Massachusetts Wealth Management Has $1.88 Million Stock Position in Trane Technologies plc (NYSE:TT)

Massachusetts Wealth Management increased its position in Trane Technologies plc (NYSE:TT) by 4.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,270 shares of the company’s stock after purchasing an additional 275 shares during the quarter. Massachusetts Wealth Management’s holdings in Trane Technologies were worth $1,882,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GSA Capital Partners LLP acquired a new stake in Trane Technologies in the fourth quarter worth about $3,086,000. Wellington Management Group LLP grew its position 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 worth $332,581,000 after buying an additional 436,997 shares during the period. Capital World Investors grew its position in shares of Trane Technologies by 0.6% during the 4th 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. Stifel Financial Corp grew its position in shares of Trane Technologies by 26.8% during the 4th quarter. Stifel Financial Corp now owns 99,611 shares of the company’s stock worth $24,295,000 after buying an additional 21,040 shares during the period. Finally, Schroder Investment Management Group grew 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. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group boosted 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. Barclays boosted their price objective on Trane Technologies from $354.00 to $380.00 and gave the company an “overweight” rating in a research report on Tuesday, June 4th. Robert W. Baird boosted their price objective on Trane Technologies from $315.00 to $344.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. TD Cowen boosted their price objective on Trane Technologies from $325.00 to $360.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Finally, Stephens boosted their price objective on Trane Technologies from $310.00 to $320.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Trane Technologies presently has a consensus rating of “Hold” and a consensus target price of $309.79.

Insider Activity at Trane Technologies

In related 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 sale, the senior vice president now owns 20,758 shares in the company, valued at approximately $6,669,545.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Trane Technologies news, 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 value of $2,887,844.40. Following the transaction, the senior vice president now directly owns 20,758 shares of the company’s stock, valued at approximately $6,669,545.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Christopher J. Kuehn sold 4,000 shares of the 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 sale, the chief financial officer now directly owns 61,293 shares in the company, valued at $19,532,240.31. The disclosure for this sale can be found here. 0.38% of the stock is owned by company insiders.

Trane Technologies Stock Up 2.0 %

Shares of Trane Technologies stock traded up $6.46 on Thursday, reaching $331.29. 687,786 shares of the company were exchanged, compared to its average volume of 1,478,274. Trane Technologies plc has a one year low of $184.02 and a one year high of $345.46. The company has a market capitalization of $74.99 billion, a price-to-earnings ratio of 35.35, a PEG ratio of 2.52 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 company has a 50-day moving average of $327.14 and a 200 day moving average of $291.89.

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 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 for the quarter, compared to analysts’ expectations of $3.99 billion. During the same quarter in the prior year, the business posted $1.41 EPS. The business’s revenue was up 15.0% compared to the same quarter last year. On average, equities research analysts forecast that Trane Technologies plc will post 10.48 earnings per share for the current year.

Trane Technologies Announces Dividend

The firm 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. This represents a $3.36 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend is Friday, September 6th. 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.