American Century Companies Inc. Buys 54,295 Shares of Trane Technologies plc (NYSE:TT)

American Century Companies Inc. increased its stake in Trane Technologies plc (NYSE:TT) by 151.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 90,053 shares of the company’s stock after purchasing an additional 54,295 shares during the period. American Century Companies Inc.’s holdings in Trane Technologies were worth $33,261,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of TT. Raymond James Financial Inc. acquired a new position in shares of Trane Technologies in the 4th quarter valued at approximately $611,322,000. Bank Julius Baer & Co. Ltd Zurich increased its stake in Trane Technologies by 455.2% in the fourth 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 during the last quarter. Nordea Investment Management AB raised its position in 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 purchasing an additional 293,916 shares in the last quarter. Proficio Capital Partners LLC lifted its stake in Trane Technologies by 47,293.6% during the fourth quarter. Proficio Capital Partners LLC now owns 253,082 shares of the company’s stock worth $93,476,000 after purchasing an additional 252,548 shares during the last quarter. Finally, AustralianSuper Pty Ltd boosted its holdings in shares of Trane Technologies by 470.9% in the 4th quarter. AustralianSuper Pty Ltd now owns 179,794 shares of the company’s stock valued at $66,407,000 after purchasing an additional 148,302 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

TT has been the subject of several recent analyst reports. Melius downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective for the company. in a research report on Tuesday, January 28th. JPMorgan Chase & Co. raised their price target on shares of Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Citigroup decreased their price target on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Royal Bank of Canada increased their price objective on shares of Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a research note on Friday, January 3rd. Finally, Melius Research reaffirmed a “hold” rating and set a $398.00 target price on shares of Trane Technologies in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $413.69.

Insider Activity

In other Trane Technologies news, CEO David S. Regnery sold 2,754 shares of the firm’s stock in a transaction on 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 directly owns 132,969 shares in the company, valued at approximately $47,515,142.46. This trade represents a 2.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Mairead Magner sold 198 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total transaction of $70,806.78. Following the transaction, the senior vice president now owns 13,401 shares in the company, valued at $4,792,331.61. This represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,234 shares of company stock worth $2,588,102 in the last quarter. 0.38% of the stock is owned by corporate insiders.

Trane Technologies Price Performance

TT stock opened at $331.69 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The firm has a market cap of $74.40 billion, a price-to-earnings ratio of 29.48, a PEG ratio of 2.50 and a beta of 1.08. The company’s fifty day simple moving average is $357.83 and its 200 day simple moving average is $379.73. Trane Technologies plc has a 12-month low of $286.32 and a 12-month high of $422.00.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, beating 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%. On average, analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be given a dividend of $0.94 per share. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.76 annualized dividend and a dividend yield of 1.13%. Trane Technologies’s dividend payout ratio (DPR) is 33.42%.

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.