tru Independence LLC Acquires Shares of 820 Trane Technologies plc (NYSE:TT)

tru Independence LLC bought a new position in Trane Technologies plc (NYSE:TT) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 820 shares of the company’s stock, valued at approximately $246,000.

A number of other institutional investors have also recently made changes to their positions in TT. Keel Point LLC boosted its holdings in Trane Technologies by 3.0% in the fourth quarter. Keel Point LLC now owns 1,326 shares of the company’s stock worth $323,000 after purchasing an additional 39 shares during the last quarter. Rosenberg Matthew Hamilton increased its position in Trane Technologies by 27.2% during the fourth quarter. Rosenberg Matthew Hamilton now owns 192 shares of the company’s stock valued at $47,000 after acquiring an additional 41 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in Trane Technologies by 2.3% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,847 shares of the company’s stock valued at $450,000 after acquiring an additional 42 shares during the period. Level Four Advisory Services LLC boosted its position in Trane Technologies by 1.5% in the fourth quarter. Level Four Advisory Services LLC now owns 2,757 shares of the company’s stock worth $672,000 after purchasing an additional 42 shares during the last quarter. Finally, Cedrus LLC grew its stake in shares of Trane Technologies by 2.6% during the 4th quarter. Cedrus LLC now owns 1,669 shares of the company’s stock valued at $407,000 after purchasing an additional 43 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on TT. UBS Group increased their price target on shares of Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, June 3rd. Wells Fargo & Company raised their target price on Trane Technologies from $281.00 to $295.00 and gave the stock an “underweight” rating in a report on Thursday, May 2nd. Barclays boosted their price target on Trane Technologies from $354.00 to $380.00 and gave the company an “overweight” rating in a report on Tuesday, June 4th. The Goldman Sachs Group raised their price objective on Trane Technologies from $287.00 to $326.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Finally, Mizuho boosted their price objective on Trane Technologies from $280.00 to $325.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. One investment 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. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $309.79.

Insider Activity at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 4,000 shares of Trane Technologies 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 transaction, the chief financial officer now owns 61,293 shares in the company, valued at approximately $19,532,240.31. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, SVP Evan M. Turtz sold 8,988 shares of the business’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $321.30, for a total transaction of $2,887,844.40. Following the completion of the transaction, the senior vice president now owns 20,758 shares in the company, valued at approximately $6,669,545.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Christopher J. Kuehn sold 4,000 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $318.67, for a total transaction of $1,274,680.00. Following the sale, the chief financial officer now directly owns 61,293 shares of the company’s stock, valued at $19,532,240.31. The disclosure for this sale can be found here. 0.38% of the stock is owned by insiders.

Trane Technologies Price Performance

TT stock traded down $0.27 during mid-day trading on Tuesday, hitting $321.09. The company had a trading volume of 482,619 shares, compared to its average volume of 1,086,372. The company has a 50-day moving average price of $325.86 and a 200 day moving average price of $291.01. Trane Technologies plc has a 12-month low of $184.02 and a 12-month high of $345.46. The company has a market capitalization of $72.68 billion, a price-to-earnings ratio of 34.32, a P/E/G ratio of 2.55 and a beta of 1.01. The company has a quick ratio of 0.74, a current ratio of 1.13 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.30. The business had revenue of $4.22 billion during the quarter, compared to analysts’ expectations of $3.99 billion. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.41 EPS. On average, research analysts anticipate that Trane Technologies plc will post 10.48 earnings per share for the current year.

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 1.05%. The ex-dividend date is Friday, September 6th. Trane Technologies’s dividend payout ratio is 35.90%.

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.