Tortoise Investment Management LLC Raises Stake in Trane Technologies plc (NYSE:TT)

Tortoise Investment Management LLC increased its stake in shares of Trane Technologies plc (NYSE:TT) by 2,275.0% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 380 shares of the company’s stock after purchasing an additional 364 shares during the period. Tortoise Investment Management LLC’s holdings in Trane Technologies were worth $93,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. BKM Wealth Management LLC bought a new position in Trane Technologies in the 4th quarter worth about $25,000. Motco bought a new position in Trane Technologies in the 4th quarter worth about $27,000. Sachetta LLC bought a new position in Trane Technologies in the 4th quarter worth about $27,000. Ancora Advisors LLC bought a new position in Trane Technologies in the 3rd quarter worth about $40,000. Finally, Gables Capital Management Inc. increased its stake in Trane Technologies by 68.2% in the 4th quarter. Gables Capital Management Inc. now owns 185 shares of the company’s stock worth $45,000 after acquiring an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Evan M. Turtz sold 8,988 shares of the firm’s 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 transaction, the senior vice president now owns 20,758 shares in the company, valued at approximately $6,669,545.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, SVP Evan M. Turtz sold 8,988 shares of the firm’s 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 transaction, the senior vice president now owns 20,758 shares in the company, valued at approximately $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 firm’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 completion of the transaction, the chief financial officer now owns 61,293 shares of the company’s stock, valued at approximately $19,532,240.31. The disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.

Trane Technologies Trading Down 1.2 %

TT traded down $3.93 on Friday, hitting $329.64. 875,965 shares of the company were exchanged, compared to its average volume of 1,068,255. Trane Technologies plc has a 12 month low of $181.46 and a 12 month high of $338.09. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.74 and a current ratio of 1.13. The firm has a fifty day simple moving average of $317.18 and a two-hundred day simple moving average of $282.27. The stock has a market capitalization of $74.61 billion, a PE ratio of 35.22, a price-to-earnings-growth ratio of 2.65 and a beta of 1.01.

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

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend is Friday, September 6th. Trane Technologies’s dividend payout ratio (DPR) is currently 35.90%.

Analysts Set New Price Targets

A number of brokerages have weighed in on TT. UBS Group upped their target price on Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, June 3rd. Stephens increased their price objective on Trane Technologies from $310.00 to $320.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 1st. Robert W. Baird increased their price objective on Trane Technologies from $315.00 to $344.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Barclays increased their price objective on Trane Technologies from $354.00 to $380.00 and gave the company an “overweight” rating in a research report on Tuesday, June 4th. Finally, Mizuho increased their price objective on Trane Technologies from $280.00 to $325.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company 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.