Beacon Capital Management LLC Purchases 39 Shares of Trane Technologies plc (NYSE:TT)

Beacon Capital Management LLC boosted its holdings in shares of Trane Technologies plc (NYSE:TT) by 3.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,347 shares of the company’s stock after acquiring an additional 39 shares during the quarter. Beacon Capital Management LLC’s holdings in Trane Technologies were worth $443,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in TT. Vanguard Group Inc. raised its stake in shares of Trane Technologies by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 18,887,514 shares of the company’s stock valued at $5,670,032,000 after acquiring an additional 174,251 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Trane Technologies by 0.5% in the first quarter. JPMorgan Chase & Co. now owns 17,393,733 shares of the company’s stock worth $5,221,599,000 after buying an additional 80,536 shares during the last quarter. Norges Bank bought a new stake in shares of Trane Technologies during the 4th quarter worth $655,804,000. Capital World Investors grew its stake in Trane Technologies by 0.6% in the 4th quarter. Capital World Investors now owns 2,176,595 shares of the company’s stock valued at $530,870,000 after buying an additional 11,930 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in Trane Technologies by 17.3% in the 4th quarter. Franklin Resources Inc. now owns 1,655,459 shares of the company’s stock worth $403,766,000 after acquiring an additional 243,996 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Trading Up 0.6 %

TT stock traded up $2.20 during trading on Friday, hitting $352.91. The company had a trading volume of 871,002 shares, compared to its average volume of 1,121,324. The firm has a 50-day moving average price of $335.48 and a 200-day moving average price of $314.52. Trane Technologies plc has a 12 month low of $184.02 and a 12 month high of $355.02. The company has a quick ratio of 0.74, a current ratio of 1.17 and a debt-to-equity ratio of 0.62. The stock has a market cap of $79.88 billion, a price-to-earnings ratio of 37.70, a PEG ratio of 2.50 and a beta of 1.01.

Trane Technologies (NYSE:TT) last released its earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, topping analysts’ consensus estimates of $3.08 by $0.22. The company had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.13 billion. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.68 earnings per share. As a group, analysts predict that Trane Technologies plc will post 10.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

The firm also recently declared 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 0.95%. The ex-dividend date of this dividend is Friday, September 6th. Trane Technologies’s dividend payout ratio is 35.90%.

Insider Buying and Selling

In other news, EVP Raymond D. Pittard sold 1,805 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total value of $593,213.25. Following the transaction, the executive vice president now directly owns 83,517 shares in the company, valued at approximately $27,447,862.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Raymond D. Pittard sold 1,805 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total value of $593,213.25. Following the completion of the sale, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at approximately $27,447,862.05. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO David S. Regnery sold 29,450 shares of Trane Technologies stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the transaction, the chief executive officer now directly owns 132,946 shares in the company, valued at approximately $42,708,902.50. The disclosure for this sale can be found here. Insiders sold a total of 44,243 shares of company stock valued at $14,216,550 over the last ninety days. Insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Mizuho raised their price target on Trane Technologies from $280.00 to $325.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. TD Cowen raised their target price on Trane Technologies from $325.00 to $360.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Barclays upped their price target on Trane Technologies from $385.00 to $394.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Citigroup raised their price objective on shares of Trane Technologies from $355.00 to $366.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Finally, Wells Fargo & Company upped their target price on shares of Trane Technologies from $310.00 to $315.00 and gave the company an “underweight” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $323.29.

Trane Technologies 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.