Trane Technologies plc (NYSE:TT) Shares Acquired by International Assets Investment Management LLC

International Assets Investment Management LLC boosted its holdings in shares of Trane Technologies plc (NYSE:TT) by 7.0% in the 1st quarter, Holdings Channel reports. The fund owned 4,538 shares of the company’s stock after acquiring an additional 297 shares during the quarter. International Assets Investment Management LLC’s holdings in Trane Technologies were worth $1,346,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Norges Bank purchased a new position in Trane Technologies during the fourth quarter worth approximately $655,804,000. JPMorgan Chase & Co. increased its position in Trane Technologies by 5.4% during the third quarter. JPMorgan Chase & Co. now owns 17,085,662 shares of the company’s stock worth $3,466,852,000 after purchasing an additional 880,583 shares during the last quarter. TD Asset Management Inc boosted its holdings in Trane Technologies by 719.8% in the 4th quarter. TD Asset Management Inc now owns 750,894 shares of the company’s stock valued at $183,143,000 after purchasing an additional 659,299 shares during the last quarter. Putnam Investments LLC grew its stake in shares of Trane Technologies by 27,824.4% in the 4th quarter. Putnam Investments LLC now owns 572,730 shares of the company’s stock valued at $139,689,000 after buying an additional 570,679 shares during the period. Finally, Wellington Management Group LLP raised its position in shares of Trane Technologies by 36.4% during the 3rd quarter. Wellington Management Group LLP now owns 1,639,058 shares of the company’s stock valued at $332,581,000 after buying an additional 436,997 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Price Performance

TT stock opened at $334.12 on Monday. The company has a quick ratio of 0.74, a current ratio of 1.13 and a debt-to-equity ratio of 0.58. Trane Technologies plc has a fifty-two week low of $182.96 and a fifty-two week high of $345.46. The business has a 50 day moving average price of $321.15 and a 200 day moving average price of $287.01. The stock has a market cap of $75.63 billion, a price-to-earnings ratio of 35.70, a PEG ratio of 2.67 and a beta of 1.01.

Trane Technologies (NYSE:TT) last issued its earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.30. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The business had revenue of $4.22 billion during the quarter, compared to analysts’ expectations of $3.99 billion. During the same quarter in the prior year, the business posted $1.41 EPS. The company’s revenue for the quarter was up 15.0% on a year-over-year basis. Equities research analysts anticipate that Trane Technologies plc will post 10.46 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be given a $0.84 dividend. The ex-dividend date is Friday, September 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.01%. Trane Technologies’s dividend payout ratio (DPR) is presently 35.90%.

Insider Buying and Selling

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

Analysts Set New Price Targets

Several brokerages have recently commented on TT. Robert W. Baird upped their price target on Trane Technologies from $315.00 to $344.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Mizuho lifted their price target on shares of Trane Technologies from $280.00 to $325.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. The Goldman Sachs Group upped their price objective on shares of Trane Technologies from $287.00 to $326.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Citigroup lifted their target price on shares of Trane Technologies from $355.00 to $366.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, TD Cowen upped their price target on Trane Technologies from $325.00 to $360.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Trane Technologies presently has a consensus rating of “Hold” and an average price target of $309.79.

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.