Trane Technologies plc (NYSE:TT) Stock Position Lifted by Strategic Blueprint LLC

Strategic Blueprint LLC boosted its stake in shares of Trane Technologies plc (NYSE:TT) by 11.1% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 620 shares of the company’s stock after purchasing an additional 62 shares during the period. Strategic Blueprint LLC’s holdings in Trane Technologies were worth $209,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Trane Technologies by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 19,235,570 shares of the company’s stock valued at $7,104,658,000 after purchasing an additional 152,353 shares in the last quarter. Geode Capital Management LLC grew its position in Trane Technologies by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 4,775,263 shares of the company’s stock worth $1,760,549,000 after acquiring an additional 136,349 shares in the last quarter. Ameriprise Financial Inc. grew its position in Trane Technologies by 4.1% in the fourth quarter. Ameriprise Financial Inc. now owns 3,343,390 shares of the company’s stock worth $1,234,908,000 after acquiring an additional 130,867 shares in the last quarter. Norges Bank bought a new stake in Trane Technologies in the fourth quarter worth approximately $1,117,816,000. Finally, 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 acquiring an additional 429,953 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Donald E. Simmons sold 3,571 shares of Trane Technologies stock in a transaction dated 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 completion of the transaction, the insider directly owned 3,593 shares of the company’s stock, valued at $1,365,340. The trade was a 49.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.38% of the stock is owned by corporate insiders.

Trane Technologies Price Performance

Shares of Trane Technologies stock opened at $426.68 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.74 and a current ratio of 1.09. The firm’s 50-day simple moving average is $423.41 and its 200-day simple moving average is $380.01. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $438.95. The firm has a market cap of $95.16 billion, a P/E ratio of 35.50, a price-to-earnings-growth ratio of 2.86 and a beta of 1.15.

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, topping analysts’ consensus estimates of $2.20 by $0.25. The business had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.46 billion. Trane Technologies had a net margin of 13.47% and a return on equity of 36.10%. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter last year, the company posted $1.94 EPS. As a group, research analysts expect that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.88%. Trane Technologies’s dividend payout ratio (DPR) is presently 31.28%.

Analysts Set New Price Targets

Several analysts recently issued reports on TT shares. Citigroup upped their price objective 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. Hsbc Global Res raised shares of Trane Technologies from a “hold” rating to a “strong-buy” rating in a report on Friday, April 25th. Royal Bank Of Canada upped their price objective on shares of Trane Technologies from $363.00 to $408.00 and gave the stock a “sector perform” rating in a report on Thursday, May 1st. HSBC raised shares of Trane Technologies from a “hold” rating to a “buy” rating and upped their price objective for the stock from $405.00 to $415.00 in a report on Friday, April 25th. Finally, The Goldman Sachs Group upped their price objective on shares of Trane Technologies from $416.00 to $460.00 and gave the stock a “neutral” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $433.67.

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.