IFG Advisory LLC increased its stake in shares of Trane Technologies plc (NYSE:TT) by 19.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,697 shares of the company’s stock after buying an additional 758 shares during the quarter. IFG Advisory LLC’s holdings in Trane Technologies were worth $777,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of TT. FMR LLC boosted its holdings in shares of Trane Technologies by 52.3% during the 4th quarter. FMR LLC now owns 9,959,508 shares of the company’s stock valued at $1,445,722,000 after acquiring an additional 3,421,200 shares in the last quarter. Norges Bank bought a new position in Trane Technologies during the 4th quarter worth $410,327,000. BlackRock Inc. raised its position in Trane Technologies by 4.7% during the 4th quarter. BlackRock Inc. now owns 17,933,014 shares of the company’s stock worth $2,603,156,000 after purchasing an additional 798,631 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Trane Technologies by 77.4% in the 4th quarter. Janus Henderson Group PLC now owns 1,149,639 shares of the company’s stock worth $166,880,000 after acquiring an additional 501,561 shares in the last quarter. Finally, Federated Hermes Inc. raised its position in shares of Trane Technologies by 19.7% in the 4th quarter. Federated Hermes Inc. now owns 1,857,437 shares of the company’s stock worth $269,625,000 after acquiring an additional 306,090 shares in the last quarter. 79.85% of the stock is currently owned by institutional investors and hedge funds.
In other news, EVP Marcia J. Avedon sold 2,737 shares of the stock in a transaction that occurred on Tuesday, February 9th. The shares were sold at an average price of $147.16, for a total transaction of $402,776.92. Also, SVP Keith A. Sultana sold 4,914 shares of the stock in a transaction that occurred on Friday, February 5th. The shares were sold at an average price of $150.32, for a total transaction of $738,672.48. Following the sale, the senior vice president now owns 16,561 shares in the company, valued at approximately $2,489,449.52. The disclosure for this sale can be found here. 0.92% of the stock is currently owned by company insiders.
Trane Technologies (NYSE:TT) last released its quarterly earnings results on Thursday, February 4th. The company reported $1.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.11. Trane Technologies had a net margin of 6.75% and a return on equity of 18.42%. The company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. Trane Technologies’s revenue was down .2% on a year-over-year basis. On average, equities research analysts expect that Trane Technologies plc will post 4.29 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 30th. Shareholders of record on Friday, June 4th will be paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend is Thursday, June 3rd. Trane Technologies’s dividend payout ratio is 37.05%.
A number of brokerages recently commented on TT. Morgan Stanley boosted their target price on Trane Technologies from $168.00 to $187.00 and gave the company an “overweight” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft boosted their target price on Trane Technologies from $150.00 to $157.00 and gave the stock a “hold” rating in a research note on Monday. Royal Bank of Canada boosted their target price on Trane Technologies from $137.00 to $145.00 and gave the stock a “sector perform” rating in a research note on Monday, February 8th. They noted that the move was a valuation call. Zacks Investment Research cut shares of Trane Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, April 13th. Finally, Jefferies Financial Group boosted their target price on shares of Trane Technologies from $140.00 to $160.00 and gave the company a “hold” rating in a report on Friday, January 15th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company’s stock. Trane Technologies presently has a consensus rating of “Hold” and an average target price of $143.63.
Trane Technologies Profile
Trane Technologies Plc engages in the provision of products, services, and solutions to enhance the quality, energy, and comfort of air in homes and buildings, transport and protect food and perishables and increase industrial productivity and efficiency. It operates through the following segments: Americas, EMEA, and Asia Pacific.
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