Ballentine Partners LLC Grows Position in Trane Technologies plc (NYSE:TT)

Ballentine Partners LLC grew its stake in shares of Trane Technologies plc (NYSE:TT) by 5.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,997 shares of the company’s stock after purchasing an additional 111 shares during the quarter. Ballentine Partners LLC’s holdings in Trane Technologies were worth $599,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TT. BKM Wealth Management LLC bought a new position in shares of Trane Technologies during the fourth quarter valued at approximately $25,000. Motco bought a new position in Trane Technologies in the fourth quarter worth $27,000. Sachetta LLC bought a new position in Trane Technologies in the fourth quarter worth $27,000. Ancora Advisors LLC bought a new position in Trane Technologies in the third quarter worth $40,000. Finally, Gables Capital Management Inc. raised its holdings in Trane Technologies by 68.2% in the fourth quarter. Gables Capital Management Inc. now owns 185 shares of the company’s stock worth $45,000 after purchasing an additional 75 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Insiders Place Their Bets

In other Trane Technologies news, CFO Christopher J. Kuehn sold 4,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 61,293 shares of the company’s stock, valued at $19,532,240.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Evan M. Turtz sold 8,988 shares of Trane Technologies stock in a transaction dated 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 transaction, the senior vice president now directly owns 20,758 shares of the company’s stock, valued at approximately $6,669,545.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Christopher J. Kuehn sold 4,000 shares of Trane Technologies stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $318.67, for a total value of $1,274,680.00. Following the transaction, the chief financial officer now directly owns 61,293 shares in the company, valued at $19,532,240.31. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

Trane Technologies Stock Performance

Shares of Trane Technologies stock traded up $4.47 during trading on Monday, hitting $338.59. 74,739 shares of the company’s stock traded hands, compared to its average volume of 1,042,040. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.13 and a quick ratio of 0.74. Trane Technologies plc has a 1 year low of $184.02 and a 1 year high of $345.46. The stock has a market capitalization of $76.64 billion, a P/E ratio of 36.17, a PEG ratio of 2.67 and a beta of 1.01. The business has a 50-day simple moving average of $321.15 and a 200-day simple moving average of $287.01.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Tuesday, April 30th. The company reported $1.94 EPS for the quarter, beating the consensus estimate of $1.64 by $0.30. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. The company had revenue of $4.22 billion for the quarter, compared to analysts’ expectations of $3.99 billion. During the same period last year, the firm posted $1.41 earnings per share. Trane Technologies’s revenue was up 15.0% compared to the same quarter last year. As a group, analysts forecast that Trane Technologies plc will post 10.46 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be given a $0.84 dividend. The ex-dividend date is Friday, September 6th. This represents a $3.36 annualized dividend and a yield of 0.99%. Trane Technologies’s payout ratio is 35.90%.

Wall Street Analysts Forecast Growth

TT has been the subject of a number of research reports. Wells Fargo & Company increased their price objective on Trane Technologies from $281.00 to $295.00 and gave the stock an “underweight” rating in a report on Thursday, May 2nd. UBS Group increased their price objective on Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a report on Monday, June 3rd. The Goldman Sachs Group increased their price objective on Trane Technologies from $287.00 to $326.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Barclays increased their price objective on Trane Technologies from $354.00 to $380.00 and gave the stock an “overweight” rating in a report on Tuesday, June 4th. Finally, Stephens raised their price target on Trane Technologies from $310.00 to $320.00 and gave the company an “equal weight” rating in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $309.79.

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.