Trane Technologies plc (NYSE:TT) Shares Purchased by Bremer Bank National Association

Bremer Bank National Association increased its position in shares of Trane Technologies plc (NYSE:TT) by 3.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,369 shares of the company’s stock after acquiring an additional 570 shares during the period. Trane Technologies makes up about 1.2% of Bremer Bank National Association’s investment portfolio, making the stock its 24th largest position. Bremer Bank National Association’s holdings in Trane Technologies were worth $6,371,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Empowered Funds LLC increased its stake in Trane Technologies by 138.0% in the 1st quarter. Empowered Funds LLC now owns 6,667 shares of the company’s stock worth $2,001,000 after purchasing an additional 3,866 shares in the last quarter. Nordea Investment Management AB increased its stake in Trane Technologies by 3.0% in the 1st quarter. Nordea Investment Management AB now owns 453,212 shares of the company’s stock worth $135,796,000 after purchasing an additional 13,078 shares in the last quarter. Sei Investments Co. increased its stake in Trane Technologies by 379.2% in the 1st quarter. Sei Investments Co. now owns 306,165 shares of the company’s stock worth $91,909,000 after purchasing an additional 242,271 shares in the last quarter. GSA Capital Partners LLP purchased a new position in Trane Technologies in the 4th quarter worth about $3,086,000. Finally, Capital World Investors increased its stake in 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 purchasing an additional 11,930 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Price Performance

TT stock traded up $6.32 during trading on Wednesday, hitting $345.72. The company had a trading volume of 1,105,920 shares, compared to its average volume of 1,134,726. The company has a fifty day moving average price of $331.90 and a two-hundred day moving average price of $310.18. The company has a current ratio of 1.17, a quick ratio of 0.74 and a debt-to-equity ratio of 0.62. The company has a market cap of $78.25 billion, a P/E ratio of 36.26, a P/E/G ratio of 2.50 and a beta of 1.01. Trane Technologies plc has a fifty-two week low of $184.02 and a fifty-two week high of $351.41.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, beating the consensus estimate of $3.08 by $0.22. The business had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.13 billion. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. Trane Technologies’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.68 EPS. Equities research analysts expect that Trane Technologies plc will post 10.83 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently disclosed 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 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend is Friday, September 6th. Trane Technologies’s dividend payout ratio (DPR) is presently 35.90%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. raised their price objective on Trane Technologies from $247.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Wells Fargo & Company raised their price objective on Trane Technologies from $310.00 to $315.00 and gave the stock an “underweight” rating in a research report on Thursday, August 1st. Barclays lifted their price target on Trane Technologies from $385.00 to $394.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Robert W. Baird lifted their price target on Trane Technologies from $360.00 to $365.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Finally, Mizuho lifted 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. 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 stock. According to MarketBeat, Trane Technologies currently has an average rating of “Hold” and an average price target of $323.29.

Insiders Place Their Bets

In related news, SVP Evan M. Turtz sold 8,988 shares of the firm’s 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 transaction, the senior vice president now owns 20,758 shares in the company, 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 Trane Technologies news, SVP Evan M. Turtz sold 8,988 shares of the company’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 transaction, the senior vice president now directly owns 20,758 shares in the company, valued at approximately $6,669,545.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 transaction of $1,274,680.00. Following the transaction, the chief financial officer now owns 61,293 shares in the company, valued at $19,532,240.31. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,243 shares of company stock valued at $14,216,550. 0.38% of the stock is currently owned by corporate insiders.

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.