Mufg Securities Americas Inc. Invests $1.23 Million in Trane Technologies plc (NYSE:TT)

Mufg Securities Americas Inc. bought a new position in Trane Technologies plc (NYSE:TT) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,322 shares of the company’s stock, valued at approximately $1,227,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TT. Minot DeBlois Advisors LLC purchased a new position in shares of Trane Technologies during the fourth quarter valued at approximately $26,000. Sound Income Strategies LLC increased its holdings in Trane Technologies by 1,314.3% during the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after buying an additional 92 shares during the last quarter. Flagship Wealth Advisors LLC purchased a new stake in Trane Technologies during the fourth quarter valued at approximately $37,000. Golden State Wealth Management LLC purchased a new stake in Trane Technologies during the fourth quarter valued at approximately $39,000. Finally, BankPlus Trust Department purchased a new stake in Trane Technologies during the fourth quarter valued at approximately $45,000. Institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on TT shares. Wells Fargo & Company upped their target price on shares of Trane Technologies from $330.00 to $370.00 and gave the company an “underweight” rating in a report on Thursday, May 1st. Melius Research reissued a “hold” rating and issued a $398.00 price objective on shares of Trane Technologies in a research note on Tuesday, January 28th. JPMorgan Chase & Co. increased their price objective on shares of Trane Technologies from $323.00 to $334.00 and gave the stock a “neutral” rating in a research note on Thursday, May 1st. Citigroup increased their price objective on shares of Trane Technologies from $415.00 to $445.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Finally, HSBC raised shares of Trane Technologies from a “hold” rating to a “buy” rating and increased their price objective for the stock from $405.00 to $415.00 in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $421.07.

Insider Buying and Selling

In related news, insider Donald E. Simmons sold 3,571 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 3,593 shares of the company’s stock, valued at $1,365,340. This trade represents a 49.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.38% of the stock is currently owned by insiders.

Trane Technologies Trading Down 0.6%

Shares of TT opened at $419.16 on Thursday. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $424.46. The company has a market cap of $93.48 billion, a P/E ratio of 37.26, a P/E/G ratio of 2.50 and a beta of 1.14. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The company’s fifty day simple moving average is $354.49 and its 200-day simple moving average is $372.98.

Trane Technologies (NYSE:TT) last announced its earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.25. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. The business had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.46 billion. During the same quarter in the prior year, the firm posted $1.94 earnings per share. The business’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Friday, June 6th. Trane Technologies’s dividend payout ratio is presently 31.28%.

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.