Ninety One SA PTY Ltd Buys 690 Shares of Trane Technologies plc (NYSE:TT)

Ninety One SA PTY Ltd lifted its stake in Trane Technologies plc (NYSE:TT) by 113.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,297 shares of the company’s stock after purchasing an additional 690 shares during the quarter. Ninety One SA PTY Ltd’s holdings in Trane Technologies were worth $432,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. CWA Asset Management Group LLC boosted its position in shares of Trane Technologies by 19.2% in the 1st quarter. CWA Asset Management Group LLC now owns 1,135 shares of the company’s stock worth $382,000 after purchasing an additional 183 shares in the last quarter. Ethic Inc. raised its holdings in Trane Technologies by 150.1% in the 4th quarter. Ethic Inc. now owns 24,883 shares of the company’s stock worth $9,190,000 after acquiring an additional 14,932 shares during the last quarter. Proficio Capital Partners LLC raised its holdings in Trane Technologies by 28.3% in the 4th quarter. Proficio Capital Partners LLC now owns 685 shares of the company’s stock worth $253,000 after acquiring an additional 151 shares during the last quarter. Brighton Jones LLC raised its holdings in Trane Technologies by 60.0% in the 4th quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock worth $2,288,000 after acquiring an additional 2,323 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its holdings in Trane Technologies by 495.5% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,252 shares of the company’s stock worth $1,433,000 after acquiring an additional 3,538 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. HSBC upgraded shares of Trane Technologies from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $405.00 to $415.00 in a report on Friday, April 25th. Citigroup boosted their target price on shares of Trane Technologies from $415.00 to $445.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Royal Bank Of Canada boosted their target price on shares of Trane Technologies from $363.00 to $408.00 and gave the company a “sector perform” rating in a research note on Thursday, May 1st. Wells Fargo & Company boosted their target price on shares of Trane Technologies from $370.00 to $410.00 and gave the company an “underweight” rating in a research note on Tuesday, July 1st. Finally, UBS Group boosted their target price on shares of Trane Technologies from $470.00 to $500.00 and gave the company a “buy” rating in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $430.13.

Trane Technologies Trading Down 0.7%

NYSE:TT opened at $434.11 on Tuesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.09 and a quick ratio of 0.74. The firm has a market capitalization of $96.82 billion, a price-to-earnings ratio of 36.12, a price-to-earnings-growth ratio of 2.88 and a beta of 1.15. Trane Technologies plc has a one year low of $298.15 and a one year high of $438.95. The business has a fifty day moving average price of $421.95 and a 200-day moving average price of $379.68.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.20 by $0.25. The firm had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.46 billion. Trane Technologies had a return on equity of 36.10% and a net margin of 13.47%. Trane Technologies’s revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.94 EPS. Sell-side analysts forecast that Trane Technologies plc will post 12.83 EPS 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 $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 0.87%. The ex-dividend date is Friday, September 5th. Trane Technologies’s dividend payout ratio is currently 31.28%.

Insiders Place Their Bets

In related news, insider Donald E. Simmons sold 3,571 shares of the company’s stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total value of $1,356,980.00. Following the completion of the transaction, the insider owned 3,593 shares of the company’s stock, valued at approximately $1,365,340. This represents a 49.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.38% of the company’s stock.

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.