,581,000 after acquiring an additional 436,997 shares in the last quarter. Capital World Investors increased its position in Trane Technologies by 0.6% during the 4th quarter. Capital World Investors now owns 2,176,595 shares of the company’s stock valued at $530,870,000 after purchasing an additional 11,930 shares during the period. Stifel Financial Corp raised its holdings in Trane Technologies by 26.8% in the 4th quarter. Stifel Financial Corp now owns 99,611 shares of the company’s stock worth $24,295,000 after purchasing an additional 21,040 shares in the last quarter. Finally, Schroder Investment Management Group lifted its position in shares of Trane Technologies by 11.9% in the 4th quarter. Schroder Investment Management Group now owns 322,994 shares of the company’s stock worth $78,778,000 after purchasing an additional 34,243 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Christopher J. Kuehn sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $318.67, for a total transaction of $1,274,680.00. Following the completion of the transaction, the chief financial officer now owns 61,293 shares in the company, valued at $19,532,240.31. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Christopher J. Kuehn sold 4,000 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $318.67, for a total value of $1,274,680.00. Following the sale, the chief financial officer now owns 61,293 shares in the company, valued at $19,532,240.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Evan M. Turtz sold 8,988 shares of the stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $321.30, for a total transaction of $2,887,844.40. Following the transaction, the senior vice president now owns 20,758 shares of the company’s stock, valued at approximately $6,669,545.40. The disclosure for this sale can be found here. 0.38% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TT. UBS Group raised their target price on Trane Technologies from $330.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, June 3rd. Citigroup upped their target price on shares of Trane Technologies from $355.00 to $366.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Barclays boosted their price objective on shares of Trane Technologies from $354.00 to $380.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 4th. Wells Fargo & Company raised their target price on shares of Trane Technologies from $281.00 to $295.00 and gave the company an “underweight” rating in a research note on Thursday, May 2nd. Finally, TD Cowen boosted their price target on Trane Technologies from $325.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $309.79.

Trane Technologies Stock Performance

TT stock traded down $3.93 during midday trading on Friday, reaching $329.64. 875,965 shares of the company’s stock traded hands, compared to its average volume of 1,068,255. The stock’s 50-day moving average is $317.18 and its 200 day moving average is $282.69. The stock has a market cap of $74.61 billion, a P/E ratio of 35.22, a PEG ratio of 2.62 and a beta of 1.01. Trane Technologies plc has a 52-week low of $181.46 and a 52-week high of $338.09. 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 (NYSE:TT) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $1.94 EPS for the quarter, topping the consensus estimate of $1.64 by $0.30. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. The firm had revenue of $4.22 billion for the quarter, compared to the consensus estimate of $3.99 billion. During the same quarter last year, the company earned $1.41 earnings per share. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. As a group, analysts anticipate that Trane Technologies plc will post 10.46 EPS for the current year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 1.02%. The ex-dividend date is Friday, September 6th. Trane Technologies’s dividend payout ratio (DPR) is presently 35.90%.

About Trane Technologies

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.