Sunbeam Capital Management LLC Invests $394,000 in Trane Technologies plc (NYSE:TT)

Sunbeam Capital Management LLC acquired a new stake in Trane Technologies plc (NYSE:TT) during the 4th quarter, Holdings Channel reports. The fund acquired 1,066 shares of the company’s stock, valued at approximately $394,000.

A number of other large investors have also recently added to or reduced their stakes in TT. Vanguard Group Inc. lifted its holdings in shares of Trane Technologies by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 19,235,570 shares of the company’s stock valued at $7,104,658,000 after purchasing an additional 152,353 shares in the last quarter. Geode Capital Management LLC lifted its stake in Trane Technologies by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 4,775,263 shares of the company’s stock valued at $1,760,549,000 after acquiring an additional 136,349 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Trane Technologies by 4.1% in the 4th quarter. Ameriprise Financial Inc. now owns 3,343,390 shares of the company’s stock valued at $1,234,908,000 after acquiring an additional 130,867 shares in the last quarter. Norges Bank bought a new stake in Trane Technologies in the 4th quarter valued at approximately $1,117,816,000. Finally, Northern Trust Corp grew its stake 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 worth $948,316,000 after acquiring an additional 429,953 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TT. Royal Bank of Canada boosted their price objective on shares of Trane Technologies from $363.00 to $408.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 1st. Citigroup boosted their price target on shares of Trane Technologies from $415.00 to $445.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Melius Research reissued a “hold” rating and set a $398.00 price target on shares of Trane Technologies in a research report on Tuesday, January 28th. Barclays decreased their price objective on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a report on Monday, March 10th. Finally, Hsbc Global Res upgraded Trane Technologies from a “hold” rating to a “strong-buy” rating in a report on Friday, April 25th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Trane Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $427.47.

Trane Technologies Trading Down 0.1%

Trane Technologies stock opened at $423.71 on Friday. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $433.60. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. The stock has a market capitalization of $94.50 billion, a P/E ratio of 37.66, a PEG ratio of 2.50 and a beta of 1.14. The stock has a 50-day simple moving average of $366.28 and a 200 day simple moving average of $375.01.

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

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a yield of 0.89%. Trane Technologies’s dividend payout ratio (DPR) is 31.28%.

Insiders Place Their Bets

In other news, insider Donald E. Simmons sold 3,571 shares of the business’s 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 owns 3,593 shares in the company, valued at $1,365,340. The trade was a 49.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.38% of the company’s stock.

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.