Trane Technologies plc (NYSE:TT) Shares Sold by Boston Trust Walden Corp

Boston Trust Walden Corp cut its holdings in shares of Trane Technologies plc (NYSE:TT) by 18.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,131 shares of the company’s stock after selling 263 shares during the quarter. Boston Trust Walden Corp’s holdings in Trane Technologies were worth $381,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in TT. Norges Bank bought a new stake in Trane Technologies in the fourth quarter valued at about $1,117,816,000. GAMMA Investing LLC increased its holdings in shares of Trane Technologies by 35,458.2% in the 1st quarter. GAMMA Investing LLC now owns 2,015,792 shares of the company’s stock valued at $679,161,000 after acquiring an additional 2,010,123 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Trane Technologies during the 4th quarter valued at approximately $611,322,000. Northern Trust Corp lifted its stake in Trane Technologies by 20.1% during the fourth quarter. Northern Trust Corp now owns 2,567,527 shares of the company’s stock worth $948,316,000 after purchasing an additional 429,953 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Trane Technologies in the fourth quarter worth $147,251,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Hsbc Global Res upgraded shares of Trane Technologies from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 25th. Citigroup raised their target price on shares of Trane Technologies from $415.00 to $445.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. JPMorgan Chase & Co. lifted their target price on Trane Technologies from $334.00 to $400.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. Wells Fargo & Company upped their target price on Trane Technologies from $330.00 to $370.00 and gave the company an “underweight” rating in a report on Thursday, May 1st. Finally, HSBC raised Trane Technologies from a “hold” rating to a “buy” rating and raised their price target for the stock from $405.00 to $415.00 in a report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Trane Technologies has an average rating of “Moderate Buy” and an average target price of $427.47.

Insiders Place Their Bets

In other news, insider Donald E. Simmons sold 3,571 shares of the business’s stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total value of $1,356,980.00. Following the sale, the insider now owns 3,593 shares of the company’s stock, valued at approximately $1,365,340. The trade was a 49.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.38% of the stock is currently owned by insiders.

Trane Technologies Trading Down 0.1%

NYSE:TT opened at $419.25 on Friday. The stock has a market cap of $93.50 billion, a price-to-earnings ratio of 34.88, a PEG ratio of 2.76 and a beta of 1.16. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.74 and a current ratio of 1.09. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $436.61. The business has a fifty day moving average of $401.13 and a 200-day moving average of $377.22.

Trane Technologies (NYSE:TT) last announced its earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $0.25. Trane Technologies had a net margin of 13.47% and a return on equity of 36.10%. The firm had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.46 billion. During the same quarter in the prior year, the firm posted $1.94 EPS. Trane Technologies’s revenue was up 11.2% compared to the same quarter last year. Equities analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be issued a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $3.76 annualized dividend and a yield of 0.90%. Trane Technologies’s payout ratio is 31.28%.

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.