Mutual Advisors LLC Boosts Stock Holdings in Trane Technologies plc (NYSE:TT)

Mutual Advisors LLC boosted its stake in shares of Trane Technologies plc (NYSE:TT) by 118.4% in the 1st quarter, HoldingsChannel.com reports. The fund owned 1,151 shares of the company’s stock after buying an additional 624 shares during the period. Mutual Advisors LLC’s holdings in Trane Technologies were worth $401,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Trane Technologies by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 19,235,570 shares of the company’s stock worth $7,104,658,000 after buying an additional 152,353 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Trane Technologies by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 4,775,263 shares of the company’s stock worth $1,760,549,000 after buying an additional 136,349 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Trane Technologies by 4.1% in the 4th quarter. Ameriprise Financial Inc. now owns 3,343,390 shares of the company’s stock worth $1,234,908,000 after buying an additional 130,867 shares in the last quarter. Norges Bank purchased a new position in shares of Trane Technologies in the 4th quarter worth $1,117,816,000. Finally, Northern Trust Corp grew its stake in shares of Trane Technologies by 20.1% in the 4th quarter. Northern Trust Corp now owns 2,567,527 shares of the company’s stock worth $948,316,000 after buying an additional 429,953 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TT. Royal Bank Of Canada lifted their price objective on shares of Trane Technologies from $363.00 to $408.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 1st. The Goldman Sachs Group raised their target price on shares of Trane Technologies from $416.00 to $460.00 and gave the stock a “neutral” rating in a report on Tuesday. HSBC upgraded shares of Trane Technologies from a “hold” rating to a “buy” rating and raised their target price for the stock from $405.00 to $415.00 in a report on Friday, April 25th. UBS Group raised their target price on shares of Trane Technologies from $470.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, May 22nd. Finally, Stephens upgraded shares of Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 target price for the company in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Trane Technologies currently has an average rating of “Moderate Buy” and an average target price of $433.67.

Trane Technologies Trading Down 1.8%

NYSE:TT opened at $426.68 on Wednesday. The firm has a 50-day simple moving average of $423.41 and a 200-day simple moving average of $380.01. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.74 and a current ratio of 1.09. Trane Technologies plc has a one year low of $298.15 and a one year high of $438.95. The firm has a market cap of $95.16 billion, a P/E ratio of 35.50, a P/E/G ratio of 2.86 and a beta of 1.15.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $0.25. Trane Technologies had a net margin of 13.47% and a return on equity of 36.10%. The firm had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.46 billion. During the same quarter in the previous year, the firm earned $1.94 EPS. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. Equities analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 0.88%. The ex-dividend date is Friday, September 5th. Trane Technologies’s dividend payout ratio is presently 31.28%.

Insiders Place Their Bets

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the business’s stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the sale, the insider owned 3,593 shares of the company’s stock, valued at approximately $1,365,340. The trade was a 49.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.38% of the company’s stock.

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.