Trane Technologies plc (NYSE:TT) Shares Purchased by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC grew its holdings in Trane Technologies plc (NYSE:TT) by 6.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,529 shares of the company’s stock after acquiring an additional 275 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Trane Technologies were worth $1,360,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Norges Bank acquired a new position in shares of Trane Technologies during the 4th quarter worth about $655,804,000. International Assets Investment Management LLC boosted its holdings in shares of Trane Technologies by 24,670.7% in the 4th quarter. International Assets Investment Management LLC now owns 1,034,423 shares of the company’s stock valued at $252,296,000 after buying an additional 1,030,247 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Trane Technologies by 5.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 17,085,662 shares of the company’s stock valued at $3,466,852,000 after buying an additional 880,583 shares during the last quarter. TD Asset Management Inc raised its stake in Trane Technologies by 719.8% during the 4th quarter. TD Asset Management Inc now owns 750,894 shares of the company’s stock worth $183,143,000 after acquiring an additional 659,299 shares in the last quarter. Finally, Putnam Investments LLC lifted its position in Trane Technologies by 27,824.4% in the fourth quarter. Putnam Investments LLC now owns 572,730 shares of the company’s stock valued at $139,689,000 after acquiring an additional 570,679 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Robert W. Baird boosted their target price on Trane Technologies from $315.00 to $344.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. UBS Group increased their price target on shares of Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, June 3rd. Stephens lifted their price objective on shares of Trane Technologies from $310.00 to $320.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 1st. Citigroup increased 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. Finally, Wells Fargo & Company raised their price target on Trane Technologies from $281.00 to $295.00 and gave the stock an “underweight” rating in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Trane Technologies currently has an average rating of “Hold” and an average price target of $309.79.

Trane Technologies Price Performance

Shares of NYSE TT traded down $4.72 during trading on Friday, hitting $328.93. 5,350,874 shares of the company were exchanged, compared to its average volume of 1,084,990. The firm’s fifty day moving average price is $324.44 and its 200 day moving average price is $289.08. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.13 and a quick ratio of 0.74. The company has a market cap of $74.45 billion, a price-to-earnings ratio of 35.09, a PEG ratio of 2.62 and a beta of 1.01. Trane Technologies plc has a 1 year low of $184.02 and a 1 year high of $345.46.

Trane Technologies (NYSE:TT) last issued its earnings results 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 net margin of 11.81% and a return on equity of 32.78%. The company had revenue of $4.22 billion for the quarter, compared to analyst estimates of $3.99 billion. During the same period in the prior year, the business posted $1.41 earnings per share. The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. On average, sell-side analysts expect that Trane Technologies plc will post 10.46 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently announced 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 35.90%.

Insider Activity

In other Trane Technologies news, CFO Christopher J. Kuehn sold 4,000 shares of the company’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 sale, the chief financial officer now owns 61,293 shares of the company’s stock, valued at $19,532,240.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Trane Technologies news, SVP Evan M. Turtz sold 8,988 shares of the company’s stock in a transaction dated 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 approximately $6,669,545.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Christopher J. Kuehn sold 4,000 shares of Trane Technologies stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $318.67, for a total transaction of $1,274,680.00. Following the sale, the chief financial officer now owns 61,293 shares of the company’s stock, valued at $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 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.