Rise Advisors LLC Buys 120 Shares of Trane Technologies plc (NYSE:TT)

Rise Advisors LLC raised its stake in Trane Technologies plc (NYSE:TT) by 235.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 171 shares of the company’s stock after buying an additional 120 shares during the period. Rise Advisors LLC’s holdings in Trane Technologies were worth $51,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Norges Bank bought a new position in Trane Technologies in the fourth quarter valued at $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 worth $252,296,000 after purchasing an additional 1,030,247 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Trane Technologies by 5.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,085,662 shares of the company’s stock valued at $3,466,852,000 after purchasing an additional 880,583 shares during the last quarter. TD Asset Management Inc raised its holdings in shares of Trane Technologies by 719.8% during the 4th quarter. TD Asset Management Inc now owns 750,894 shares of the company’s stock valued at $183,143,000 after buying 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 4th quarter. Putnam Investments LLC now owns 572,730 shares of the company’s stock worth $139,689,000 after buying an additional 570,679 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Performance

NYSE:TT opened at $335.93 on Friday. The company has a quick ratio of 0.74, a current ratio of 1.13 and a debt-to-equity ratio of 0.58. The firm’s fifty day simple moving average is $320.40 and its 200 day simple moving average is $285.49. The stock has a market cap of $76.04 billion, a P/E ratio of 35.89, a price-to-earnings-growth ratio of 2.75 and a beta of 1.01. Trane Technologies plc has a twelve month low of $182.96 and a twelve month high of $345.46.

Trane Technologies (NYSE:TT) last announced its earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.30. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The firm had revenue of $4.22 billion for the quarter, compared to analyst estimates of $3.99 billion. During the same quarter in the previous year, the firm posted $1.41 EPS. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. As a group, research analysts predict that Trane Technologies plc will post 10.46 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend is Friday, September 6th. Trane Technologies’s dividend payout ratio is currently 35.90%.

Insider Activity

In other Trane Technologies news, SVP Evan M. Turtz sold 8,988 shares of the stock in a transaction 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 $6,669,545.40. The transaction was disclosed in a filing with the SEC, which is available 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 sale, the senior vice president now owns 20,758 shares in the company, valued at $6,669,545.40. The sale was disclosed in a filing with the SEC, which is available through 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 transaction of $1,274,680.00. Following the transaction, the chief financial officer now directly 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. 0.38% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Robert W. Baird increased their price target on shares of Trane Technologies from $315.00 to $344.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. The Goldman Sachs Group lifted their target price on shares of Trane Technologies from $287.00 to $326.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Barclays boosted their price target on shares of Trane Technologies from $354.00 to $380.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 4th. Wells Fargo & Company raised their price objective on Trane Technologies from $281.00 to $295.00 and gave the company an “underweight” rating in a research note on Thursday, May 2nd. Finally, Stephens boosted their target price on Trane Technologies from $310.00 to $320.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $309.79.

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.