Portside Wealth Group LLC Purchases Shares of 847 Trane Technologies plc (NYSE:TT)

Portside Wealth Group LLC purchased a new stake in Trane Technologies plc (NYSE:TT) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 847 shares of the company’s stock, valued at approximately $285,000.

A number of other institutional investors have also recently made changes to their positions in TT. Norges Bank bought a new stake in shares of Trane Technologies during the 4th quarter valued at about $1,117,816,000. GAMMA Investing LLC boosted its position in shares of Trane Technologies by 35,458.2% during the 1st quarter. GAMMA Investing LLC now owns 2,015,792 shares of the company’s stock valued at $679,161,000 after purchasing an additional 2,010,123 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Trane Technologies during the 4th quarter valued at about $611,322,000. Northern Trust Corp boosted its position in shares of Trane Technologies by 20.1% during the 4th quarter. Northern Trust Corp now owns 2,567,527 shares of the company’s stock valued at $948,316,000 after purchasing an additional 429,953 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Trane Technologies during the 4th quarter valued at about $147,251,000. Institutional investors own 82.97% of the company’s stock.

Insider Activity at Trane Technologies

In related news, insider Donald E. Simmons sold 3,571 shares of the stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the completion of the sale, the insider now directly owns 3,593 shares of the company’s stock, valued at approximately $1,365,340. This trade represents a 49.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.38% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TT. HSBC upgraded Trane Technologies from a “hold” rating to a “buy” rating and upped their target price for the company from $405.00 to $415.00 in a research report on Friday, April 25th. Robert W. Baird upped their target price on Trane Technologies from $360.00 to $396.00 and gave the company a “neutral” rating in a research report on Thursday, May 1st. Citigroup upped their price target on Trane Technologies from $415.00 to $445.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Barclays dropped their price target on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. Finally, Royal Bank of Canada upped their price target on Trane Technologies from $363.00 to $408.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $427.47.

Trane Technologies Stock Performance

Shares of Trane Technologies stock opened at $422.01 on Wednesday. The company has a market cap of $94.12 billion, a PE ratio of 37.51, a price-to-earnings-growth ratio of 2.50 and a beta of 1.16. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $436.61. The business has a 50 day moving average price of $386.33 and a 200-day moving average price of $376.60. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.20 by $0.25. The firm had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.46 billion. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.94 earnings per share. Equities analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date is Friday, September 5th. Trane Technologies’s payout ratio is 31.28%.

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.