GoalVest Advisory LLC Raises Stock Holdings in Trane Technologies plc (NYSE:TT)

GoalVest Advisory LLC grew its stake in Trane Technologies plc (NYSE:TT) by 157.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 90 shares of the company’s stock after acquiring an additional 55 shares during the quarter. GoalVest Advisory LLC’s holdings in Trane Technologies were worth $27,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. lifted its position in Trane Technologies by 5.4% during the third quarter. JPMorgan Chase & Co. now owns 17,085,662 shares of the company’s stock worth $3,466,852,000 after buying an additional 880,583 shares during the period. Ameriprise Financial Inc. lifted its position in Trane Technologies by 2.6% during the third quarter. Ameriprise Financial Inc. now owns 4,050,779 shares of the company’s stock worth $821,952,000 after buying an additional 103,823 shares during the period. Morgan Stanley lifted its position in Trane Technologies by 0.6% during the third quarter. Morgan Stanley now owns 2,797,382 shares of the company’s stock worth $567,617,000 after buying an additional 17,758 shares during the period. Norges Bank purchased a new position in Trane Technologies during the fourth quarter worth about $655,804,000. Finally, Capital World Investors lifted its position in Trane Technologies by 0.6% during the fourth quarter. Capital World Investors now owns 2,176,595 shares of the company’s stock worth $530,870,000 after buying an additional 11,930 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TT has been the topic of several recent analyst reports. The Goldman Sachs Group increased 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. UBS Group increased their target price on Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, June 3rd. Stephens upped their price target on Trane Technologies from $310.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 1st. Mizuho upped their price target on Trane Technologies from $280.00 to $325.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Finally, Barclays upped their price target on Trane Technologies from $354.00 to $380.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $309.79.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, CFO Christopher J. Kuehn sold 4,000 shares of the firm’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 transaction of $1,274,680.00. Following the completion of the sale, the chief financial officer now owns 61,293 shares in the company, valued at approximately $19,532,240.31. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Trane Technologies news, CFO Christopher J. Kuehn sold 4,000 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 61,293 shares of the company’s stock, valued at approximately $19,532,240.31. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Evan M. Turtz sold 8,988 shares of the stock in a transaction that occurred 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 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 insiders.

Trane Technologies Price Performance

TT stock opened at $329.43 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.74 and a current ratio of 1.13. Trane Technologies plc has a 1 year low of $184.02 and a 1 year high of $345.46. The firm has a market cap of $74.57 billion, a P/E ratio of 35.20, a price-to-earnings-growth ratio of 2.67 and a beta of 1.01. The stock has a 50-day simple moving average of $322.83 and a 200-day simple moving average of $288.48.

Trane Technologies (NYSE:TT) last posted its earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share (EPS) for the quarter, beating 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 business had revenue of $4.22 billion during the quarter, compared to analyst estimates of $3.99 billion. During the same quarter last year, the firm earned $1.41 earnings per share. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. On average, equities analysts predict that Trane Technologies plc will post 10.46 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be paid a dividend of $0.84 per share. The ex-dividend date is Friday, September 6th. This represents a $3.36 dividend on an annualized basis and a yield of 1.02%. Trane Technologies’s dividend payout ratio (DPR) is presently 35.90%.

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.