Ballentine Partners LLC Acquires 111 Shares of Trane Technologies plc (NYSE:TT)

Ballentine Partners LLC boosted its holdings in Trane Technologies plc (NYSE:TT) by 5.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,997 shares of the company’s stock after purchasing an additional 111 shares during the period. Ballentine Partners LLC’s holdings in Trane Technologies were worth $599,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. Keel Point LLC grew its position in Trane Technologies by 3.0% in the fourth quarter. Keel Point LLC now owns 1,326 shares of the company’s stock valued at $323,000 after purchasing an additional 39 shares in the last quarter. Rosenberg Matthew Hamilton lifted its stake in Trane Technologies by 27.2% in the fourth quarter. Rosenberg Matthew Hamilton now owns 192 shares of the company’s stock valued at $47,000 after acquiring an additional 41 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in Trane Technologies by 2.3% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,847 shares of the company’s stock valued at $450,000 after acquiring an additional 42 shares during the last quarter. Level Four Advisory Services LLC lifted its stake in Trane Technologies by 1.5% in the fourth quarter. Level Four Advisory Services LLC now owns 2,757 shares of the company’s stock valued at $672,000 after acquiring an additional 42 shares during the last quarter. Finally, Cedrus LLC lifted its stake in Trane Technologies by 2.6% in the fourth quarter. Cedrus LLC now owns 1,669 shares of the company’s stock valued at $407,000 after acquiring an additional 43 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Insider Transactions at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 4,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 61,293 shares in the company, valued at approximately $19,532,240.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Evan M. Turtz sold 8,988 shares of the business’s stock in a transaction dated 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 approximately $6,669,545.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Christopher J. Kuehn sold 4,000 shares of the stock in a transaction that occurred on Tuesday, June 4th. The stock was 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. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Trading Up 1.3 %

NYSE:TT traded up $4.47 during mid-day trading on Monday, hitting $338.59. 74,739 shares of the company’s stock were exchanged, compared to its average volume of 1,042,040. The company has a 50 day simple moving average of $321.15 and a 200-day simple moving average of $287.01. 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 plc has a fifty-two week low of $184.02 and a fifty-two week high of $345.46. The firm has a market capitalization of $76.64 billion, a P/E ratio of 36.17, a PEG ratio of 2.67 and a beta of 1.01.

Trane Technologies (NYSE:TT) last posted its earnings results 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 net margin of 11.81% and a return on equity of 32.78%. The business had revenue of $4.22 billion for the quarter, compared to the consensus estimate of $3.99 billion. During the same period last year, the company earned $1.41 EPS. The firm’s revenue was up 15.0% compared to the same quarter last year. As a group, research analysts expect that Trane Technologies plc will post 10.46 earnings per share for the current year.

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders 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 0.99%. Trane Technologies’s dividend payout ratio (DPR) is currently 35.90%.

Analyst Ratings Changes

A number of analysts have commented on the stock. UBS Group increased their price target on shares of Trane Technologies from $330.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, June 3rd. Wells Fargo & Company raised their target price on shares of Trane Technologies from $281.00 to $295.00 and gave the stock an “underweight” rating in a research note on Thursday, May 2nd. Citigroup raised their target price on shares of Trane Technologies from $355.00 to $366.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. The Goldman Sachs Group raised their target price on shares of Trane Technologies from $287.00 to $326.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Finally, Stephens raised their price target on shares of Trane Technologies from $310.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $309.79.

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.