Mediolanum International Funds Ltd Takes $6.87 Million Position in Trane Technologies plc (NYSE:TT)

Mediolanum International Funds Ltd purchased a new stake in shares of Trane Technologies plc (NYSE:TT) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 22,926 shares of the company’s stock, valued at approximately $6,871,000.

A number of other large investors have also made changes to their positions in the company. GoalVest Advisory LLC increased its stake in Trane Technologies by 157.1% in the 1st quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock valued at $27,000 after buying an additional 55 shares during the period. Dixon Mitchell Investment Counsel Inc. acquired a new position in Trane Technologies in the 1st quarter valued at approximately $27,000. BOK Financial Private Wealth Inc. acquired a new position in Trane Technologies in the 1st quarter valued at approximately $30,000. BKM Wealth Management LLC acquired a new position in Trane Technologies in the 4th quarter valued at approximately $25,000. Finally, Sachetta LLC acquired a new position in Trane Technologies in the 4th quarter valued at approximately $27,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TT. Stephens upped their price objective on shares of Trane Technologies from $310.00 to $320.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 1st. Wells Fargo & Company upped their price objective on shares of Trane Technologies from $295.00 to $310.00 and gave the company an “underweight” rating in a research note on Wednesday. The Goldman Sachs Group increased their price target on shares of Trane Technologies from $287.00 to $326.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. JPMorgan Chase & Co. increased their price target on shares of Trane Technologies from $247.00 to $300.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Finally, Robert W. Baird increased their price target on shares of Trane Technologies from $315.00 to $344.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $310.86.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, CFO Christopher J. Kuehn sold 4,000 shares of the stock in a transaction on 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 completion of the sale, the chief financial officer now directly owns 61,293 shares of the company’s stock, 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 news, SVP Evan M. Turtz sold 8,988 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $321.30, for a total transaction of $2,887,844.40. Following the completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Christopher J. Kuehn sold 4,000 shares of the firm’s stock in a transaction dated 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 directly owns 61,293 shares of the company’s stock, valued at $19,532,240.31. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

Trane Technologies Stock Performance

Shares of NYSE TT traded up $7.31 during trading hours on Wednesday, hitting $341.05. 893,687 shares of the stock were exchanged, compared to its average volume of 1,089,628. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.13 and a quick ratio of 0.74. The company’s 50 day moving average is $329.30 and its 200 day moving average is $294.81. The firm has a market capitalization of $77.20 billion, a P/E ratio of 36.21, a P/E/G ratio of 2.58 and a beta of 1.01. Trane Technologies plc has a one year low of $184.02 and a one year high of $345.46.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.30. The business had revenue of $4.22 billion during the quarter, compared to the consensus estimate of $3.99 billion. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. Trane Technologies’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.41 EPS. On average, research analysts expect that Trane Technologies plc will post 10.48 EPS for the current year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend is Friday, September 6th. Trane Technologies’s dividend payout ratio (DPR) is presently 35.90%.

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.