Taylor Financial Group Inc. Purchases New Shares in Trane Technologies plc (NYSE:TT)

Taylor Financial Group Inc. purchased a new stake in shares of Trane Technologies plc (NYSE:TT) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,552 shares of the company’s stock, valued at approximately $379,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TT. Tocqueville Asset Management L.P. increased its holdings in Trane Technologies by 1.3% during the 3rd quarter. Tocqueville Asset Management L.P. now owns 5,015 shares of the company’s stock valued at $1,018,000 after purchasing an additional 65 shares in the last quarter. Loomis Sayles & Co. L P boosted its position in Trane Technologies by 55.5% in the 3rd quarter. Loomis Sayles & Co. L P now owns 335,904 shares of the company’s stock valued at $68,158,000 after buying an additional 119,932 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Trane Technologies by 3.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 348,801 shares of the company’s stock valued at $70,775,000 after buying an additional 10,273 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its position in Trane Technologies by 31.8% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 441,080 shares of the company’s stock valued at $90,008,000 after buying an additional 106,523 shares during the last quarter. Finally, Kestra Advisory Services LLC boosted its position in Trane Technologies by 0.6% in the 3rd quarter. Kestra Advisory Services LLC now owns 17,581 shares of the company’s stock valued at $3,567,000 after buying an additional 100 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TT has been the topic of a number of recent research reports. JPMorgan Chase & Co. increased their price objective on Trane Technologies from $247.00 to $300.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Mizuho raised their price target on Trane Technologies from $280.00 to $325.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Robert W. Baird raised their price target on Trane Technologies from $315.00 to $344.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Barclays raised their price target on Trane Technologies from $354.00 to $380.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 4th. Finally, UBS Group raised their price target on Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, June 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $309.79.

Trane Technologies Stock Down 1.2 %

Shares of NYSE:TT traded down $3.93 during midday trading on Friday, reaching $329.64. The company had a trading volume of 874,259 shares, compared to its average volume of 1,031,156. The company has a quick ratio of 0.74, a current ratio of 1.13 and a debt-to-equity ratio of 0.58. The business’s 50 day moving average price is $317.18 and its 200 day moving average price is $282.27. The stock has a market cap of $74.61 billion, a PE ratio of 35.22, a P/E/G ratio of 2.64 and a beta of 1.01. Trane Technologies plc has a 1-year low of $181.46 and a 1-year high of $338.09.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.30. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. The company had revenue of $4.22 billion during the quarter, compared to analysts’ expectations of $3.99 billion. During the same quarter in the previous year, the company posted $1.41 earnings per share. The business’s revenue was up 15.0% on a year-over-year basis. Research analysts forecast that Trane Technologies plc will post 10.46 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date is Friday, September 6th. Trane Technologies’s dividend payout ratio is presently 35.90%.

Insider Transactions at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $318.67, for a total transaction of $1,274,680.00. Following the completion of the sale, the chief financial officer now owns 61,293 shares in the company, valued at $19,532,240.31. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CFO Christopher J. Kuehn sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $318.67, for a total value of $1,274,680.00. Following the completion of the sale, the chief financial officer now directly owns 61,293 shares in the company, valued at $19,532,240.31. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Evan M. Turtz sold 8,988 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $321.30, for a total value of $2,887,844.40. Following the completion of the sale, the senior vice president now owns 20,758 shares of the company’s stock, valued at $6,669,545.40. The disclosure for this sale can be found here. 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.