International Assets Investment Management LLC Grows Stake in Trane Technologies plc (NYSE:TT)

International Assets Investment Management LLC increased its position in Trane Technologies plc (NYSE:TT) by 7.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,538 shares of the company’s stock after purchasing an additional 297 shares during the period. International Assets Investment Management LLC’s holdings in Trane Technologies were worth $1,346,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in Trane Technologies in the 4th quarter worth approximately $655,804,000. JPMorgan Chase & Co. boosted its position in shares of Trane Technologies by 5.4% during the third 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 increased its holdings in Trane Technologies by 719.8% in the 4th quarter. TD Asset Management Inc now owns 750,894 shares of the company’s stock worth $183,143,000 after buying an additional 659,299 shares in the last quarter. Putnam Investments LLC lifted its stake in Trane Technologies by 27,824.4% during the 4th 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 period. Finally, Wellington Management Group LLP boosted its holdings in shares of Trane Technologies by 36.4% during the 3rd quarter. Wellington Management Group LLP now owns 1,639,058 shares of the company’s stock valued at $332,581,000 after acquiring an additional 436,997 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Trading Down 0.5 %

TT opened at $334.12 on Monday. The firm has a market cap of $75.63 billion, a P/E ratio of 35.70, a P/E/G ratio of 2.67 and a beta of 1.01. The company has a current ratio of 1.13, a quick ratio of 0.74 and a debt-to-equity ratio of 0.58. The stock has a 50-day moving average of $321.15 and a 200 day moving average of $287.01. Trane Technologies plc has a 12 month low of $182.96 and a 12 month high of $345.46.

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

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be issued a $0.84 dividend. The ex-dividend date is Friday, September 6th. This represents a $3.36 annualized dividend and a dividend yield of 1.01%. Trane Technologies’s payout ratio is 35.90%.

Insider Buying and Selling

In other Trane Technologies news, CFO Christopher J. Kuehn sold 4,000 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $318.67, for a total value of $1,274,680.00. Following the transaction, the chief financial officer now owns 61,293 shares of the company’s stock, valued at approximately $19,532,240.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction, the chief financial officer now directly owns 61,293 shares in the company, valued at approximately $19,532,240.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 owns 20,758 shares of the company’s stock, valued at approximately $6,669,545.40. The disclosure for this sale can be found here. 0.38% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have commented on TT. Barclays lifted their target price on shares of Trane Technologies from $354.00 to $380.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 4th. JPMorgan Chase & Co. upped their target price on shares of Trane Technologies from $247.00 to $300.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. TD Cowen upped their price objective on Trane Technologies from $325.00 to $360.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Mizuho raised their target price on Trane Technologies from $280.00 to $325.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Finally, The Goldman Sachs Group boosted their price target on Trane Technologies from $287.00 to $326.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. One research 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price 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.