Trane Technologies plc (NYSE:TT) Position Increased by 1832 Asset Management L.P.

1832 Asset Management L.P. increased its stake in Trane Technologies plc (NYSE:TT) by 21.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,665 shares of the company’s stock after purchasing an additional 1,004 shares during the period. 1832 Asset Management L.P.’s holdings in Trane Technologies were worth $1,701,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Motco acquired a new stake in shares of 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. GoalVest Advisory LLC increased its stake in shares of Trane Technologies by 157.1% in the first quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock valued at $27,000 after purchasing an additional 55 shares during the period. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of Trane Technologies during the first quarter valued at approximately $27,000. Finally, BOK Financial Private Wealth Inc. acquired a new position in shares of Trane Technologies during the first quarter worth approximately $30,000. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Stock Up 2.3 %

Trane Technologies stock traded up $7.49 during trading hours on Friday, hitting $329.71. The company had a trading volume of 1,232,284 shares, compared to its average volume of 1,436,565. The firm’s fifty day moving average is $332.14 and its 200-day moving average is $303.06. The firm has a market capitalization of $74.63 billion, a P/E ratio of 35.23, a price-to-earnings-growth ratio of 2.55 and a beta of 1.01. Trane Technologies plc has a fifty-two week low of $184.02 and a fifty-two week high of $347.33. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.13 and a quick ratio of 0.74.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $1.94 earnings per share (EPS) 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 analyst estimates of $3.99 billion. During the same period last year, the company earned $1.41 earnings per share. Trane Technologies’s quarterly revenue was up 15.0% compared to the same quarter last year. On average, research analysts forecast that Trane Technologies plc will post 10.49 earnings per share for the current year.

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be paid a $0.84 dividend. The ex-dividend date is Friday, September 6th. This represents a $3.36 annualized dividend and a dividend yield of 1.02%. Trane Technologies’s payout ratio is 35.90%.

Insider Buying and Selling

In other Trane Technologies news, SVP Evan M. Turtz sold 8,988 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the senior vice president now directly owns 20,758 shares of the company’s stock, valued at $6,669,545.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Christopher J. Kuehn sold 4,000 shares of the business’s stock in a transaction 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 sale, the chief financial officer now directly owns 61,293 shares in the company, valued at $19,532,240.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Evan M. Turtz sold 8,988 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $321.30, for a total transaction of $2,887,844.40. Following the sale, the senior vice president now directly owns 20,758 shares of the company’s stock, valued at $6,669,545.40. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

TT has been the topic of a number of research analyst reports. Robert W. Baird raised their price target on Trane Technologies from $344.00 to $360.00 and gave the company a “neutral” rating in a report on Monday, July 15th. JPMorgan Chase & Co. boosted their price objective on Trane Technologies from $247.00 to $300.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. The Goldman Sachs Group raised their target price on Trane Technologies from $287.00 to $326.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Citigroup upped their price target on shares of Trane Technologies from $355.00 to $366.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, Wells Fargo & Company raised their price objective on shares of Trane Technologies from $295.00 to $310.00 and gave the company an “underweight” rating in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $312.36.

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.