Northwest Investment Counselors LLC Buys New Position in Trane Technologies plc (NYSE:TT)

Northwest Investment Counselors LLC bought a new stake in shares of Trane Technologies plc (NYSE:TT) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 325 shares of the company’s stock, valued at approximately $98,000.

Other hedge funds have also recently added to or reduced their stakes in the company. GSA Capital Partners LLP bought a new stake in Trane Technologies during the 4th quarter valued at approximately $3,086,000. Wellington Management Group LLP lifted its position in shares of Trane Technologies by 36.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,639,058 shares of the company’s stock worth $332,581,000 after acquiring an additional 436,997 shares during the period. Capital World Investors lifted its position in shares of Trane Technologies by 0.6% in the 4th quarter. Capital World Investors now owns 2,176,595 shares of the company’s stock worth $530,870,000 after acquiring an additional 11,930 shares during the period. Stifel Financial Corp lifted its position in shares of Trane Technologies by 26.8% in the 4th quarter. Stifel Financial Corp now owns 99,611 shares of the company’s stock worth $24,295,000 after acquiring an additional 21,040 shares during the period. Finally, Schroder Investment Management Group lifted its position in shares of Trane Technologies by 11.9% during the 4th quarter. Schroder Investment Management Group now owns 322,994 shares of the company’s stock worth $78,778,000 after buying an additional 34,243 shares during the period. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Performance

TT stock opened at $338.14 on Tuesday. The firm has a market cap of $76.54 billion, a PE ratio of 36.13, a P/E/G ratio of 2.66 and a beta of 1.01. The business’s 50-day moving average price is $322.03 and its two-hundred day moving average price is $287.77. Trane Technologies plc has a 1-year low of $184.02 and a 1-year high of $345.46. The company has a current ratio of 1.13, a quick ratio of 0.74 and a debt-to-equity ratio of 0.58.

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

Trane Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date is Friday, September 6th. Trane Technologies’s dividend payout ratio is currently 35.90%.

Analyst Ratings Changes

TT has been the subject of several analyst reports. The Goldman Sachs Group raised their target price on Trane Technologies from $287.00 to $326.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Robert W. Baird raised their price target on Trane Technologies from $315.00 to $344.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Mizuho raised their price target on Trane Technologies from $280.00 to $325.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Wells Fargo & Company raised their price target on Trane Technologies from $281.00 to $295.00 and gave the company an “underweight” rating in a report on Thursday, May 2nd. Finally, Stephens lifted 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 analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, Trane Technologies presently has a consensus rating of “Hold” and an average target price of $309.79.

Insider Activity at Trane Technologies

In related news, SVP Evan M. Turtz sold 8,988 shares of Trane Technologies stock in a transaction dated 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 sale, the senior vice president now owns 20,758 shares of the company’s stock, valued at $6,669,545.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO Christopher J. Kuehn sold 4,000 shares of the company’s stock in a transaction that occurred 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 $19,532,240.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Evan M. Turtz sold 8,988 shares of the company’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 transaction, the senior vice president now directly owns 20,758 shares in the company, valued at approximately $6,669,545.40. The disclosure for this sale can be found here. 0.38% of the stock is owned by company insiders.

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.