TCW Group Inc. Buys 25,711 Shares of Trane Technologies plc (NYSE:TT)

TCW Group Inc. lifted its stake in shares of Trane Technologies plc (NYSE:TT) by 64.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 65,629 shares of the company’s stock after acquiring an additional 25,711 shares during the quarter. TCW Group Inc.’s holdings in Trane Technologies were worth $24,240,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA lifted its stake in Trane Technologies by 35.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock worth $991,460,000 after purchasing an additional 671,691 shares during the last quarter. FMR LLC raised its stake in shares of Trane Technologies by 4.0% during the third quarter. FMR LLC now owns 10,337,672 shares of the company’s stock valued at $4,018,563,000 after acquiring an additional 397,537 shares during the last quarter. Nordea Investment Management AB increased its position in shares of Trane Technologies by 42.9% during the fourth quarter. Nordea Investment Management AB now owns 978,275 shares of the company’s stock valued at $361,874,000 after buying an additional 293,916 shares during the period. AustralianSuper Pty Ltd increased its position in shares of Trane Technologies by 470.9% during the fourth quarter. AustralianSuper Pty Ltd now owns 179,794 shares of the company’s stock valued at $66,407,000 after buying an additional 148,302 shares during the period. Finally, ING Groep NV increased its position in shares of Trane Technologies by 72.3% during the third quarter. ING Groep NV now owns 255,681 shares of the company’s stock valued at $99,391,000 after buying an additional 107,323 shares during the period. 82.97% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO David S. Regnery sold 2,754 shares of the firm’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 completion of the sale, the chief executive officer now owns 132,969 shares in the company, valued at approximately $47,515,142.46. This trade represents a 2.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Evan M. Turtz sold 318 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $358.12, for a total transaction of $113,882.16. Following the completion of the sale, the senior vice president now owns 20,513 shares of the company’s stock, valued at $7,346,115.56. This trade represents a 1.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,563 shares of company stock valued at $4,388,966 in the last three months. Corporate insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

TT has been the topic of several research analyst reports. Wells Fargo & Company reduced their price target on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a research report on Friday, January 31st. Hsbc Global Res downgraded shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Robert W. Baird dropped their target price on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Citigroup lowered their price objective on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Finally, HSBC downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective on the stock. in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $415.25.

Trane Technologies Stock Performance

Shares of NYSE TT opened at $354.56 on Friday. The firm has a fifty day moving average price of $374.82 and a 200-day moving average price of $379.83. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. The stock has a market cap of $79.52 billion, a PE ratio of 31.52, a price-to-earnings-growth ratio of 2.50 and a beta of 1.05. Trane Technologies plc has a 1 year low of $279.00 and a 1 year high of $422.00.

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

Trane Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be paid a $0.94 dividend. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies’s dividend payout ratio (DPR) is presently 29.87%.

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.