Trane Technologies plc (NYSE:TT) Shares Acquired by Blue Trust Inc.

Blue Trust Inc. boosted its position in shares of Trane Technologies plc (NYSE:TT) by 51.8% in the third quarter, Holdings Channel.com reports. The firm owned 3,870 shares of the company’s stock after acquiring an additional 1,321 shares during the period. Blue Trust Inc.’s holdings in Trane Technologies were worth $1,504,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TT. Swedbank AB acquired a new stake in shares of Trane Technologies during the first quarter valued at about $206,211,000. 1832 Asset Management L.P. boosted its holdings in Trane Technologies by 7,363.1% in the second quarter. 1832 Asset Management L.P. now owns 422,785 shares of the company’s stock valued at $139,067,000 after purchasing an additional 417,120 shares during the last quarter. TD Asset Management Inc grew its stake in Trane Technologies by 41.2% during the 1st quarter. TD Asset Management Inc now owns 1,060,632 shares of the company’s stock valued at $318,402,000 after purchasing an additional 309,738 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in Trane Technologies by 162.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 447,705 shares of the company’s stock worth $147,263,000 after purchasing an additional 277,274 shares during the last quarter. Finally, Sei Investments Co. raised its position in shares of Trane Technologies by 379.2% in the 1st quarter. Sei Investments Co. now owns 306,165 shares of the company’s stock valued at $91,909,000 after purchasing an additional 242,271 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Raymond D. Pittard sold 1,805 shares of Trane Technologies stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total transaction of $593,213.25. Following the sale, the executive vice president now owns 83,517 shares of the company’s stock, valued at approximately $27,447,862.05. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO David S. Regnery sold 29,450 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total value of $9,460,812.50. Following the completion of the transaction, the chief executive officer now owns 132,946 shares in the company, valued at $42,708,902.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Raymond D. Pittard sold 1,805 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total transaction of $593,213.25. Following the transaction, the executive vice president now directly owns 83,517 shares in the company, valued at approximately $27,447,862.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.38% of the stock is owned by insiders.

Trane Technologies Stock Up 0.6 %

Shares of Trane Technologies stock opened at $402.54 on Friday. Trane Technologies plc has a twelve month low of $184.02 and a twelve month high of $406.96. The stock has a market capitalization of $91.12 billion, a price-to-earnings ratio of 43.01, a PEG ratio of 2.75 and a beta of 1.01. The company has a current ratio of 1.17, a quick ratio of 0.84 and a debt-to-equity ratio of 0.62. The business’s 50 day simple moving average is $369.37 and its 200-day simple moving average is $339.50.

Trane Technologies (NYSE:TT) last issued its earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, topping the consensus estimate of $3.08 by $0.22. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The firm had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.13 billion. During the same period last year, the company earned $2.68 earnings per share. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. Equities research analysts forecast that Trane Technologies plc will post 10.88 earnings per share for the current year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date is Friday, December 6th. Trane Technologies’s payout ratio is 35.90%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TT. The Goldman Sachs Group raised their price target on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Stephens reissued an “equal weight” rating and issued a $350.00 target price on shares of Trane Technologies in a research report on Monday, August 5th. Royal Bank of Canada increased their price target on shares of Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 1st. Barclays boosted their price objective on Trane Technologies from $394.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Finally, Robert W. Baird increased their target price on Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Trane Technologies currently has an average rating of “Hold” and a consensus price target of $373.58.

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.