Bridgewater Associates LP Increases Stock Position in Trane Technologies plc (NYSE:TT)

Bridgewater Associates LP grew its stake in Trane Technologies plc (NYSE:TT) by 42.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,351 shares of the company’s stock after acquiring an additional 401 shares during the period. Bridgewater Associates LP’s holdings in Trane Technologies were worth $499,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Norges Bank purchased a new position in shares of Trane Technologies during the fourth quarter worth $1,117,816,000. Raymond James Financial Inc. purchased a new position in Trane Technologies during the 4th quarter valued at about $611,322,000. Bank Julius Baer & Co. Ltd Zurich grew its position in Trane Technologies by 455.2% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 427,226 shares of the company’s stock valued at $167,977,000 after acquiring an additional 350,277 shares in the last quarter. Nordea Investment Management AB increased its stake in Trane Technologies by 42.9% during the fourth quarter. Nordea Investment Management AB now owns 978,275 shares of the company’s stock worth $361,874,000 after purchasing an additional 293,916 shares during the period. Finally, Caisse Des Depots ET Consignations acquired a new stake in shares of Trane Technologies during the fourth quarter worth about $98,560,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Trane Technologies news, CFO Christopher J. Kuehn sold 770 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $358.39, for a total value of $275,960.30. Following the completion of the sale, the chief financial officer now owns 62,221 shares of the company’s stock, valued at approximately $22,299,384.19. This trade represents a 1.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $984,114.36. Following the completion of the sale, the chief executive officer now owns 132,969 shares of the company’s stock, valued at $47,515,142.46. This trade represents a 2.03 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,234 shares of company stock worth $2,588,102. 0.38% of the stock is owned by insiders.

Trane Technologies Stock Performance

Shares of Trane Technologies stock opened at $333.33 on Friday. The stock has a market capitalization of $74.76 billion, a price-to-earnings ratio of 29.63, a PEG ratio of 2.50 and a beta of 1.08. The firm’s fifty day simple moving average is $344.98 and its 200-day simple moving average is $374.75. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. Trane Technologies plc has a 12 month low of $288.95 and a 12 month high of $422.00.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, topping 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%. As a group, equities analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.76 annualized dividend and a yield of 1.13%. Trane Technologies’s dividend payout ratio is currently 33.42%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. UBS Group cut their target price on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Melius lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective on the stock. in a research report on Tuesday, January 28th. Barclays decreased their target price on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a report on Monday, March 10th. JPMorgan Chase & Co. cut their price target on Trane Technologies from $396.00 to $323.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Finally, Wells Fargo & Company lowered their price objective on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Trane Technologies has a consensus rating of “Hold” and an average target price of $405.31.

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.