Trane Technologies plc (NYSE:TT) Shares Bought by Rehmann Capital Advisory Group

Rehmann Capital Advisory Group increased its position in Trane Technologies plc (NYSE:TT) by 17.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,090 shares of the company’s stock after buying an additional 162 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Trane Technologies were worth $403,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of TT. Norges Bank bought a new position in shares of Trane Technologies during the 4th quarter valued at about $1,117,816,000. Raymond James Financial Inc. bought a new stake in Trane Technologies during the fourth quarter worth approximately $611,322,000. Northern Trust Corp grew its position in Trane Technologies by 20.1% in the fourth quarter. Northern Trust Corp now owns 2,567,527 shares of the company’s stock worth $948,316,000 after buying an additional 429,953 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of Trane Technologies by 455.2% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 427,226 shares of the company’s stock valued at $167,977,000 after buying an additional 350,277 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of Trane Technologies by 42.9% during the 4th quarter. Nordea Investment Management AB now owns 978,275 shares of the company’s stock valued at $361,874,000 after acquiring an additional 293,916 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Insiders Place Their Bets

In related news, CEO David S. Regnery sold 2,754 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total transaction of $984,114.36. Following the completion of the sale, the chief executive officer now directly owns 132,969 shares of the company’s stock, valued at approximately $47,515,142.46. This represents a 2.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Donald E. Simmons sold 3,571 shares of Trane Technologies stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the completion of the transaction, the insider now owns 3,593 shares in the company, valued at $1,365,340. This trade represents a 49.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,805 shares of company stock valued at $3,945,082 over the last three months. 0.38% of the stock is currently owned by insiders.

Trane Technologies Stock Up 1.8 %

TT opened at $399.68 on Friday. The company has a market capitalization of $89.64 billion, a PE ratio of 35.53, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $422.00. The business has a 50-day moving average of $344.26 and a 200-day moving average of $372.20.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.25. The firm had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.46 billion. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.94 earnings per share. Equities research analysts forecast that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend is Friday, June 6th. Trane Technologies’s dividend payout ratio is presently 33.42%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. boosted their target price on Trane Technologies from $323.00 to $334.00 and gave the stock a “neutral” rating in a research report on Thursday. Wells Fargo & Company boosted their price objective on Trane Technologies from $330.00 to $370.00 and gave the stock an “underweight” rating in a report on Thursday. Royal Bank of Canada raised their target price on shares of Trane Technologies from $363.00 to $408.00 and gave the stock a “sector perform” rating in a report on Thursday. Stephens upgraded shares of Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 price target on the stock in a report on Thursday. Finally, Citigroup raised their price objective on shares of Trane Technologies from $415.00 to $445.00 and gave the stock a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Trane Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $421.07.

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.